Legal Audit Services
IBC Legal Group provides an extensive array of legal consulting and audit services devised to keep your cryptocurrency projects secure enough for operations and sales in the United States. Because the U.S. is one of the biggest markets in the world, full of plenty of eager investors and token buyers, it is a market that any serious ICO/STO cannot ignore. But with increased opportunity comes increased scrutiny from the Securities and Exchange Commission, which is the cost of business of bringing your offering to the U.S. market.
If the SEC knocks on your door, are you adequately prepared? Your ICO/STO requires top-level legal protection and support to ensure that you can collect funds, distribute tokens, and perform outreach in a manner consistent with U.S. statutory and regulatory laws. Sometimes a mistake can stem from the complexities associated with the structure you used to create your ICO/STO; and other times simply using the wrong word in your white paper can land you in hot water with regulators.
At IBC Legal Group, we offer Legal Audit Services to help you stay safe and thrive in the markets you want to dominate.
Why Fraud Prevention Matters: The SEC’s Escalating War on ICO Fraud
The U.S. Securities and Exchange Commission (SEC) has recently stepped up its scrutiny of ICO/STOs to ensure that companies are properly describing their products and tokens to the public and investors. SEC regulators are also taking an increasingly aggressive approach to potentially false claims or inappropriate actions by advisors.
The SEC is currently reviewing and updating its guidelines regarding the treatment of cryptocurrencies with the goal to bring them more closely in line with existing securities regulations. In response to these moves by the SEC, some cryptocurrency companies are taking preemptive action by attempting to create “utility tokens.” The benefit of using utility tokens is their presumed ability to fall outside the formal classification of a security under U.S. law, but in this case is it is the seller who should beware. Issuing utility tokens is a tricky endeavor that will almost certainly draw attention to your ICO/STO. Even if you are doing everything by the book, you will still need a serious legal audit service to ensure you can withstand the scrutiny of U.S. regulators and potentially law enforcement agencies. Make no mistake- despite your best intentions, the risk of fraud charges stemming from an improperly constructed business is real.
The number of reviews, audits, and subpoenas issued by the SEC to cryptocurrency projects have skyrocketed in recent months. Regulators have also charged an increasing number of ICO/STO projects with fraud based on inappropriate promises and operating procedures. One of the most high-profile cases involving Centra Tech Inc. resulted in its co-founders charged with fraud based on the use of celebrities to promote their offering and increase token sales. Based on these trends, it appears that the more buzz and attention you able to generate for your ICO/STO, the more likely it is the SEC will perform an audit of your operations. We all want to run and provide the biggest ICO/STO possible, so protect yourself by work with IBC Legal Group’s legal audit services to ensure that your business is ready for whatever the SEC may throw your way.
What We Do
The IBC Legal Group is a global blockchain consulting initiative led by experts in all points of the blockchain, cryptocurrency, and ICO realm. We offer complete ICO services and development tools, token and blockchain creation support, as well as a variety of over-the-counter services and support tools.
In the legal space, we provide auditing and review services designed to ensure that you. your company, and your investors are protected so you can offer your tokens and conduct ICO activities in leading global markets. Our team of legal experts continuously monitors countries around the world to evaluate how different governments react to ICOs and cryptocurrencies. Our network of international experts is constantly refining our processes and techniques to ensure we stay on the cutting edge of global developments and emerging trends in the blockchain community. We do all of this for one reason and one reason only, which is to protect our clients. When hiring a law firm to handle your cryptocurrency needs, you should accept nothing less.
Launching an ICO/STO is a FinTech activity with limited regulation in most jurisdictions. IBC Legal Group provides legal audit services focusing on verifying compliance of your project’s internal processes with the prevailing best practices in the ICO/STO blockchain field. We also concentrate on compliance with existing federal and state regulations, or any rules relating to your particular jurisdiction.
IBC Legal Group provides you with a legal audit of the smart contracts related to your ICO/STO project by verifying that the smart contract implements and executes the token sale procedure precisely as outlined in your ICO/STO website and white paper. We offer this audit service in different configurations to encompass both the security and the mechanics of token sale to provide a comprehensive audit report. If there are any vulnerabilities or issues uncovered, the attorneys at IBC Legal Group will present recommendations to eliminate them.
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With a variety of successful ICO launches under our belt, IBC Legal Group has shepherded many projects from creation through implementation, including multiple funding vehicles and rounds. Our cross-domain support has yielded a variety of best practices to make each launch successful and valid in whichever markets you target.
Moreover, we believe in keeping it simple for your team. We will walk you through every decision in a way that’s clear, logical and straightforward with no unnecessary legalese or cumbersome contracts the size of a mountain. Contact IBC Legal Group today and learn what our clients already know; we measure our success based on your success. Let us help you start your journey towards a successful ICO/STO together.