Virtual Currency Securities & Exchange Commission

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 -
News & Analysis as of

Bridging the Week - August 2015 #2

ESMA Says “No for Now” to Granting Passport Rights to US Fund Managers Under AIFMD - The European Securities and Markets Authority told the European Commission last week that it was premature to grant passport rights to...more

Bridging the Week - August 2015

ESMA Says “No for Now” to Granting Passport Rights to US Fund Managers Under AIFMD: The European Securities and Markets Authority told the European Commission last week that it was premature to grant passport rights to...more

Expect Focus - ONLINE HEALTH CARE: NOT SO FAST Telemedicine Hits A Few Speed Bumps, Volume II, Spring 2015

In This Issue: - IN THE SPOTLIGHT • Risky Business: Common Cyber Security Risks, Expensive Consequences - LIFE INSURANCE • Ninth Circuit Finds Bonus Indexed Annuity Delivers Exactly...more

SEC Says Fantasy Stock Trading Violates Securities Laws; Charges Others for Selling Illegal Security-Based Swaps

The SEC issued an Investor Alert which says fantasy stock trading for small amounts of money can violate provisions of securities laws implemented by the Dodd-Frank Act. I bet the Congressional drafters of these provisions...more

Bridging the Week - June 2015 #2

NYDFS Issues BitLicense Framework for Regulating Virtual Currency Firms - The New York State Department of Financial Services issued final regulations requiring a so-called “BitLicense” and establishing minimum...more

Financial Services Weekly News Roundup - June 2015

Regulatory Developments: Superintendent Lawsky Announces Final BitLicense Regulations - New York State Department of Financial Services (NYDFS) Superintendent Benjamin Lawsky, at the BITS Emerging Payments Forum,...more

Corporate Investigations & White Collar Defense - May 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

Pushing the Envelope: Overstock Seeks SEC Approval for Shelf Offering of Digital Securities

In a recent filing with the Securities and Exchange Commission, Overstock.com, Inc. expanded its foray into world of digital currency technology. Announcing plans to issue digital securities, Overstock will be trailblazing...more

From Wild West to SEC Regulation: Overstock.com’s Proposed Digital Securities & the Lessons of Bitcoin

A first look at Overstock.com's proposal to use a Bitcoin-like technology to distribute and trade in digital securities....more

Corporate & Financial Weekly Digest - Volume X, Issue 16

In this issue: - SEC Committee to Focus on the Order Protection Rule at Upcoming Meeting - CFTC Issues No-Action Relief to SEFs and DCMs in Connection with Swaps with Operational or Clerical Errors - CFTC...more

Bitcoin – The Ever “Curiouser and Curiouser” Bitcoin Wonderland – Part Eleven

“Virtual currencies” in general, and bitcoin in particular, continue to attract media attention as well as intense public and regulatory scrutiny. In the United States, the recent establishment of the Digital Currency...more

Say Hello to the SEC’s Digital Currency Working Group.

Now that enforcement agencies have determined that digital currencies are more than a passing fad, they are establishing more permanent efforts focused on the novel legal issues digital currencies present. The SEC’s formation...more

SEC Fines Virtual Currency Operator For Alleged Registration Violations

On December 8, the SEC fined a computer programmer $68,387.07 for operating two separate online exchanges that traded securities using virtual currency without registering the businesses as broker dealers. Further, the SEC...more

SEC Sanctions Operator of Unregistered Virtual Currency Exchanges

On December 8, the Securities and Exchange Commission sanctioned a computer programmer for operating two online exchanges that traded securities using virtual currencies without registering them as broker-dealers or stock...more

Corporate and Financial Weekly Digest - Volume IX, Issue 48

In this issue: - Recent Developments Relating to Rights to Exclude Shareholder Proposals from Proxy Statements - SEC Approves MSRB Best Execution Rule - SEC Sanctions Operator of Unregistered Virtual...more

SEC Settles with Bitcoin/Litecoin Exchange Operator

The SEC recently announced a settlement in connection with the operation of unregistered virtual-currency-based stock exchanges. The settlement is instructive as to how the SEC will evaluate crypto-currency trading platforms...more

Digital Currency Corner - What FinCEN’s Denial of Payment Processing Exemption for Virtual Currency-Related Businesses Means for...

Why it matters - The rapid evolution of virtual and digital currencies has spawned significant activity in several federal agencies with implications potentially for traditional entities in certain cases. In addition...more

Corporate and Financial Weekly Digest - Volume IX, Issue 44

In this issue: - SEC Sanctions 10 Companies for Disclosure Failures Surrounding Financing Deals and Stock Dilution - Delaware Court of Chancery Rejects Entire Fairness Review in Absence of Conflicted...more

Financial Services Weekly News Roundup - October 2014 #5

In this issue: - In preliminarily denying two exemption requests, the SEC takes a stand for market transparency in ETFs and upholds the arbitrage mechanism that allows market prices to closely track NAVs. -...more

Corporate and Financial Weekly Digest - Volume IX, Issue 40

In this issue: - SEC Division of Corporation Finance Issues New C&DI Related to Rule 147 and Website/Social Media Use - Director of SEC Division of Corporation Finance Gives Speech on Securities...more

Bit Bites: Latest Legal Developments in Digital Currencies

When Is Bitcoin “Money” Versus a “Security”? In motions involving a high-profile criminal prosecution with ties to Silk Road and a Securities and Exchange Commission (SEC) enforcement action, two federal courts have clarified...more

Corporate and Financial Weekly Digest - Volume IX, Issue 32

In this issue: - SEC’s Office of Investor Education and Advocacy Releases Alert on Identifying Fraudulent Private Placements - ICE Futures U.S. Issues Amendments to EFRP Rule and FAQs - Consumer Financial...more

Bitcoin Investment Vehicles Beware – The SEC is Watching

The Securities and Exchange Commission (SEC) recently charged the co-owner of two Bitcoin-related websites for publicly offering shares in the ventures without registering the securities under the Securities Act of 1933 (the...more

Corporate and Financial Weekly Digest - Volume IX, Issue 24

In this issue: - Commissioner Kara M. Stein Calls for More Stringent Net Capital Requirements for Broker Dealers - US Marshals Service Announces Auction of Silk Road Bitcoins - Investment Adviser Accused...more

SEC, Bitcoin and Unregistered Offerings

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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