Photo of Rebecca G. DiStefano

Rebecca DiStefano concentrates her diverse practice in the areas of securities regulation, corporate finance, and mergers and acquisitions law and serves on the firm's Blockchain Task Force. Rebecca counsels public and private companies in areas including private placements, registrations, Regulation A+ qualifications, and crowdfunding under the JOBS Act of 2012 and the Securities Act of 1933. Related to these transactions, she advises companies and their boards regarding attendant corporate governance best practices, fiduciary duties, continuing disclosure and reporting requirements of Regulation A+ and the Securities Exchange Act of 1934, as well as secondary trading issues and the initial and continued listing of corporate securities on the stock exchanges and electronic quotation systems. Additionally, she structures and organizes for clients non-U.S. regulated investment vehicles including private equity funds, funds of funds, and hybrid funds. Rebecca regularly represents her clients before the U.S. Securities and Exchange Commission and FINRA.


This practice note covers recent market trends in distributed ledger/Blockchain capital funding and regulation. It focuses on the legal framework for capital formation using distributed ledger/Blockchain technology to enable offerings
Continue Reading Market Trends 2019/20: Blockchain Security Token Offerings (STOs) – Regulations, Risks, Opportunities, and Potential for Riches

Gibraltar-based INX Ltd. (the Company) launched its U.S. initial public offering of INX security tokens (INX Tokens) on August 20, 2020, over two years after the July 2018 confidential filing with the Securities and Exchange Commission of its initial draft registration statement on Form F-1. The INX registration marks the first registered offering of security tokens declared effective by the Commission. Prior to INX, at least two other issuers successfully qualified security token offerings with the Commission under the Regulation A, Tier 2 offering exemption. The 130,000,000 INX Tokens are being offered directly to the public in a self-underwritten offering by officers and directors of the Company, with minimum investment requirements to participate.
Continue Reading Gibraltar-Based INX Ltd. Launches SEC-Registered Security Token IPO

SEC Commissioner Hester Peirce on Feb. 6, 2020, delivered a thought-provoking speech entitled Running on Empty: A Proposal to Fill the Gap Between Regulation and Decentralization, accompanied by a
Continue Reading Where Do We Go from Here? Filling the Gap Between Telegram and the Proposed Rule 195 Token Safe Harbor