Source: Perkins Coie

Perkins Coie is pleased to announce that it has obtained no-action relief from the Securities and Exchange Commission Staff that clears the way for its client IMVU Inc., to sell VCOIN, a blockchain-based digital asset, as a transferable non-security to its users worldwide.

SEC – Response of the Division of Corporate Finance can be found here.

Perkin Coie’s letter on behalf of IMVU, Inc. can be found here.

Read the full press release here.