January 20th, 2018
Thank you Gurvey’s Law for having me on your show!
I had such a blast recording this interview, and sharing my knowledge on cryptocurrency!
Click here to listen to the show. Alongside other cryptocurrency experts, entrepreneur Cameron Chell and Harvard University economics professor Jeffrey Miron, we discuss the answers to the following questions on this popular topic:
What is the future of #Bitcoin and other cryptocurrencies? As the price of Bitcoin continues to cause awe with dramatic swings, is this the beginning or the end of the cryptocurrency “bubble”? What are the telltale signs that you should be looking at when considering your options? Will governments intervene with regulatory measures? How will regulation affect the prices of cryptocurrencies?
On January 18th, the Securities and Exchange Commission (SEC) released a Staff Letter addressed to the Investment Company Institute and the Asset Management Group of the Securities Industry and Financial Markets Association (SIFMA).
The letter outlined the SEC’s concerns about cryptocurrency exchange-traded funds (ETFs). Specifically, the letter stated that there are “significant outstanding questions concerning how funds holding substantial amounts of cryptocurrencies and related products would satisfy the requirements of the [Investment Company Act of 1940] and its rules.”
The letter identified 5 specific areas of concern:
- Potential manipulation and other risks
The letter posed several questions under each area of concern, some of which are: (i) What are the policies and procedures to determine the fair value of cryptocurrency related products? (ii) How would funds classify the liquidity of cryptocurrencies and cryptocurrency related products? (iii) How would the custody requirements be satisfied for cryptocurrency holdings? (iv) How would the fragmented, volatile and high-volume trading characteristics of cryptocurrencies allow ETFs to comply with market price requirements? and (v) How will ETFs ensure investor protection with cryptocurrencies that have a higher opportunity for fraud and manipulation than traditional securities?
The letter concluded by saying the SEC does “not believe that it is appropriate for fund sponsors to initiate registration of funds that intend to invest substantially in cryptocurrency and related products” until the questions in the letter are satisfactorily addressed. The SEC also stated that it has requested that sponsors withdraw registration statements that have already been filed for such products.
The full letter can be found here:
Staff Letter: Engaging on Fund Innovation and Cryptocurrency-related Holdings
Join me on Friday August 11th at Cross Campus Pasadena to learn how to network with investors – the right way.
For more info and RSVP, click here:
The California Secretary of State’s office announced this week that statements of information for California limited liability companies (LLCs) can now be filed online.
Secretary of State Alex Padilla said the goal with implementing this online service for LLCs is to streamline the process so that “entrepreneurs can focus less on red tape and more on growing their business.” Corporations already had the ability to file statements of information online, but previously the statements of information for LLCs had to be mailed into the Secretary of State’s office.
As a reminder, statements of information are due 90 days after initial formation and every 2 years thereafter. They also require interim statements of information if any information needs to be updated.
The new online form can be accessed here: https://llcbizfile.sos.ca.gov/.
See the full press release here: http://www.sos.ca.gov/administration/news-releases-and-advisories/2017-news-releases-and-advisories/secretary-padilla-announces-llc-statements-information-can-now-be-filed-online-and-new-bizfile-california/.
DON’T MISS OUT ON LAVA’s FIRST TIME ENTREPRENEUR WORKSHOP!
Sign up now to learn how to:
- Determine the value of your company
- Put together a capitalization table
- Understand how Venture Capitalists screen potential investments
- Understand the differences between trademarks, copyrights and patents and when you need each of them
- Work with co-founders
- Network at startup events — the right way
Date: Saturday, January 21, 2017
Where: Crowley Corporate Legal Strategy
15840 Ventura Boulevard, Suite 311
Encino, CA 91436
For more information and how to register, visit: First Time Entrepreneur Workshop
Trademark application fee increases scheduled for January 14, 2017
As 2017 is fast approaching, we wanted to make sure you are aware that the United States Patent and Trademark Office (USPTO) is increasing some of their fees in 2017.
Effective January 14, 2017, the fee for a trademark application using the online TEAS Regular application will increase to $400 per-class of goods/services (a $75 increase).
It also looks like the USPTO is trying to dissuade people from using paper filings – as those costs are significantly increasing across the board – the fee to file a paper application is increasing by $225 to $600 per-class!
The good news, however, is that if you are requesting an extension of time to file a statement of use with regards to a trademark application, the per-class fee for electronic filings is being reduced by $25 to $125.
We generally try to use the TEAS Reduced Fee (TEAS RF) application whenever possible to submit trademark applications for our clients. The USPTO fee for a TEAS RF application will remain at $275 per- class.
As a reminder, the TEAS RF requirements are:
- Provide a valid e-mail address
- Authorize the USPTO to send e-mail correspondence concerning the application
- Agree to use the Trademark Electronic Application System when filing any relevant application-related submissions.
Failure to comply with these requirements will incur an additional processing fee of $50 per class.
For the full list of USPTO price increases, visit: