Ken Witt, Mark Staines Quoted in CointelegraphNews | October 1, 2019
Kutak Rock partner Ken Witt and associate Mark Staines, both in the firm’s Denver office, were recently quoted in a September 30 Cointelegraph article titled, “Launch of Binance US Can Have Far-Reaching Effects on Crypto Market."
The article reports on the current U.S. regulatory landscape for cryptocurrency and digital asset exchanges. It covers the recent announcement that Binance is launching its U.S. trading desk and whether that means other established ventures will follow.
Mr. Witt and Mr. Staines specifically discuss how exchange operators will distinguish between cryptocurrencies or tokens that are securities under existing laws as opposed to those that are not, which is the core difficulty for operators. They say, “Securities can’t be traded unless the exchange is registered with the SEC and FINRA as a securities exchange. Although there has been some progress, because of the inaction of Congress and the SEC, U.S. law on this point is still based on a 1946 Supreme Court Case – SEC v. W.J. Howey Co.”
An experienced corporate and securities attorney, Mr. Witt represents energy and technology companies and institutional clients in public offerings, mergers and acquisitions and financing transactions.
Mr. Staines is a corporate and commercial associate. He practices primarily in the areas of corporate finance, mergers and acquisitions, securities and technology.