Meet Sasha Hodder, CMH Legal Advisor
We have recently had the pleasure of adding Sasha Hodder to the Crypto Media Hub team as a legal advisor. Sasha began her career in the virtual currency arena in 2014 and helps her clients navigate the burgeoning regulations surrounding cryptocurrencies. She has worked on Private Placement Token Offerings, Initial Coin Offerings, Business Formation, Operating Agreements, and Corporate Bylaws, Drafting Asset Purchase Agreements, Advisor Agreements, Professional Services Agreements, Shareholder Purchase Agreements, AML/KYC Policies, Opinion Letters, and SAFE & SAFT Agreements, and various other contracts. Read more about Sasha’s credentials and work experience on our staff page, here.
Below are excerpts from some of her articles. Topics include a number of issues of interest to cryptocurrency businesses and organizations, as well as information for a wider audience curious about Bitcoin.
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Over the past few weeks, as the Bitcoin price has soared, lots of people have been reaching out to ask me, “What is Bitcoin?” It prompted me to start this blog- and while I am a licensed attorney in Florida – I want to preface that this is not legal or investment advice.
In a nutshell, Bitcoin is digital money- a decentralized, secure, cost effective and awesome way to transfer money around the world. It’s also proved to be a pretty wonderful store of value, reaching a new high of $11,754 USD this morning, December 3, 2017. The main thing that originally attracted me to the space was the amazing community of innovative people who are generally opposed to having a middle-man involved in every transaction. (A lot of the early adopters are passionate libertarians and anarchists.) Read more.
(Also check out Crypto Media Hub’s blog, “Bitcoin 101: What are Bitcoins and How Do You Get Them?”)
If you are launching an ICO, either from the United States or from any other jurisdictions, you should be familiar with the Security and Exchange Commission’s (SEC) Regulation S. This is a highly simplified explanation that intentionally excludes anything not pertaining to crypto (such as debt instruments and warrants).
In short, Regulation S lets you sell Tokens to foreign markets without registering with the SEC; but you have to lock them up pursuant to Rule 144 for a one-year timeframe so the Tokens don’t flow back into America. The stated purpose of this Regulation—and every other regulation from the SEC—is to protect American Investors. Read more.
Another fundraising alternative for the ICO issuer is Regulation Crowdfunding. It permits equity crowdfunding under Section 4(a)(6) of the Securities Act of 1933 (as amended, the Securities Act), which was added by Title III of the Jumpstart Our Business Startups Act of 2012 (the JOBS Act). The rules actually came into effect on January 26, 2016.
The short version – You can raise up to $1.070 Million USD from non-accredited investors. You can do so via FINRA registered Crowdfunding portals. There are a several options a company could use: See https://www.finra.org/about/funding-portals-we-regulate. I have personally worked with two of them: Start Engine and Venture Capital 500. Full disclosure: I was a founding partner of Venture Capital 500; I no longer have any equity in it, but I can personally vouch for their team.
How much can you raise? Up to $1,070,000 in any 12-month period. There’s no limitation on the type of securities that can be offered – hence Cryptographic Tokens can be sold. Read more.
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Thank you for reading! Stay tuned for more Crypto Media Hub staff introductions!