On June 6, New York Attorney General (AG) Letitia James filed suit against NovaTech Advisors, LLC, AWS Mining Pty Ltd., and several other entities, alleging the defendants orchestrated two consecutive, fraudulent...more
On June 6, Alabama, California, Illinois, Kentucky, Maryland, New Jersey, South Carolina, Vermont, Washington, and Wisconsin each filed enforcement actions against leading cryptocurrency exchange Coinbase and its parent,...more
7/12/2023
/ Cease and Desist Orders ,
Coinbase ,
Cryptocurrency ,
Enforcement Actions ,
FDIC ,
Securities and Exchange Commission (SEC) ,
Securities Regulation ,
SIPC ,
State Attorneys General ,
Trading Platforms ,
Unregistered Securities
On May 8, 12 states led by Arkansas Attorney General Tim Griffin sent a letter to the Securities and Exchange Commission (SEC), opposing its recently proposed rule to give the commission the authority to regulate...more
On March 9, New York Attorney General Letisha James filed a complaint against leading cryptocurrency exchange KuCoin, alleging violations of the Martin Act, which prevents security sales fraud. AG James claimed that Ethereum...more
New York Attorney General Letitia James led a bipartisan multistate coalition to reach a $24 million settlement with cryptocurrency company Nexo for allegedly offering and selling unregistered securities and commodities. As...more
On January 5, York Attorney General Letitia James sued Celsius founder and former CEO Alex Mashinsky for making repeated misrepresentations about the company’s financial products and asset holdings to investors. AG James...more
A lawsuit stemming from the collapse of multibillion-dollar cryptocurrency exchange FTX seeks to recover a billion dollars from FTX’s founder and former CEO Sam Bankman-Fried, along with 11 paid endorsers, including Tom...more
State regulatory agencies in Alabama, Kentucky, New Jersey, and Texas have increased their efforts to challenge digital asset-related products by issuing cease-and-desist or “show cause” orders against New Jersey-based...more
Not long ago, only the tech-focused were interested in cryptocurrencies and the distributed ledger technologies that make them possible. That has changed. The wins and losses of crypto investors are now center stage, as are...more
8/6/2021
/ Cryptocurrency ,
Department of Justice (DOJ) ,
Distributed Ledger Technology (DLT) ,
FDIC ,
Federal Trade Commission (FTC) ,
Initial Coin Offering (ICOs) ,
IRS ,
OCC ,
Popular ,
Securities and Exchange Commission (SEC) ,
Virtual Currency
Between July 20-22, 2021, state securities regulators in New Jersey, Texas, and Alabama took aim at BlockFi — a cryptocurrency-based platform that has raised $14.7 billion from investors — related to the company’s...more
If you use the internet, you have probably encountered at least one of the scams con artists use to bilk victims. There’s “catfishing” and other online dating fraud, where scammers use fake identities to woo victims into...more
While active in the space for several years, state attorneys general have taken increasingly aggressive action over the last year to regulate crypto-based products and services and prosecute those abusing this otherwise...more