News & Analysis as of September 25, 2024

Enforcement Actions

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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 -

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

Digital Asset SEC Timeline - March 2023

Perkins Coie on 3/15/2023

The Digital Asset SEC Timeline serves as an interactive compilation of select SEC guidance, enforcement actions, and speeches relating to the application of the federal securities laws to digital assets. Beginning with the...more

A Brief Overview of the SEC’s Guidance on Cryptocurrencies in the Context of the Commission’s Enforcement Action Against Ripple...

Patterson Belknap Webb & Tyler LLP on 2/4/2022

A key question for any company considering the issuance of cryptocurrency is whether that digital asset will be treated by regulators as a security, like BP stock, or a commodity, like Bitcoin. In 2019, the Securities and...more

NYAG’s Warning to Crypto Businesses Muddies Regulatory Waters

Sheppard Mullin Richter & Hampton LLP on 11/11/2021

New York’s chief law enforcement agency recently squandered an opportunity to bring much needed guidance to the digital assets space. On October 18, the Office of New York Attorney General Letitia James (“NYAG”) issued a...more

Federal Court Evaluates When Cryptocurrency May Constitute a Security in a Criminal Case

Winstead PC on 11/12/2018

The regulatory framework for virtual currencies is evolving, as federal and state regulators and courts wrestle with the circumstances in which cryptocurrencies are securities. For instance, the staff of the Securities and...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

US Blockchain Enforcement and Litigation Update: Government enforcement and private litigation drive important developments in...

Dechert LLP on 6/28/2018

With soaring cryptocurrency prices attracting significant new investment in late 2017, U.S. regulators sought to fill the statutory void by exercising jurisdiction over a variety of digital assets. That trend continued in the...more

SEC's Investigative Report Raises Difficult Questions for ICO Issuers

Jones Day on 8/3/2017

Against the backdrop of recent growth of initial coin or token offerings ("ICOs"), the U.S. Securities and Exchange Commission ("SEC"), on July 25, 2017, published its first public statements on this fundraising practice. The...more

Bit Bites: Latest Legal Developments in Digital Currencies

Manatt, Phelps & Phillips, LLP on 9/30/2014

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

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