Nick Morgan: The DAO, the SEC and the ICO Boom

Nick Morgan, a former attorney at the SEC, joined us to discuss their recent report on the DAO and what it means for the ICO boom. Topics covered in this episode: The history and mandate of the SEC Nick’s years as a trial attorney at the SEC How the Howey Test is used to determine if something is a security The application of the Howey Test to the DAO case The weaknesses in their argument that token holders relied on the effort of others Why the SEC did not prosecute the Slock.it founders Why the SEC will likely focus on token sales involving fraud How the SEC’s limited resources will make it hard for it to impact the ICO boom The implications of the SEC report for cryptocurrency exchanges Episode links: SEC Press Release on The DAO SEC Report on Investigation of The DAO Seven Takeaways from the DAO Report - Kyle Mitchell EB134 – Emin Gün Sirer And Vlad Zamfir: On A Rocky DAO Nicolas Morgan Website The DAO Report: Understanding the Risk of SEC Enforcement - CoinDesk This episode is hosted by Brian Fabian Crain and Sébastien Couture. Show notes and listening options: epicenter.tv/198

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