CO Securities Commissioner issues first interpretation that digital asset would not be a security to Foundry Legal aerospace client

Canva - Close-up of Coins1

Colorado’s Department of Regulatory Agencies, Division of Securities opined on Tuesday, February 26 in an interpretive opinion that a digital asset to be developed by a Colorado aerospace technology company would not be considered a security under Colorado securities laws.

The opinion was requested on behalf of SpaceBridge Logistics, Inc. The company asked the Division to clarify that a digital asset issued for the consumptive purpose of exchanges for in-space repair and maintenance services was not a security. The Commissioner agreed, finding that the Division “does not consider these activities to meet the definition of a ‘security’ under § 11-51-201, C.R.S.”

Primary source materials:

You might also enjoy

Foundry Legal is a law practice.  We primarily focus on data privacy, emerging technology companies and social impact organizations, and capital formation through private securities offerings and strategic investments/acquisitions. 

Occasionally we will find an issue that really, really goes against something we stand for and when that happens we won’t hestitate to get involved.  

The firm serves clients across a range of industries, including new agriculture, financial institutions, aerospace, and professional services.  We are in Denver, Colorado.  Other stuff about us

Other Thoughts on Things

blockchain

Blockchain and Fintech

At the intersection of governance, data security, payments and financial services, and securities regulation lies the blockchain industry. Luckily for our clients, these topics are

compliance

Privacy and Data Security

Businesses are rapidly changing how they use, store, and transmit data.  Companies are dealing with both state-specific and industry-level regulations.  Many of these regulations carry

commercial contracts

Founder Disputes & Business Divorces

One of the most overlooked and under-appreciated aspect of starting a business with other people is the human relationship. Like in any partnership, there is