#198 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 discussed 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

Links mentioned in this episode:

Sponsors:

Jaxx: Wallets that Unify the Blockchain Experience Across Devices – http://epicenter.tv/jaxx
Shapeshift: Buy and sell alt coins instantly and securely without a centralized exchange – http://epicenter.tv/shapeshift

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Epicenter is hosted by Brian Fabian Crain, S?ƒbastien Couture & Meher Roy.