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SEC Gives New Clues in Munchee ICO Action

The Recorder

11 Dec 2017

The SEC intervened to stop Munchee’s $15 million ICO, signaling its views on how securities laws apply to these types of offerings.

“The SEC has made clear that just because you state that the token is a utility token—and that you reference that you may have done an analysis [under the Howey test]—that that isn’t conclusive,” said Joshua Ashley Klayman in The Recorder article “SEC Gives New Clues in Munchee ICO Action.” “One really illuminating aspect of this order is it shows that the SEC is watching these ICOs in real time.”

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