Joshua Ashley Klayman, head of Morrison & Foerster’s Blockchain & Smart Contracts Group and chair of the Wall Street Blockchain Alliance (WSBA) Working Group, explains the guidance the WSBA is currently constructing as to how the broader community should manage ICOs in the Crowdfund Insider article “Legal Guidance on ICOs? Wall Street Blockchain Alliance will Publish Recommendations Soon.”
“We are trying to develop something that will be practical and useful, rather than just theoretical, and having the views of some of the most experienced firms in the space will be valuable to all of us,” she said.
She continued, “Rather than providing abstract or theoretical guidance, our objective is to leverage our respective experiences and knowledge to develop a common, private-sector approach and view with respect to certain questions for which we do not have clear answers or bright-line rules. We plan to release our initial thought leadership by Thanksgiving because these are questions that we as lawyers need to be able to answer as soon as possible for our clients.”
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