Since the inception of Bitcoin in 2009, certain digital tokens (often referred to as cryptocurrencies) have been popularized as secure, decentralized and private alternatives to government-controlled currencies. More...more
Proceeds from ICOs topped $5 billion in 2017, $1 billion of which originated in the United States. Since blockchain technology has a variety of applications and blockchain tokens may have a variety of characteristics, it is...more
The Director of the SEC’s Division of Corporation Finance William Hinman gave a speech in which he discussed whether a digital asset originally offered as a security can become something other than a security over time. The...more
US state and federal regulators recently offered carrots to guide market actors toward better behavior and are using the stick of enforcement actions to discourage fraud in ICOs and other cryptocurrency-related offerings....more
Trading venues for blockchain tokens and other digital assets, such as exchanges and alternative trading systems and other liquidity providers are becoming subject to increased regulatory scrutiny from both federal and state...more
The Office of Foreign Asset Control of the Department of Treasury (OFAC) forecasted that it “may include as identifiers on the SDN List specific digital currency addresses associated with blocked persons.”
SDN stands for...more
As US regulators have been active in terms of virtual currency regulation, there are three important updates to which attention should be paid. The New York State DFS guidance, the FinCEN letter to Senator Wyden and the...more
3/27/2018
/ Anti-Money Laundering ,
Blockchain ,
CFTC ,
Commodities ,
Department of Financial Services ,
FinCEN ,
Fraud ,
Fraud Prevention ,
Initial Coin Offering (ICOs) ,
Market Participants ,
Money Transmitter ,
New Guidance ,
Reporting Requirements ,
Securities and Exchange Commission (SEC) ,
U.S. Treasury ,
Virtual Currency
On February 7, 2018, the New York Department of Financial Services issued “Guidance on Prevention of Market Manipulation and Other Wrongful Activity” imposing stringent reporting requirements of which virtual currency...more
As 2017 fades in the rear view mirror of the speeding car that is blockchain, five significant regulatory issues will likely be speedbumps for blockchain tokens in 2018. Pundits spend much time talking about blockchain tokens...more
The SEC has recently taken significant public steps in the regulation of token sales (popularly known as initial coin offerings, or ICOs) relating to blockchain. While the SEC Guidance provides clarity for critical points and...more
On October 9, 2017, the Uniform Law Commission released a proposed state statute, which, if adopted, will require a new type of state licensure for persons engaging in “virtual business activities.” The proposed regulation...more
On October 17, 2017, the Commodity Futures Trading Commission’s LabCFTC released “A CFTC Primer on Virtual Currencies.” The Primer provides an overview or virtual currencies and their potential uses, discusses the role of...more