The rapid expansion of digital assets has seen abundant debate about whether they should be classified as currencies or securities – which would subject them to regulations. Crypto Exchanges and other digital token providers have been adamant that most digital assets operating on blockchain do not fit the definition of securities, while some regulatory agencies have determined that some specific assets are securities that are subject to registration and disclosure.

In this session our panel will discuss the factors to be examined and questions to be answered when determining if digital and crypto transactions qualify as “investment contracts” that are subject to regulation, such as:

• Are Crypto Exchanges “common enterprises”?
• Is there an investment of “money”?
• Do investors have a reasonable expectation of profit?
• Are any such profits derived from the “efforts of others”?
• Do developers and Exchanges have the burden or proving they are NOT securities?