Show notes
If it walks like a duck and quacks like a duck, then according to the SEC it’s a duck. Or, more likely, your so-called utility token is more likely a security. If you don’t know the difference between a security token and a utility token, you should listen to this episode. Even if you think you do, you should listen anyway. In this episode I interview Marc Boiron – ICO and blockchain attorney at Rutan and Tucker in Orange County. Marc has leveraged his strong corporate and securities law background and his near obsession with blockchain technology to build a practice advising blockchain companies on a breadth of issues, including ICOs, smart contracts, and cryptocurrency laws. Because, after all, nobody looks good in orange… Check out the full episode here: 1:10 - Marc’s background and focusing his law practice on blockchain technology. 2:22 - Why Delaware is often sought for business incorporation. 3:47 - How Delaware approached the way blockchain relates to the law. 6:07 - Some issues regulators are facing with ICOs so far. 9:23 - How this affects startups, why Delaware is so much the focus of discussions like this and why companies are going offshore to avoid ICO regulations. 13:23 - Looking at the example of Tezos and what it means for the velocity of change in this industry. 15:41 - Points of reference for the scale of cryptocurrency and what kinds of firms Marc sees getting involved with blockchain and cryptocurrencies. 18:00 - How the ICO/TGE markets are maturing and becoming increasingly global. 20:26 - The process that established US companies have to take in order to be seen as an offshore entity and some of the associated costs with ICOs. 26:24 - Where Marc sees the big issues coming from and what he expects to be working on in 12 months. 30:18 - The two-step process for ICOs with startups. 31:21 - How doing a token presale to the public can work. 32:20 - Comparing tokens to a normal regulation D offering and how that could split the capital raising world. 33:51 - The potential for one big, global market for cryptocurrencies compared to all the separate markets that are currently active. 35:41 - Marc’s view of the future of cryptocurrencies in places like the US. 37:23 - The explosion of change in Marc’s field. 39:43 - The questionnaire. 43:38 - Getting in touch with Marc and learning about what he’s up to. Resources and Links Mentioned: www.overstock.com ICOs Regulation D Regulation A Tezos JOBS Act Smart Contracts Howey Test Coinbase Tim Draper Marc’s blog - Blockchains 360 Email Marc at [email protected] or call at 714-338-1861
