News & Analysis as of September 19, 2024

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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 -

Blockchain and Digital Assets News and Trends - August 2024

DLA Piper on 9/3/2024

This monthly bulletin is designed to help companies identify important legal developments governing the use and acceptance of blockchain technology, smart contracts, and digital assets....more

SEC Cryptocurrency Enforcement: June 2023 Update

Cornerstone Research on 7/26/2023

As of June 6, the SEC has brought 24 cryptocurrency enforcement actions between litigations and administrative proceedings. The number of cryptocurrency enforcement actions brought by the SEC in 2023 is advancing at a record...more

Eleventh Circuit Overturns Dismissal of Cryptocurrency Ponzi Scheme Class Action Suit

Goodwin on 3/9/2022

IN THIS ISSUE - Eleventh Circuit Overturns Dismissal of Cryptocurrency Ponzi Scheme Class Action Suit; Federal Court of Appeals Dismisses Leading Fannie Mae and Freddie Mac Shareholder Lawsuits; NY Seeks Blockchain...more

DOJ Releases Cryptocurrency Guidance and Enforcement Framework (Part I of II)

The Volkov Law Group on 11/3/2020

Earlier this month, the Department of Justice (“DOJ”), through its Cyber Digital Task Force (hereinafter the “Task Force”), published its 83-page crypto guidance report titled “Cryptocurrency: An Enforcement Framework.”...more

Defending Against Securities Fraud Litigation Triggered by an SEC Investigation

Oberheiden P.C. on 10/24/2020

For public and private companies in all industries, the risk of being targeted in a U.S. Securities and Exchange Commission (SEC) investigation is a very real concern. As new and innovative securities offerings continue to be...more

BitBlog Bi-Weekly Update - May 2020

Polsinelli on 5/19/2020

With the world slowly coming out of the COVID-19 lock down and the economy hopefully on the path to recovery there have been many developments in the blockchain / crypto space over the last few weeks....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

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

Developments in Cryptocurrency in 2018

Akin Gump Strauss Hauer & Feld LLP on 9/24/2018

• The U.S. Securities and Exchange Commission (SEC) staff made official statements regarding when a token may or may no longer be a security • The SEC continued to bring actions related to cryptocurrency offerings against...more

Increased SEC Enforcement Action and Litigation In the Cryptocurrency Space

Akin Gump Strauss Hauer & Feld LLP on 9/19/2018

As the U.S. Securities and Exchange Commission (SEC) stated previously, it is continuing to scrutinize and commence enforcement actions against companies, advisors and investors involved in the offering of cryptocurrencies...more

Federal Judge Rules Securities Laws May Cover ICOs

Proskauer - Blockchain and the Law on 9/12/2018

U.S. District Judge Raymond Dearie of the Eastern District of New York has ruled that initial coin offerings (ICOs) may be subject to securities law. The ruling came in the court’s denial of defendant Maksim Zaslavkiy’s...more

Bridging the Weeks - August 2018 #4

Katten Muchin Rosenman LLP on 8/28/2018

The Commodity Futures Trading Commission revised its rule related to the responsibilities of chief compliance officers of futures commission merchants, swap dealers and major swap participants, as well as the obligations of...more

Blockchain Week in Review - July 2018 #2

Perkins Coie on 7/31/2018

U.S. Developments - Regulatory Updates - CFTC Issues Customer Advisory Urging Public to Use Caution When Buying Virtual Currencies - On July 16, 2018, the U.S. Commodity Futures Trading Commission (“CFTC”) issued...more

SEC Enforcement Trends: Highlights from Securities Enforcement Forum West 2018

Fenwick & West LLP on 5/18/2018

The Securities Enforcement Forum West 2018 brought together current and former senior U.S. Securities and Exchange Commission and U.S. Department of Justice officials, securities enforcement and white-collar attorneys,...more

Hand it Over: SAFT-Based ICOs Challenged by SEC Subpoenas

Farrell Fritz, P.C. on 3/23/2018

The Wall Street Journal ominously reported on February 28 that the Securities and Exchange Commission recently issued dozens of subpoenas to initial coin offering issuers and their advisors demanding information about the...more

Your Daily Dose of Financial News

Robins Kaplan LLP on 1/26/2018

ECB Chief Mario Draghi’s having none of the US Treasury Secretary’s recent weak-dollar talk, accusing the US official, in not so many words, of “violating agreements among nations against starting currency wars”....more

SEC and CFTC Issue Joint Statement on Virtual Currency Enforcement Actions

Ballard Spahr LLP on 1/22/2018

The following joint statement was issued this last week from the Enforcement Directors of the Securities Exchange Commission and Commodity Futures Trading Commission...more

Data Privacy + Cybersecurity Insider - October 2017 #2

Robinson & Cole LLP on 10/18/2017

FBI Issues Flash Alert on Apache Struts Vulnerability - The Apache Struts vulnerability has been mentioned frequently in the media over the past month, as it is believed to have been involved in one of the largest and most...more

SEC Brings First Enforcement Action Related to Initial Coin Offerings

Jones Day on 10/11/2017

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 Busts Fraudulent Initial Coin Offerings

Stinson - Corporate & Securities Law Blog on 10/2/2017

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

Your daily dose of financial news - The Brief – 7.11.16

Robins Kaplan LLP on 7/11/2016

A putative class action filed last week is accusing 25 prominent banks—including Deutsche Bank, Goldman Sachs, and Barclays—of “conspiring to rig the market for securities” sold by the US Treasury in their roles as primary...more

Your daily dose of financial news The Brief – 3.29.16

Robins Kaplan LLP on 3/29/2016

Major news for the extended Blackstone & private equity family yesterday, as federal authorities arrested Wall Street exec Andrew Caspersen on charges of securities and wire fraud in what they’re labeling a “’brazen’ scheme...more

Corporate and Financial Weekly Digest - Volume IX, Issue 32

Katten Muchin Rosenman LLP on 8/18/2014

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

Corporate and Financial Weekly Digest - Volume IX, Issue 24

Katten Muchin Rosenman LLP on 6/16/2014

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

Corporate and Financial Weekly Digest - Volume IX, Issue 14

Katten Muchin Rosenman LLP on 4/7/2014

In this issue: - SEC Requests Comment on FINRA Rules - CFTC Issues Interpretation Regarding Auditor Independence Standards - OTC Derivatives Regulators Group Issues Report to G20 - NFA...more

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