In one of her first acts as Governor of New York, newly appointed Governor Kathy Hochul called for a “Special” legislative session on September 1, 2021, to extend the moratorium on foreclosure and eviction actions provided...more
9/7/2021
/ Coronavirus/COVID-19 ,
Eviction ,
Foreclosure ,
Infectious Diseases ,
Landlords ,
Moratorium ,
Relief Measures ,
Rent ,
Rental Property ,
State and Local Government ,
Tenants
On May 3, 2021, the New York State Senate voted to extend the moratorium on foreclosure and eviction actions provided in the COVID-19 Emergency Eviction and Foreclosure Prevention Act of 2020 (S.9114/A.11181)(the “Eviction...more
After several years of inconsistent decisions involving New York’s six-year statute of limitations for mortgage foreclosure actions, the New York Court of Appeals took the bull by the horns and issued a groundbreaking...more
While New York courts continue to hear cases involving defaulted loan obligations stemming from the 2008 financial crisis, on January 5, 2021, the New York Court of Appeals heard arguments on four related cases involving New...more
Bitfinex—one of the largest cryptocurrency exchange platforms in the world—is under investigation by the New York Attorney General (the “NYAG”) for allegedly violating New York securities law under the Martin Act....more
On April 18, 2019, the Financial Crimes Enforcement Network (“FinCEN”) announced a civil monetary penalty against an individual for operating a peer-to-peer virtual currency exchanger. FinCEN assessed a $35,350 civil...more
On April 10, 2019, U.S. Representatives Warren Davidson (R-OH) and Darren Soto (D-FL) reintroduced the Token Taxonomy Act (“TTA”) in the effort to amend the Securities Act of 1933 and the Securities Exchange Act of 1934 to...more
Yesterday at the Consensus: Invest Conference in New York City, Jay Clayton, Chairman of the U.S. Securities and Exchange Commission (the “Commission”), strongly reaffirmed the guidance put forth by his agency in the last...more
11/29/2018
/ Blockchain ,
Broker-Dealer ,
Cryptocurrency ,
Digital Assets ,
Distributed Ledger Technology (DLT) ,
Initial Coin Offering (ICOs) ,
Popular ,
Registration Requirement ,
Securities and Exchange Commission (SEC) ,
Token Sales ,
Virtual Currency
On July 31, 2018, the Office of the Comptroller of the Currency (the “OCC”) announced that it would begin accepting applications for special-purpose national bank charters from certain FinTech companies – including those that...more
On July 18, 2018, the Bureau of Consumer Financial Protection (the “Bureau”) ( announced the appointment of the head of its newly-created Office of Innovation,1 which will have as its first order of business the creation of a...more
On March 23, 2018, Cboe Global Markets, Inc. (“Cboe”) sent a letter to the Securities and Exchange Commission (the “SEC”), strongly advocating for the registration of exchange-traded funds (“ETFs”) that hold cryptocurrencies...more
At least for now, the Commodities Futures Trading Commission (“CFTC”) will be the leading fraud regulator for cryptocurrency and virtual currency transactions. On Tuesday, March 6, 2018, Judge Jack B. Weinstein of the United...more
For the typical investor, cryptocurrency investment has, since its genesis in the open market, been made largely through direct purchase of the particular currencies via digital wallets or through exchanges such as CoinBase....more
This week China sent digital currencies into a tail spin by issuing the harshest denouncement of cryptocurrencies and other decentralized ledger technologies of any country to date. In a statement from the People’s Bank of...more
On July 27, 2017, the Financial Crimes Enforcement Network for the Department of Treasury (FinCEN) seized the website of the digital currency exchange BTC-e for allegedly operating a multi-billion dollar money laundering...more
On August 1, 2017, Bitcoin, the world’s most capitalized and popular digital currency, was split into two separate blockchains, “Bitcoin”[classic] and “Bitcoin Cash.” The controversial decision to “Hard Fork” Bitcoin’s code...more
Since the inception of cryptocurrencies like Bitcoin, distributed ledger or blockchain transactions have provided creative entrepreneurs with an opportunity to circumvent financial regulations. In response to the emergence of...more
As we get further away from the financial crisis of 2008, the statute of limitations has become a much more asserted and examined defense in mortgage foreclosure actions.
Last week, New York’s Appellate Division, Second...more
Just last week, the Second Circuit applied the least sophisticated consumer standard of the Fair Debt Collection Practices Act (the FDCPA) to effectively conclude that a consumer cannot be expected to know that when they are...more