Jones Day Partner, Receiver Discusses Digital Asset Challenges in ICO Suit | The Recorder

In a suit filed a month ago by the SEC against Texas-based AriseBank for alleged securities violations related to an ICO, U.S. District Chief Judge Barbara Lynn appointed Jones Day partner Mark Rasmussen in Dallas as the first-ever neutral receiver in an ICO enforcement action. In his new role, Rasmussen will oversee all the assets of AriseBank and its affiliates. AriseBank, which calls itself a “decentralized bank,” claims to have raised more than $600 million from an ICO that the SEC considers to be a fraud by AriseBank and its founders, Stanley Ford and Jared Rice Sr.

via Jones Day Partner, Receiver Discusses Digital Asset Challenges in ICO Suit | The Recorder.