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SEC.gov report concludes that DAO Tokens are in fact securities

This news could boost the market for legitimate, properly registered, regulated and trustworthy ICOs.

The United States Securities and Exchange Commission’s (“Commission”) Division of Enforcement (“Division”) has investigated whether The DAO, an unincorporated organization; Slock.it UG (“Slock.it”), a German corporation; Slock.it’s co-founders; and intermediaries may have violated the federal securities laws. The Commission has determined not to pursue an enforcement action in this matter based on the conduct and activities known to the Commission at this time.

Read the press release at sec.gov or see the full report.

Update:
Here's Seven Takeaways from the report by Kyle E. Mitchell, who is not my attorney.

Update 2:
Open letter to the SEC from Tim Draper, a well known venture capital investor.

Update 3:
Slightly unrelated but here's a link to some speculation about the Director of investment management stepping down, and what this could mean for cryptocurrency ETFs.