News & Analysis as of September 19, 2024

Virtual Currency › Offerings

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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 -

The Virtual Currency Regulation Review - November 2022

Stikeman Elliott LLP on 11/7/2022

I - INTRODUCTION TO THE LEGAL AND REGULATORY FRAMEWORK - Canada currently has no comprehensive framework governing the regulation of digital assets. Securities regulation has emerged as the main regulatory instrument in...more

Ring of Fire - SEC Hangs Up on Telegram

Polsinelli on 7/1/2020

After an extended fight with the U.S. Securities and Exchange Commission ("SEC"), Telegram has agreed to resolve charges the company's unregistered offering of digital tokens called "Grams" violated the United States federal...more

A Security By Any Other Name Would Smell As Sweet

Polsinelli on 5/13/2020

“A rose by any other name would smell as sweet.” Like the Shakespearean rose, Ripple Labs faces another claim that its digital asset XRP is a security in a new federal lawsuit in California. The suit filed by Bitcoin...more

Wind of Change - The Year FinTech Came in From the Cold - Polsinelli BitBlog: Year End Edition

Polsinelli on 1/3/2020

Digital assets and Blockchain technologies which were once described as the tools of criminals, are now a key part of efforts by traditional financial services firms to transform their businesses and innovative firms looking...more

What to Make of SEC Leniency in Block.one ICO Settlement?

Farrell Fritz, P.C. on 12/2/2019

On September 30, 2019, the Securities and Exchange Commission announced that blockchain developer Block.one had agreed to pay a $24 million fine to settle charges that it had engaged in an unregistered offering of securities...more

BitBlog Weekly Summary

Polsinelli on 10/2/2019

This summary covers the last two weeks which includes news about continued enforcement actions by the U.S. Securities and Exchange Commission (“SEC”) involving fraudulent digital asset transactions, dismissal of a securities...more

Initial Coin Offerings (ICOs) on SEC’s Radar

Robinson+Cole Data Privacy + Security Insider on 8/26/2019

This month, the Securities and Exchange Commission (SEC) announced that it has entered into a settlement with SimplyVital Health, Inc., a blockchain company that offered and sold approximately $6.3 million worth of securities...more

Kik ICO Litigation: Is the SEC Playing Hard Ball or Soft Ball?

Stinson - Corporate & Securities Law Blog on 6/10/2019

It has been widely reported that the SEC sued Kik Interactive Inc. for conducting an illegal $100 million securities offering of digital tokens. The SEC charges that Kik sold the tokens to U.S. investors without registering...more

Rise of digital finance: Tokenising mining & metals assets - Can tokenised mining royalties and metal streams unlock a new...

White & Case LLP on 6/10/2019

Rapid advances in blockchain technology are reinventing the way companies operate and deliver products and services to their clients. These changes are particularly visible in the mining & metals industry, a sector that has...more

The Distributed Ledger: Blockchain, Digital Assets and Smart Contracts - April 2019

Skadden, Arps, Slate, Meagher & Flom LLP on 4/16/2019

In this issue, we examine the release of the much-anticipated Strategic Hub for Innovation and Financial Technology (FinHub) guidance for analyzing how U.S. federal securities laws apply to initial coin offerings, the...more

SEC Tells How to Fix the Faulty Initial Coin Offering

Stinson - Corporate & Securities Law Blog on 11/19/2018

The SEC simultaneously announced a pair of settled enforcement actions related to illegally offered ICOs with extensive remedial provisions to fix the faulty offerings....more

The SEC’s Pair of Settled Cryptocurrency Enforcement Actions

Burr & Forman on 9/12/2018

On September 11, the SEC announced a pair of settled cryptocurrency enforcement actions. The first was against an unregistered digital-asset hedge fund. The second shut down an “ICO Superstore” as an unregistered...more

Cryptocurrencies Face Rise in Investor Class Actions

Kramer Levin Naftalis & Frankel LLP on 8/3/2018

After a surge in popularity and an increased interest from regulators, virtual currencies — also known as cryptocurrencies — have entered into a new phase in their relatively short history, with an increase in class actions...more

Reminder: Certain U.S. Reporting and Compliance Obligations for Investment Advisers and Funds

Dechert LLP on 1/24/2018

The U.S. federal securities laws and the rules of U.S. self regulatory organizations (such as the Financial Industry Regulatory Authority) impose certain reporting and compliance obligations on investment advisers and funds....more

The SEC and Plaintiffs’ Class Action Attorneys Are Targeting Initial Coin Offerings

Fenwick & West LLP on 1/4/2018

Issuers and other professionals participating in Initial Coin Offerings — widely known as ICOs — are facing the increasing threat of both U.S. Securities Exchange Commission enforcement actions and private class action suits...more

SEC Warns That Digital Tokens May Be Securities

Katten Muchin Rosenman LLP on 8/3/2017

On July 25, the Securities and Exchange Commission (SEC or the Commission) published a Report of Investigation (Report) pursuant to Section 21(a) of the Securities Exchange Act of 19341 concluding that digital tokens issued...more

Your Daily Dose of Financial News

Robins Kaplan LLP on 3/7/2017

The SEC is set to decide this week whether to okay a new ETF that could provide investors easier access to bitcoin, a potentially transformative move for the virtual currency....more

SEC, Bitcoin and Unregistered Offerings

Dorsey & Whitney LLP on 6/4/2014

Bitcoin has been a much discussed item recently. The virtual currency is a digital representation of value that is traded and can serve as a medium of exchange. There are websites that use it. At one time there was a stock...more

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Virtual Currency › Offerings

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