News & Analysis as of

Virtual Currency

Virtual Currency (aka Digital Currency or Digital Money) is a type of currency or medium of exchange that is not issued by any government nor guaranteed by a government currency. Despite lacking legal tender... more +
Virtual Currency (aka Digital Currency or Digital Money) is a type of currency or medium of exchange that is not issued by any government nor guaranteed by a government currency. Despite lacking legal tender status, Virtual Currency is still traded and exchanged in some environments, typically online environments or communities. Bitcoin is the most well-known form of Virtual Currency.    less -

Wild West No Longer: The SEC Brings Enforcement Actions Against Two Initial Coin Offerings

Ending months of speculation about when regulators would wade into the world of Bitcoin and other digital currencies, the U.S. Securities and Exchange Commission (“SEC”) recently brought its first enforcement actions against...more

SEC Brings First Enforcement Action Related to Initial Coin Offerings

by Jones Day on

The Situation: Promoters of two recent initial coin offerings face charges of investor fraud brought by the SEC, after allegedly misrepresenting the assets purportedly backing the offerings, exaggerating the amount of funds...more

SEC Brings Fraud Action Against ICO Creator

In its first lawsuit targeting Initial Coin Offerings (ICOs), the Securities and Exchange Commission (SEC) has filed fraud charges against the creator of the ICOs marketed as “REcoin” and “DRC.” The action, filed in the...more

SEC Gets Tough on ICOs, Files First Fraud Case

The SEC has filed charges against multiple ICO sponsors alleging securities law violations. The Securities and Exchange Commission (the Commission) has put its digital money where its mouth is. After concluding in a July...more

Blockchain Energizer – Vol. 14

by K&L Gates LLP on

There is a lot of buzz around blockchain technology and its potential to revolutionize a wide range of industries from finance and health care to real estate and supply chain management. Reports estimate that over $1.4...more

This Week In Securities Litigation

by Dorsey & Whitney LLP on

Insider trading was a key focus this week. The Commission brought three cases, one involving a doctor tipped by a friend at the company; a second involving a going private transaction were a tip from an insider to his long...more

The SEC Takes Action Against Peddler of Allegedly Fraudulent ICOs

by Hogan Lovells on

On Friday, September 29, the SEC filed an emergency action in Federal District Court in New York against Maksim Zaslavskiy and two of his companies, REcoin Group and Diamond Reserve Club. Please see full Publication below...more

SEC Cracks Down on Fraudulent ICOs in Latest Enforcement Action

by Pepper Hamilton LLP on

Two initial coin offerings (ICOs) were the target of a Securities and Exchange Commission (SEC) enforcement action filed on September 29. Based on the SEC’s descriptions, both ICOs, on their face, appear to be frauds, with...more

The SEC Addresses Initial Coin Offerings

by Carlton Fields on

On July 25, 2017, the Securities and Exchange Commission (SEC) issued a Report of Investigation pursuant to Section 21(a) of the Securities Exchange Act of 1934 (Report) and an Investor Bulletin: Initial Coin Offerings...more

SEC Advisory Committee To Discuss Implications of Blockchain for Securities Markets – No Action Imminent

by BakerHostetler on

Blockchain technology has made the agenda for the October 12, 2017 meeting of the SEC’s Investment Advisory Committee, the SEC announced on September 22, 2017. The Committee will be hosting a two-hour panel discussion among...more

SEC Busts Fraudulent Initial Coin Offerings

The SEC charged a businessman and two companies with defrauding investors in a pair of so-called initial coin offerings, or ICOs, purportedly backed by investments in real estate and diamonds....more

Announcement Clarifies Regulatory Position on Initial Coin Offerings in Hong Kong

by Jones Day on

The Situation: The Hong Kong Securities and Futures Commission has issued a statement explaining that, depending on the facts and circumstances of an initial coin offering ("ICO"), the ICO and any digital tokens that are...more

ICOs are more than a token gesture: an assessment of some of the key considerations for issuers of and investors in ICOs

by DLA Piper on

With total amounts raised in initial coin offerings (ICOs) this year exceeding US$2 billion and a number of sales coming forward each month, there is an understandable interest in the operation of this new phenomenon....more

China moves to limit activities relating to ICOs and Cryptocurrencies: game over or level up?

by Hogan Lovells on

On 4 September 2017, the People's Bank of China ("PBOC") and six other government agencies issued the Statement on Preventing the Risks of Fund Raising through Initial Coin Offerings (the "ICO Statement"), declaring that...more

New York Virtual Currency Business License: What To Know

by Cole Schotz on

New York entrepreneurs in the virtual currency space must be careful to follow New York’s licensing requirements enacted under Financial Services Law Sections 102, 104, 201, 206, 301, 302, 309, and 408. Under the new...more

Blockchain Energizer Vol. 13

by K&L Gates LLP on

There is a lot of buzz around blockchain technology and its potential to revolutionize a wide range of industries from finance and health care to real estate and supply chain management. Reports estimate that over $1.4...more

Beijing-Based Cryptocurrency Trading Exchanges Told to Announce Trading Halt

by Perkins Coie on

Under the impact of the Chinese government’s recent formal notices of halting ICOs, Notice 99 and Joint Notice released on September 2, 2017 and September 4, 2017 respectively, Beijing authorities have taken further actions...more

China Halts ICOs and Token Sales and China-Based Trading Platforms Suspend Trading Amid Reports of Additional Government...

by Perkins Coie on

The government of the People’s Republic of China (PRC) has formally announced a suspension to all ICOs and token offerings and financing activities by releasing two notices, namely, the Notice of Seven Ministries Including...more

Tax-Free Cryptocurrency Transactions Could Come with Reporting Obligations

by K&L Gates LLP on

As cryptocurrencies such as Bitcoin and Ethereum become more prevalent in investment circles and acceptable for commercial transactions, the United States Internal Revenue Service (“IRS”) has said little other than to label...more

Bill Introduced In Congress To Exempt Small Bitcoin Transactions From Income Tax

by Fox Rothschild LLP on

Two members of Congress have introduced a bill that would exempt from income tax transactions under $600 conducted using Bitcoin or other digital currencies. Currently, the Internal Revenue Service treats digital currencies...more

Blockchain Week in Review – September 2017 #7

by Perkins Coie on

Below is a summary of some of the significant legal and regulatory actions that occurred over the past week. This alert is not intended to be a comprehensive list of all such developments, but rather a selection of...more

Every Day is Bitcoin Pizza Day: What Clients and Estate Planners Need to Know about Virtual Currency

by Murtha Cullina on

The combined value of all of the 867 crypto currencies tracked by CoinMarketCap.com is presently over $161 billion. Only seven years ago, on what is commemorated as “Bitcoin Pizza Day,” Bitcoin, then a new crypto currency,...more

Blockchain Energizer - Volume 12

by K&L Gates LLP on

There is a lot of buzz around blockchain technology and its potential to revolutionize a wide range of industries from finance and healthcare to real estate and supply chain management. Reports estimate that over $1.4 billion...more

No Summer Vacation for Distributed Ledger Technology

by Reed Smith on

As regulators across the globe turn their attention to distributed ledger technology (DLT), developments in this space have been in the news almost weekly this summer. In the past six weeks alone regulators in the United...more

ICOs Facing An Uncertain Future

by Ifrah PLLC on

This week, in a joint statement issued by the People’s Bank of China, the securities and banking regulators, and other government agencies, the Chinese government declared that initial coin offerings (ICOs) constitute...more

596 Results
|
View per page
Page: of 24
Cybersecurity

"My best business intelligence,
in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:
Sign up using*

Already signed up? Log in here

*By using the service, you signify your acceptance of JD Supra's Privacy Policy.
*With LinkedIn, you don't need to create a separate login to manage your free JD Supra account, and we can make suggestions based on your needs and interests. We will not post anything on LinkedIn in your name. Or, sign up using your email address.