News & Analysis as of September 20, 2024

Virtual Currency › Ripple

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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... 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 -

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

BakerHostetler on 9/18/2023

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

Blockchain+ Bi-Weekly - August 2023 #2

Polsinelli on 8/24/2023

The Blockchain Bi-Weekly presented by the Polsinelli Blockchain+ team is a rundown of some of the key stories in the Web3, blockchain and crypto ecosystems curated by our attorneys navigating the intersections of code, smart...more

SEC vs. Ripple Could Make Waves in Cryptocurrency Market

Farrell Fritz, P.C. on 3/8/2021

On December 2, the Securities and Exchange Commission filed a lawsuit against Ripple Labs, Inc. and two of its executives alleging they offered and sold over $1.38 billion of digital asset XRP without registration or...more

Biden Administration Issues Regulatory Freeze On New Agency Rules

Goodwin on 1/29/2021

In this Issue. In one of its first acts after being installed on January 20, the Biden Administration issued a regulatory freeze on new agency rules that have been adopted but are not yet effective; in one of its final acts...more

Biden Administration Faces Last-Ditch Efforts by the Trump Administration to Curb the Digital Assets Industry

Pillsbury Winthrop Shaw Pittman LLP on 1/25/2021

The incoming Biden team will need to quickly address significant digital asset issues, including a major enforcement action and a significant proposed FinCEN rule initiated in the final days of the outgoing administration. ...more

Blockchain Week in Review: October 2020

Perkins Coie on 10/30/2020

U.S. Developments - Kik & SEC Agree to $5M Judgment - On October 20, 2020, Canadian messaging company Kik Interactive Inc. (Kik) and the U.S. Securities and Exchange Commission (SEC) agreed to resolve an ongoing enforcement...more

Hackers Steal $31 million in Cryptocurrency from Bithumb

Robinson+Cole Data Privacy + Security Insider on 6/29/2018

Bithumb, ranked the seventh largest cryptocurrency exchange and located in South Korea, has confirmed that it was hacked and that the thieves absconded with approximately $32 million in coins, including the XRP token issued...more

Ripple Labs Case Will Address Key Cryptocurrency Question

Cohen & Gresser LLP on 6/26/2018

Christian Everdell analyzes the potential implications on the regulation of cryptocurrency as a result of Ryan Coffey v. Ripple Labs, Inc. in his latest article for Law360. It is time to start talking about the elephant in...more

Corporate Investigations & White Collar Defense - May 2015

Manatt, Phelps & Phillips, LLP on 6/2/2015

It’s an Absolute Privilege to Meet You! Texas Supreme Court Rules That Internal Investigation Report Provided by Shell Oil to DOJ Enjoys “Absolute Privilege” - Why it matters: On May 15, 2015, the Texas Supreme Court...more

FinCEN Announces First Civil Enforcement Action Against Virtual Currency Exchanger

Blank Rome LLP on 5/7/2015

Continuing its aggressive anti-money laundering enforcement agenda, the Treasury Department’s Financial Crimes Enforcement Network (FinCEN) announced yesterday that it had commenced the first-ever civil enforcement action...more

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