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Todd R. Kornfeld Quoted in ACA Insight Article, 'Court Decision Removes Threat to SEC Pursuit of Cryptocurrencies'

2/25/2019
Todd R. Kornfeld Quoted in ACA Insight Article, 'Court Decision Removes Threat to SEC Pursuit of Cryptocurrencies'

Todd R. Kornfeld, of counsel in the Financial Services Practice Group of Pepper Hamilton, was quoted in the February 25, 2019 ACA Insight article, "Court Decision Removes Threat to SEC Pursuit of Cryptocurrencies."

The new ruling went in favor of the agency because "the SEC was able to make persuasive arguments that the Blockvest tokens were in fact securities based on the Howey test," said Pepper Hamilton of counsel Todd Kornfeld.

...

"The SEC was able to persuade the court that by offering its tokens on a public website, even though there were no public buyers of its tokens and an actual sale may have been impossible or not intended, Blockvest had made a public offering in violation of the securities laws," Kornfeld said.

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