Illustration: Rebecca Zisser / Axios

A group of high-profile venture capitalists and lawyers recently asked the Securities and Exchange Commission to exempt virtual tokens from securities laws, according to the Wall Street Journal.

Why it matters: So far, the SEC has signaled that it views initial coin offerings (ICOs) and token sales as securities, despite attempts by many companies to refer to them as "utility" tokens. But VCs might have tripped themselves up by often participating in "ICO pre-sales" that include pricing discounts, thus making it hard to argue their primary interest is non-financial.

Go deeper

Updated 58 mins ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Global: Total confirmed cases as of 4 p.m. ET: 19,189,737 — Total deaths: 716,669 — Total recoveries — 11,610,192Map.
  2. U.S.: Total confirmed cases as of 4 p.m. ET: 4,917,050 — Total deaths: 160,702 — Total recoveries: 1,598,624 — Total tests: 59,652,675Map.
  3. Politics: White House recommends Trump issue executive orders on coronavirus aid.
  4. Education: Cuomo says all New York schools can reopen for in-person learning.
  5. Public health: Surgeon general urges flu shots to prevent "double whammy" with coronavirus.
  6. World: Africa records over 1 million coronavirus cases — Gates Foundation puts $150 million behind coronavirus vaccine production.

White House recommends Trump issue executive orders on coronavirus aid

Treasury Secretary Steve Mnuchin (L) and White House Chief of Staff Mark Meadows speak to the media on Capitol Hill. Photo: Mandel Ngan/AFP via Getty Images.

White House chief of staff Mark Meadows and Treasury Secretary Steven Mnuchin said President Trump should sign executive orders unilaterally addressing coronavirus stimulus spending after negotiations with congressional Democrats stalled again on Friday.

Why it matters: Friday was viewed as a self-imposed deadline to negotiate a new relief bill. But after an intense week of negotiations on Capitol Hill, White House and Democratic leadership failed to reach a deal on delivering much needed aid to Americans and businesses.

Counterintelligence chief: Russia aiming to “denigrate” Biden ahead of election

William Evanina, director of the National Counterintelligence and Security Center, before Congress in 2018. Photo: Win McNamee/Getty Images

National Counterintelligence and Security Center Director William Evanina said Friday that the Russian government is "using a range of measures" to "denigrate former Vice President Biden" before the November election.

Why it matters: Evanina warned that some Kremlin-linked actors are trying to support President Trump’s candidacy on social media and Russian television, while others are spreading false claims about corruption to undermine Biden and the Democratic Party.