We’re often asked whether that policy, articulated mid-last-year by Director of the Division of Corporate Finance William Hinman, truly represents the policy of the Commission or whether it’s just the opinion of SEC staff. So, a few months ago we worked with Rep. Ted Budd to send a letter co-signed by several colleagues to Chairman Clayton asked whether he agreed with Hinman’s approach. Now the Chairman has responded: Your letter also asks whether I agree with certain statements concerning digital tokens in Director Hinman's June 2018 speech. I agree that the analysis of whether a digital asset is offered or sold as ... (full story)