On September 7, 2023, the Commodity Futures Trading Commission (CFTC) simultaneously filed and settled charges against three decentralized finance (DeFi) platforms, signaling a significant step toward CFTC regulatory...more
On August 28, 2023, the US Securities and Exchange Commission (SEC) announced an enforcement action against Impact Theory, LLC, alleging that Impact Theory’s public sale of approximately $30 million in crypto assets violated...more
To find community, resources and support to help accelerate your career and fuel your success, we invite you to join us for our Women in FinTech Networking Series, bringing together senior women across the FinTech industry....more
As a recap: This session we discussed the opportunities and challenges that come with the advent of the metaverse. We were joined by Samrah Kazmi, co-founder and COO at Maiden Century, Inc. and founder and CEO of Women in...more
To find community, resources and support to help accelerate your career and fuel your success, we invite you to join us for our Women in FinTech Networking Series, bringing together senior women across the FinTech industry....more
On July 21, 2022, the US Securities and Exchange Commission (SEC) filed a civil enforcement action alleging that from at least June 2021 to April 2022, the three named defendants orchestrated and perpetrated an insider...more
8/11/2022
/ CFTC ,
Coinbase ,
Criminal Prosecution ,
Crypto Exchanges ,
Cryptoassets ,
Cryptocurrency ,
Department of Justice (DOJ) ,
Enforcement Actions ,
Illegal Tipping ,
Indictments ,
Insider Trading ,
Popular ,
Rule 10(b) ,
Securities and Exchange Commission (SEC) ,
Securities Exchange Act of 1934 ,
Wire Fraud
The Commodity Futures Trading Commission (CFTC) has filed a civil enforcement action in the US District Court for the Western District of Texas charging Cornelius Johannes Steynberg and Mirror Trading International...more
To find community, resources and support to help accelerate your career and fuel your success, we invite you to join us for our Women in FinTech Networking Series, bringing together senior women across the FinTech industry....more
6/9/2022
/ Blockchain ,
Career Development ,
Cryptocurrency ,
Cyber Crimes ,
Cybersecurity ,
Financial Crimes ,
Financial Services Industry ,
FinTech ,
Money Laundering ,
Non-Fungible Tokens (NFTs) ,
Popular ,
Professional Networking ,
Technology Sector ,
Webinars
Research shows that companies with at least one woman on the board perform 26% better than those with male-only boards, but women make up only about 20% of C-Suite representation in FinTech. In this male-dominated industry,...more
On March 9, 2022, US President Joe Biden signed an unprecedented executive order directing federal agencies to coordinate their approach to clarifying cryptocurrency regulations. Sighs of relief were heard across the industry...more
3/11/2022
/ Biden Administration ,
Central Bank Digital Currency (CBDCs) ,
Consumers ,
Cryptocurrency ,
Digital Assets ,
Executive Orders ,
Financial Services Industry ,
Investors ,
New Legislation ,
Regulatory Agenda ,
Technology ,
Virtual Currency
The cryptocurrency legal and compliance landscape is constantly changing, and there’s more scrutiny than ever before on the industry. Please join leading experts from McDermott Will & Emery and Bates Group for a discussion on...more
On October 15, 2021, the US Department of the Treasury’s Office of Foreign Asset Control (OFAC) announced updated guidance for virtual currency companies in meeting their obligations under US sanctions laws. On the same day,...more
The Commodity Futures Trading Commission (CFTC) sent shockwaves across the cryptocurrency industry when it issued a $1.25 million settlement order with Kraken, one of the industry’s largest market participants. The next day,...more
10/4/2021
/ Bitcoin ,
CFTC ,
Commodity Exchange Act (CEA) ,
Cryptocurrency ,
Department of Justice (DOJ) ,
Enforcement Actions ,
Ethereum ,
New Guidance ,
Regulatory Agencies ,
Securities and Exchange Commission (SEC) ,
Settlement ,
U.S. Treasury
We invite you to attend McDermottTech 2021, a virtual conference exploring the latest global trends impacting the technology industry.
Please join us for this complimentary program on September 21, 2021, for the opportunity...more
8/18/2021
/ Banking Sector ,
Central Bank Digital Currency (CBDCs) ,
Cryptocurrency ,
Cyber Attacks ,
Cybersecurity ,
Digital Assets ,
Digital Currency ,
Financial Services Industry ,
Non-Fungible Tokens (NFTs) ,
Popular ,
Ransomware ,
Smart Car ,
Smart Devices ,
Technology Sector ,
Webinars
On August 10, 2021, the Commodity Futures Trading Commission (CFTC) announced that the US District Court for the Southern District of New York entered a consent order against HDR Global Trading Limited, 100x Holding Limited,...more
8/12/2021
/ CFTC ,
Civil Monetary Penalty ,
Commodities ,
Cryptocurrency ,
Derivatives ,
Digital Assets ,
Enforcement Actions ,
FinCEN ,
Popular ,
Regulatory Oversight ,
Securities and Exchange Commission (SEC)
The emergence of blockchain technology has transformed and will continue to disrupt the way companies in various industries conduct business. The technology, strategy and laws in this space are constantly evolving, and as...more
1/24/2020
/ Blockchain ,
Business Development ,
Business Model ,
Corporate Executives ,
Cryptocurrency ,
Distributed Ledger Technology (DLT) ,
Events ,
FinTech ,
Initial Coin Offering (ICOs) ,
Investors ,
Popular ,
Regulatory Standards
The emergence of blockchain technology has transformed and will continue to disrupt the way companies in various industries conduct business. The technology, strategy and laws in this space are constantly evolving, and as...more
McDermott Will & Emery host an in-depth discussion and networking opportunity at our FinTech Digital Identities Forum.
A panel of industry experts provide an update on international blockchain developments and regulations...more
11/12/2019
/ Banking Sector ,
Blockchain ,
Events ,
Financial Services Industry ,
FinTech ,
New Rules ,
Popular ,
Regulatory Requirements ,
Securities Tokens ,
Securities Transactions ,
Technology Sector
The SEC Division of Corporate Finance recently issued a no-action letter to Pocketful of Quarters, confirming that the Division will not recommend any enforcement action if the company sells its blockchain-based tokens...more
8/12/2019
/ Blockchain ,
Division of Corporate Finance ,
Enforcement Actions ,
FinTech ,
Howey ,
No-Action Letters ,
Securities Act of 1933 ,
Securities and Exchange Commission (SEC) ,
Securities Exchange Act ,
Securities Tokens ,
Token Sales
A recent complaint concerning KIK Interactive Inc. filed in the US District Court of the Southern District of New York reveals some SEC priorities for cryptocurrency enforcement actions. The complaint indicates that the SEC...more
6/13/2019
/ Blockchain ,
Cryptocurrency ,
Digital Assets ,
Enforcement Actions ,
Howey ,
Initial Coin Offering (ICOs) ,
Investment Contract ,
Securities and Exchange Commission (SEC) ,
Securities Exchange Act ,
Securities Violations ,
Token Sales ,
Unregistered Securities ,
Virtual Currency
In its long-awaited guidance, the Staff of the Securities and Exchange Commission recently provided a lengthy list of factors to consider when determining whether an initial coin offering (ICO) is a security. While the...more
4/10/2019
/ Blockchain ,
Cryptocurrency ,
Digital Assets ,
Enforcement Actions ,
Howey ,
Initial Coin Offering (ICOs) ,
Intellectual Property Protection ,
Internet Retailers ,
Investment Contract ,
Investors ,
New Guidance ,
Popular ,
Securities and Exchange Commission (SEC) ,
Token Sales ,
Virtual Currency
The SEC Divisions of Corporation Finance, Investment Management, and Trading and Markets recently issued a statement addressing the SEC’s recent digital asset securities actions. This statement confirms the applicability of...more
In two recent enforcement actions, the SEC looked past formal offering documents and cited statements made on Reddit, YouTube and other social media to determine that the AirFox and Paragon ICOs were unregistered sales of...more
US regulators have stepped up their activity in terms of enforcing the regulation of virtual currencies and on September 11, 2018, issued four relevant decisions: FINRA’s first disciplinary action involving cryptocurrencies;...more
Following a three-day bench trial, US District Judge Jack B. Weinstein found in favor of the CFTC and ordered a permanent injunction banning Patrick K. McDonnell from dealing in virtual currency and ordering a judgment for...more