Insights

The SEC’s new token taxonomy gives the market a clearer vocabulary for digital assets, but one part of the framework is especially important for founders, CFOs, funds, and infrastructure providers working in tokenization: digital securities are still securities. In the SEC’s fact sheet, digital securities, also described as tokenized securities, …

The SEC’s new token taxonomy gives stablecoin issuers and fintech founders something the market has wanted for years: a clearer statement that not every dollar-linked token should be analyzed through the same old generic securities lens. In the SEC’s interpretive release, a stablecoin is defined as a crypto asset designed …

The SEC’s new token taxonomy gives founders and finance teams a more structured way to think about crypto assets that are not designed to function like traditional investment products. Two of the most commercially relevant categories in that framework are digital collectibles and digital tools. In the SEC’s fact sheet, …

Digital Commodities Under the SEC’s New Framework: What “Functional” Really Means for Founders The SEC’s new token taxonomy gives crypto founders, CFOs, and digital asset businesses a more useful framework than the market has had for years. Instead of treating every token as a generic securities-law problem, the Commission now …

For years, crypto founders have operated in a market where the hardest question was often the most basic one: what exactly is this token in the eyes of U.S. regulators? The SEC’s March 17, 2026 interpretive release is important because it gives the market a more structured answer. In its …

On March 17, 2026, the SEC released a significant interpretive framework on crypto assets and crypto transactions. The takeaway is not that “crypto is unregulated.” The real takeaway is that the SEC is drawing sharper lines. The SEC is trying to distinguish between: crypto assets that are not themselves securities, …

This article builds on our earlier piece, SBIR/STTR Reauthorized Through 2031: What Founders Need to Know Now, which explains the broader reset in the SBIR/STTR legal and strategic landscape after Congress renewed the programs through 2031. The most important new commercial feature in the SBIR/STTR reauthorization may not be the …

For months, founders and startup advisors had to treat SBIR and STTR as unstable planning variables. The legal authority had lapsed, agency-level pathways were inconsistent, and many companies were forced to treat non-dilutive funding as optional upside rather than a dependable part of their near-term capital strategy. That planning environment …

Founders love SAFEs because they’re fast, lightweight, and designed to get capital into a startup without the friction of a full priced equity round. But as we tell clients at Veritas Global, “simple” does not mean risk-free, and choosing the wrong SAFE structure can complicate future fundraising or misalign investor …

In our earlier Veritas Global articles on post-money SAFEs with a discount only and post-money SAFEs with a valuation cap, we explained that each SAFE variant solves a different problem. A discount-only SAFE is generally used when the parties are not ready to anchor the company’s value, while a post-money …

Part 7 of 7 in the Capital Raising Series | Veritas Global Law PLLC Throughout this series, we have examined each major securities exemption in detail—from the workhorse private placements of Regulation D to the public-facing pathways of Regulation A and Regulation Crowdfunding. Each exemption serves distinct purposes and imposes …

An emerging manager can lose weeks in diligence without having a missing document. The problem may be that the limited partnership agreement in the data room is not the version described in the due diligence questionnaire. The track-record workbook may not tie to the deck. A compliance policy may name …

A private fund can have a final limited partnership agreement, a carefully drafted private placement memorandum, a completed due diligence questionnaire, and a polished pitch deck—and still tell four different stories. The differences usually appear at the points that matter most to an investor: what the fund may invest in, …

A manager can be ready to announce a private fund and still be unprepared to admit its first investor. The limited partnership agreement may be nearly final while the bank account is not open. The administrator may be selected but not configured for investor-specific fee terms. A subscription package may …

Part 7 of 7 in the Capital Raising Series | Veritas Global Law PLLC Throughout this series, we have examined each major securities exemption in detail—from the workhorse private placements of Regulation D to the public-facing pathways of Regulation A and Regulation Crowdfunding. Each exemption serves distinct purposes and imposes …

Part 6 of 7 in the Capital Raising Series | Veritas Global Law PLLC For most of securities law history, investing in private companies was the exclusive domain of the wealthy and well-connected. Ordinary investors could purchase publicly traded stocks but were largely shut out from early-stage companies where significant …

Part 5 of 7 in the Capital Raising Series | Veritas Global Law PLLC Between the private world of Regulation D and the fully public realm of registered offerings lies Regulation A—an exemption that offers a middle path for companies seeking significant capital without the full burden of going public …

The SEC’s new token taxonomy gives the market a clearer vocabulary for digital assets, but one part of the framework is especially important for founders, CFOs, funds, and infrastructure providers working in tokenization: digital securities are still securities. In the SEC’s fact sheet, digital securities, also described as tokenized securities, …

The SEC’s new token taxonomy gives stablecoin issuers and fintech founders something the market has wanted for years: a clearer statement that not every dollar-linked token should be analyzed through the same old generic securities lens. In the SEC’s interpretive release, a stablecoin is defined as a crypto asset designed …

The SEC’s new token taxonomy gives founders and finance teams a more structured way to think about crypto assets that are not designed to function like traditional investment products. Two of the most commercially relevant categories in that framework are digital collectibles and digital tools. In the SEC’s fact sheet, …

For years, crypto founders have operated in a market where the hardest question was often the most basic one: what exactly is this token in the eyes of U.S. regulators? The SEC’s March 17, 2026 interpretive release is important because it gives the market a more structured answer. In its …

Part 7 of 7 in the Capital Raising Series | Veritas Global Law PLLC Throughout this series, we have examined each major securities exemption in detail—from the workhorse private placements of Regulation D to the public-facing pathways of Regulation A and Regulation Crowdfunding. Each exemption serves distinct purposes and imposes …

Part 6 of 7 in the Capital Raising Series | Veritas Global Law PLLC For most of securities law history, investing in private companies was the exclusive domain of the wealthy and well-connected. Ordinary investors could purchase publicly traded stocks but were largely shut out from early-stage companies where significant …