By Herbert Kozlov, Aron Izower, Kari Larsen and Michael Selig ( September 8, 2017, 12:33 PM EDT) -- The spot market for digital tokens, which was once a "Wild West" seemingly outside the scope of most federal regulations, is being integrated into the emerging federal and state regulatory regime. In a period of just over two weeks, the U.S. Securities and Exchange Commission suspended trading in company securities of three publicly traded blockchain-related businesses. Two of these companies have issued digital currencies in the past or intend to do so in the future. The third such company intends to launch a digital currency exchange. Even if a token being offered does not qualify as a security, the SEC may nevertheless suspend trading in the securities of an issuer, or take other enforcement actions with respect to a company or offering otherwise subject to SEC regulation if there is inadequate or inaccurate disclosures with respect to the token being offered or other proposed activities....