SEC Division Director Offers Welcome Guidance on Digital Assets as Securities
Categories: Capital Markets
William Hinman, the Director of the Division of Corporation Finance at the Securities and Exchange Commission, gave a significant speech on June 14 on the subject of determining whether digital assets are securities. Among other things, he referred in his remarks to the Simple Agreement for Future Tokens, or SAFT. While declining to debate the SAFT “hypothetical structure,” Hinman stated that, in the context of the discussion in his speech, “it is clear I believe a token once offered in a security offering can, depending on the circumstances, later be offered in a non-securities transaction.”
