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Cryptocurrency Securities

Dechert LLP

Securities and Derivative Litigation: Quarterly Update - September 2024

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Highlight the Third Circuit’s adoption of the de novo standard of review in evaluating appeals of derivative litigation demand-futility decisions; Explore the Sixth Circuit’s recognition of the applicability of the...more

Cornerstone Research

Securities Class Action Filings: 2024 Midyear Assessment

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The number of securities class action filings increased in the first half of 2024 relative to the second half of 2023, according to a report released today by Cornerstone Research and the Stanford Law School Securities Class...more

Polsinelli

Assessing the Landscape: One Year into the SEC’s Litigation Against Major U.S. Digital Asset Exchanges

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The SEC’s litigation against the largest digital asset exchanges in America has been unfolding for over a year, beginning with the agency suing various Binance entities in June 2023, followed by actions against Coinbase...more

Polsinelli

Blockchain+ Bi-Weekly: July 2024

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The last week of June saw a flurry of legal developments in quick succession. The SEC sued Consensys, the developers of the largest self-custodial digital wallet (MetaMask). The IRS released its digital asset tax rules. The...more

Skadden, Arps, Slate, Meagher & Flom LLP

Court Declines To Dismiss Securities Class Action Alleging That DraftKings NFTs Are ‘Securities’

Securities litigation arising from the purchase or sale of digital products such as cryptocurrencies, nonfungible tokens (NFTs) and security tokens has proliferated in recent years. A gating question in these cases is whether...more

Cadwalader, Wickersham & Taft LLP

A New Age of PerFFFection June 2024 - Potential Impact of UCC Article 12 on Fund Finance Transactions

At the bottom of the stack in investment fund structures, there are generally “real” assets—things like equity interests in portfolio companies, mortgage loans, commercial receivables, maybe even bricks and mortar. Fund...more

Carr Maloney P.C.

Supreme Court to Determine Pleading Standard in Shareholder Class Actions

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On June 17, 2024, the U.S. Supreme Court granted certiorari on Nvidia’s appeal of the Ninth Circuit’s decision to revive a shareholder class action lawsuit against the company. The Supreme Court will consider the appropriate...more

Paul Hastings LLP

MiCA – ESMA’s Mandates for Crypto Market Abuse, Suitability and Crypto Transfer Services

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Crypto-asset firms are increasingly focused on the impact of MiCA on their businesses both from the perspective of high-level strategy and in relation to changes to their day-to-day compliance arrangements. MiCA represents a...more

White & Case LLP

eWpG – Bilingual version (GER – EN)

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In an effort to further facilitate your navigation through the complex landscape of digital securities, we have taken the initiative to translate an essential piece of German legislation – the Act on the Introduction of...more

White & Case LLP

eWpRV – Bilingual version (GER – EN)

White & Case LLP on

In an effort to further facilitate your navigation through the complex landscape of digital securities, we have taken the initiative to translate an essential piece of German legislation – the Regulation on Requirements for...more

Bradley Arant Boult Cummings LLP

Q&A with the Mississippi Securities Division: New Technology, New Rules and New Challenges

The Mississippi Securities Division is the closest regulator to the investing public of Mississippi.  Among other tasks, they protect investors from fraud and abuse and make sure those licensed securities professionals doing...more

Latham & Watkins LLP

US House of Representatives Passes Financial Innovation and Technology for the 21st Century Act

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FIT21 would provide regulatory certainty for the US digital asset ecosystem, balancing support for innovation with consumer protection....more

A&O Shearman

SEC Achieves Jury Verdict In Cryptocurrency Fraud Case

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On April 5, 2024, a jury in the Southern District of New York found cryptocurrency startup Terraform Labs PTE Ltd. (the “Company”) and its co-founder, Do Kwon, liable for securities fraud. The jury sided with the SEC in...more

Jones & Keller, P.C.

Crypto and Securities Law: Lessons from SEC v. Coinbase

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...A recent decision in an SEC enforcement action against Coinbase, the largest crypto-asset trading platform in the U.S., provides some long-awaited guidance on a topic that has been the subject of considerable debate in the...more

Dechert LLP

Cryptocurrency Securities Class Action Litigation 2023 Year Review

Dechert LLP on

The year 2023 witnessed a recovery in the cryptocurrency and digital assets market corresponding with fewer crypto-related securities class action litigation actions than in 2022. Despite this decrease, the nature of the...more

Dechert LLP

Securities and Derivative Litigation: Quarterly Update - February 2024

Dechert LLP on

As we close out 2023 and begin the first quarter of 2024, securities and derivative litigation continues to evolve. In this quarterly update, we examine trends in federal securities class action filings, which saw an uptick...more

Cornerstone Research

Securities Class Action Filing Activity Increased Slightly in 2023, Reversing Recent Years’ Declines

Cornerstone Research on

The number of securities class action lawsuits increased slightly in 2023, reversing the trend of decline over the last three consecutive years, according to a report released today by Cornerstone Research and the Stanford...more

Mintz

SEC Approves Spot Bitcoin ETFs But Gensler Still Disapproves of Crypto

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On January 10, 2024, the U.S. Securities and Exchange Commission (“SEC”) approved eleven applications for spot exchange-traded funds (“ETFs”) tracking Bitcoin. This landmark moment for the crypto asset industry has been over...more

ASKramer Law

A Comprehensive Guide to the Deductibility of Digital Asset Losses

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In November 2023, almost 11,000 cryptocurrencies and digital tokens were listed on CoinMarketCaps.com. In addition, tens of thousands of non-fungible tokens (NFTs) are sold daily on various crypto exchanges and NFT platforms....more

Skadden, Arps, Slate, Meagher & Flom LLP

JPEX Is Test Case for Hong Kong’s New Regulatory Regime for Virtual Asset Exchanges

Hong Kong regulators recently brought criminal enforcement actions against virtual asset trading platform JPEX and individuals associated with the platform. This case has become the first opportunity for local authorities to...more

Cozen O'Connor

New York AG Alleges Fraud was the Genesis of $1 Billion in Crypto Losses

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New York AG Letitia James filed a lawsuit against cryptocurrency companies Gemini Trust Company, LLC; Genesis Global Capital, LLC and its affiliates (“Genesis”); Digital Currency Group, Inc.; and the CEOs of Genesis and DCG...more

BakerHostetler

Bank Launches Blockchain Network; Stablecoin Initiatives Launch in Foreign Markets; New Crypto Guidance Published; Reports Provide...

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U.S. Bank Launches Blockchain Network, Crypto Bank Gains Securities License - According to recent reports, the largest bank in the U.S. has gone live with its blockchain-based Tokenized Collateral Network (TCN) and...more

A&O Shearman

SEC Sues Company For Unregistered Offerings Of NFTs

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On September 13, 2023, the U.S. Securities and Exchange Commission brought a settled enforcement action against Stoner Cats 2 LLC for raising approximately $8 million through an unregistered offering of Non-Fungible Tokens...more

Kohn, Kohn & Colapinto LLP

Gensler discusses markets “ripe with misconduct” and new SEC rules to address Changing Times

On September 12, the U.S. Securities and Exchange Commission (SEC) Chair Gary Gensler testified before the U.S. Senate Committee on Banking, Housing, and Urban Affairs. His testimony emphasized that market growth combined...more

BakerHostetler

Crypto Custody Services Expand; CFTC Enforcement Targets DeFi, SEC Targets NFTs; FinCEN Warns of Crypto Scams; Major Hacks Steal...

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Financial Services Firms Expand Cryptocurrency Custody Services - According to recent reports, the cryptocurrency custody arm of a major international bank has launched its institutional cryptocurrency custody services in...more

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