ThinkAdvisor quoted Haynes and Boone, LLP Partner Joe Mencher in an article about what lies ahead for the cryptocurrency space in 2019.
Here is an excerpt:
Joseph Mencher, a partner in the Intellectual Property Practice Group at Haynes and Boone, LLP in Austin, told ThinkAdvisor in an email that in 2019, he expects regulatory changes “that continue to signal increased governmental acceptance of the use of cryptocurrencies, similar to the state of Ohio beginning to accept state taxes in Bitcoin in 2018.”
That being said, Mencher sees further regulation coming from the states, similar to New York’s Bitlicense, as well as new regulations “that greatly limit how initial coin offerings are performed, along with the associated enforcement of current (and future) laws with respect to initial coin offering (ICO) activities that were conducted in 2017 and 2018.”
He noted the SEC’s Nov. 16 action, in which the agency required Airfox coin and Paragon coin to “pay back their investors.”
The SEC, Mencher said, is likely “in the process” of developing ICO regulations.
That said, Mencher anticipates that the cryptocurrency space will “continue to develop at a rapid pace, with possible ETF approval” by the SEC.
To read the full article, click here.