Continuing Education Information Sheet

• Explain how utility tokens are structured and how they differ from security tokens and other digital assets
• Describe the mechanics of an initial coin offering, from issuance to distribution
• Apply the SEC's analytical framework — including the Howey test — to assess whether a token may constitute a security
• Identify the primary legal and regulatory risks that ICO organizers and token purchasers face under U.S. securities law
• Recognize the circumstances under which registration requirements or exemptions are likely to apply to a token offering
• Outline the role legal counsel plays in structuring compliant token offerings and advising clients navigating SEC scrutiny

Intended audience: Legal advisors and executives working with blockchain-based ventures, digital asset platforms, or clients considering token issuances will benefit most from this course, along with compliance professionals advising on SEC regulatory matters.

Level: intermediate

Prerequisites: No prior blockchain or securities law background is required, though a basic familiarity with corporate or financial regulation will be helpful.

Legal Cyber Academy is not an accredited provider; the notes below explain how a learner may self-submitthis activity where their board permits. The pathways shown reflect this course’s subject matter. Always confirm your board’s current rules.

• Finance/securities subject matter — may support CPE where your state board accepts non-NASBA-registered activities.

• CLE (attorneys)

  Many U.S. jurisdictions let an attorney apply for CLE credit for a non-accredited program (often called individual attorney or self-application). Use this certificate plus the course Information Sheet as your supporting documentation. Your state bar or CLE board decides whether credit is granted, how much, and any self-study cap.

• CE / CPD (privacy, insurance, IT)

  Where your professional body recognizes self-reported or self-directed learning (CPD) — for example many privacy (CIPP/CIPM) and security certifications — record this activity using the certificate and Information Sheet. Confirm your program's self-reporting rules and any documentation it requires.

• CPE (accountants)

  NASBA CPE uses a 50-minute credit hour and has strict self-study standards (registered sponsors, word-count-per-credit, and qualifying review questions). This course is NOT a NASBA-registered self-study program. Some state boards accept non-registered activities at their discretion — verify with your board before claiming CPE.