Marco Santori, the president and chief legal officer of Blockchain, discusses this week’s big regulatory news — the SEC’s guidance on initial coin offerings and its first no-action letter. We talk about what guidance actually means and how much weight it has in court, how much clarity this guidance actually brought, and how the framework could affect also future attempts at future fundraising/token distribution events and airdrops. We also cover the no-action letter and the ways in which the token of TurnKey Jet, which received the no-action letter, is quite different from most other crypto-tokens and how helpful that example is for crypto projects.

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Episode links:

SEC guidance:

No-action letter:

Marco Santori:

Marco’s tweet storm on the guidance and no-action letter:
Coin Center’s analysis:
Jake Chervinksy tweetstorm:
Skeptic Preston Byrne tweetstorm:
Meltem Demirors tweetstorm:
Katherine Wu tweetstorm:
Gabriel Shapiro tweetstorm:

SAFT white paper:

Article on SAFT white paper:

More on the no-action letter:

Letter from TurnKey Jet prompting the no-action letter:

Unchained episode with SEC Commissioner Hester Peirce: