For the third time this month, the Tezos blockchain project is the subject of a class action complaint for claims arising from their $232 million July initial coin offering (“ICO”). Consistent with both prior lawsuits, the plaintiffs allege that the Tezos ICO constituted the unregistered, non-exempt offer and sale of
Delaware Authorizes Stocks on Blockchain
On July 21st, Delaware Governor John Carney Jr. signed SB 69 into law. SB 69 amends the Delaware General Corporation Law (“DGCL”) to explicitly authorize the use of distributed ledger technology in the administration of Delaware corporate records, including stock ledgers.
Distributed ledger (or “blockchain”) technology-based platforms enable peer-to-peer transactions and eliminate the need for a trusted intermediary to verify and process the transactions. The potential applications of such technology in the administration of corporate records, and stock ledgers in particular, are tremendous.