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Securities Cops Wary Of Bitcoin Morphing Into Madoff

February 7, 2018, Law360

Keir Gumbs is quoted in a Law360 article regarding the approach that U.S. securities regulators are taking toward the dangers posed by cryptocurrencies and related technologies. According to Gumbs, “The advice for potential entrepreneurs who want to conduct virtual currency offerings is first and foremost to be really thoughtful about what it is that we’re offering here. What’s the business? How does it work? What are the fundamentals underlying it?” He adds, “And then making sure all of that is in the disclosure documents because to the extent that we don’t have those things in the disclosure documents and things go astray, I don’t think the SEC is going to be distinguishing between people who meant well with offerings that go badly and people who are genuine fraudsters."

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