The More Things Change; The More They Stay The Same

Can I suggest something to you? People who come in suggesting that ‘everything is different’ [while] marketing investment contracts tend to end up looking rather badly.

The above statement by Damon Silvers, director of policy at the American Federation of Labor and Congress of Industrial Organizations, to Adam Ludwin, the CEO of blockchain startup Chain, aptly summarizes the discussion of blockchain, cryptocurrencies, and Initial Coin Offerings (“ICO’s”) at the meeting of the SEC’s Investor Advisory Committee (IAC) held on October 12, 2017.

The meeting comes less than a month after the SEC announced the creation of a new cyber unit to investigate and enforce distributed ledger and ICO violations. Participants at the hearing provided a robust discussion of blockchain and other “distributed ledger” technologies, their potential applications, and what level of government regulation may be warranted in this space.

The complete agenda and more information about the meeting can be found on the Committee’s web page.

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