X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.
A logo for the fictional “Blockchain Exchange Commission” the U.S. Securites and Exchange Commission alleges Blockvest used to promote its ICO (left) and the SEC’s official seal, which Blockvest is also alleged to have used without authorization. (Photo illustration: Jason Doiy/ALM)

Lawyers looking at a first-of-its-kind decision this week turning back the SEC’s request for a preliminary injunction to block the launch of an initial coin offering cautioned that while the loss is undoubtedly a setback for the agency, it isn’t likely to dramatically affect its approach to the ICO market.

U.S District Judge Gonzalo Curiel of the Southern District of California turned back the SEC’s injunction bid Tuesday in a case against the backers of the Blockvest ICO. The judge, who previously granted the SEC’s ex parte request for a temporary restraining order and froze the assets involved in the ICO, found there was a gap between the two sides’ versions of the facts and that the SEC hadn’t carried its burden to show Blockvest’s BLV tokens were securities.

This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.

To view this content, please continue to their sites.

Not a Lexis Advance® Subscriber?
Subscribe Now

Not a Bloomberg Law Subscriber?
Subscribe Now

Why am I seeing this?

LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.

For questions call 1-877-256-2472 or contact us at [email protected]

Ross Todd

Ross Todd is the Editor/columnist for the Am Law Litigation Daily. He writes about litigation of all sorts. Previously, Ross was the Bureau Chief of The Recorder, ALM's California affiliate. Contact Ross at [email protected] On Twitter: @Ross_Todd.

More from this author

Law Firms Mentioned

 
Reprints & Licensing
Mentioned in a Law.com story?

License our industry-leading legal content to extend your thought leadership and build your brand.

America's Claims Executive Virtual Leadership Forum & Expo 2021Event

ACE Virtual Leadership Forum & Expo is the annual conference for Senior Claims Executives in Insurance organizations.

Get More Information
 
 

ALM Legal Publication Newsletters

Sign Up Today and Never Miss Another Story.

As part of your digital membership, you can sign up for an unlimited number of a wide range of complimentary newsletters. Visit your My Account page to make your selections. Get the timely legal news and critical analysis you cannot afford to miss. Tailored just for you. In your inbox. Every day.

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.