Danilov & Konradi LLP Advises on the World’s First Tokenized Cryptocurrency Index

Danilov & Konradi LLP Advises on the World’s First Tokenized Cryptocurrency Index

Austin, TX and Moscow, RU (BLOCK512) Danilov & Konradi LLP announces the establishment of its Initial Coin Offering (ICO) and Blockchain Practice Group with the launch by CRYPTO20 of the world’s first tokenized cryptocurrencyA cryptocurrency (or crypto currency) is a digital asset designed to provide secure transactions using cryptography.  Cryptocurrencies are often referred to as alternative currency, virtual currency or digital currency. index and its ICO. Comprised of Brian Konradi, Andrei Danilov, Lyudmila Merkulova, and Peter Khokhlov the D&K ICO and BlockchainA distributed database with of blocks containing time-stamped transaction information and digitally linked to those around them to create a tamper-proof chain. Practice Group was hired by CRYPTO20 to advise on its ICO, which launched on 16 October 2017. CRYPTO20 has seen a robust start to the ICO period with over 3,000 international backers and more than US$6 million in total funds raised to date. The ICO will close on 30 November 2017.

CRYPTO20’s ICO introduced a new cryptocurrency paradigm based on an autonomously managed “cryptocurrency portfolio” where participants can buy a single C20 token, which holds balanced positions in the top 20 cryptocurrencies as underlying crypto assets. The groundbreaking index, optimized using data science principles, offers investors a way to track the performance of the crypto markets by holding a single crypto asset, the C20 token, while providing full blockchain transparency through secure smart contracts.

Danilov & Konradi’s advice covered international legal, tax, and government compliance matters, securities regulation, the legal token purchase agreement, white paper review, and corporate legal matters.

“CRYPTO20’s ICO was unique in several ways,” explains lead attorney, Brian Konradi.  “The CRYPTO20 team had already built their platform before going to the market, but they were needing to incorporate legal advice prior to their launch.  Together with their advisory group partner BLOCK512, we were excited to help guide the CRYPTO20 team through the legal aspects of launching an entirely new kind of token.”

CRYPTO20’s ICO is the firm’s first project in cooperation with BLOCK512, a consortium of experts providing insights, advisory, and acceleration services for Blockchain enabled solutions and ICOs. In September 2017, Danilov & Konradi LLP partnered with BLOCK512 to promote each other as preferred advisors in the ICO marketplace. “Having Danilov & Konradi team as a legal partner brings a higher level of compliance to the CRYPTO20 ICO,” said Jeremy Drzal, BLOCK512 Founder, and CEO. “Brian and the D&K team helped navigate the many complexities that can arise during an ICO.”

ABOUT DANILOV & KONRADI

Danilov & Konradi LLP is an international law firm with practices in multiple areas: general corporate, private equity, corporate finance, tax and forex regulation and control, antimonopoly legislation, oil and gas, energy, and litigation. The firm launched its ICO and Blockchain Practice Group in 2017.  With offices in Moscow (Russia) and Austin (Texas, USA), the firm advises its clients under US, English, Russian, and Singapore law. Discover more at https://www.danilovkonradi.com/

ABOUT CRYPTO20

CRYPTO20™ is an autonomous, rebalanced cryptocurrency index that tracks the top 20 cryptocurrencies in a similar way as the S&P500 tracks the top 500 US company stocks. Token-holders are able to liquidate the C20 token for their share of the underlying assets via the smart contract. By going directly to the end-user as a cryptocurrency itself, CRYPTO20 gives participants the ability to sell or exchange their tokens. C20 is AML/KYC compliant and aims to bring cryptocurrency portfolios to the mainstream with its proven structure and transparent approach. Discover more at https://crypto20.com

ABOUT BLOCK512

BLOCK512™ is a platform agnostic consortium of experts providing Insights, Advisory, and Acceleration services for blockchain-enabled solutions and ICOs with viable business models. Founded in Austin, TX and with offices around the world, the BLOCK512 team of advisors brings experience managing ICOs and strategic projects, programs and operations for companies of all sizes. Discover more at https://block512.com  or call +1-512-203-7711

For more information, please contact Brian Konradi at bkonradi@dk-legal.com or +1-512-322-5355 / +7-495-134-4400.

Published at Sat, 28 Oct 2017 20:17:56 +0000