SEC v. Binance Court Filing, retrieved on June 5, 2023 is part of . You can jump to any part in this filing . This is part 15 of 69. HackerNoon’s Legal PDF Series here BACKGROUND II. BACKGROUND ON CRYPTO ASSETS AND CRYPTO TRADING PLATFORMS E. The DAO Report 78. On July 25, 2017, the SEC issued the (the “DAO Report”), advising “those who would use … distributed ledger or blockchain-enabled means for capital raising[] to take appropriate steps to ensure compliance with the U.S. federal securities laws,” and finding that the offerings of certain crypto assets identified therein were offerings of securities. 79. The DAO Report also advised that “any entity or person engaging in the activities of an exchange must register as a national securities exchange or operate pursuant to an exemption from such registration” and “stress[ed] the obligation to comply with the registration provisions of the federal securities laws with respect to products and platforms involving emerging technologies and new investor interfaces.” The DAO Report also found that the trading platforms at issue therein “provided users with an electronic system that matched orders from multiple parties to buy and sell [certain crypto asset securities] for execution based on nondiscretionary methods” and therefore “appear to have satisfied the criteria” for being an exchange under the Exchange Act. Report of Investigation Pursuant to Section 21(a) of the Securities Exchange Act of 1934: The DAO Continue Reading . Here About HackerNoon Legal PDF Series: We bring you the most important technical and insightful public domain court case filings. This court case 1:23-cv-01599 retrieved on September 6, 2023, from is part of the public domain. The court-created documents are works of the federal government, and under copyright law, are automatically placed in the public domain and may be shared without legal restriction. docdroid.net

The DAO Report: SEC's Landmark Ruling on Crypto Assets and Trading Platforms

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