"Clayton has repeatedly targeted ICO attorneys in recent remarks, and signaled potential action against practitioners."
Enforcement SweepsEnforcement action could come in “sweeps” of cases against multiple ICOs and their attorneys announced all at once, Stark said. If past is prologue, the SEC’s enforcement actions in the ICO space are likely to start with “the low-hanging fruit” of attorneys whose advice aided ICO clients in securities fraud or unlawful investments, he said.
SAFT: A Questionable Remedy
There’s disagreement in the ICO advisory community over how to comply with securities laws. The “Simple Agreement for Future Tokens,” or SAFT, has emerged as one of the most prominent mechanisms to satisfy SEC regulations and facilitate investments.
It would be interesting to get more lawyers publicly sharing their perspective on the pros/cons of SAFTs.