Steven Nerayoff, Industry Perspectives: The Blockchain event

Steven Nerayoff says that Ethereum’s lawyers told him that they had an “illegal securities offering.” He then said that he “was charged with a very simple thing. Raise money, and not go to prison.”

He also says that he described his plan to frame ether as a good to former SEC chairman Joseph Grundfest who thought it was “brilliant” and that he “spoke to some folks at the SEC who actually loved the idea and thought it made a lot of sense.” He describes this as the genesis of “the concept of a ‘utility coin’.”

Source: @digitalassetbuy