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

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:

The foregoing article is provided for informational purposes only and is not legal advice or a legal opinion, and does not create an attorney-client relationship. It may not apply to your specific facts or circumstances, and you should not act or rely on any information contained in this article without first seeking the advice of an attorney licensed to practice in your state.

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Foundry Legal is a technology transactions and regulatory practice in Denver, Colorado focused on data privacy, social impact organizations, and capital formation.  The firm serves clients across a range of industries, including new agriculture, financial institutions, aerospace, and professional services.  Other stuff about us

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