US Developments -
CFTC and SEC Issue Orders Filing and Settling Charges with Two Entities for Illegal Off-Exchange Trading and Registration Violations -
On July 13, 2020, the Commodity Futures Trading Commission (CFTC) and...more
7/27/2020
/ BitLicense ,
Blockchain ,
CFTC ,
China ,
Cryptocurrency ,
Investment Schemes ,
Japan ,
Popular ,
Securities and Exchange Commission (SEC) ,
Virtual Currency ,
Wire Fraud
U.S. Developments -
BitClave Settles with SEC -
On May 28, 2020 the Securities and Exchange Commission (the “SEC”) announced that a settlement has been reached with BitClave PTE Ltd. (“BitClave”) relating to BitClave’s 2017...more
This is the third and final part of our update series on the CFTC’s recent Guidance related to the “actual delivery” of a digital asset for purposes of the retail commodity transaction provisions of the Commodity Exchange...more
The Regulation of Retail Commodity Transactions—History and Background -
On March 24, 2020, the U.S. Commodity Futures Trading Commission (the Commission or the CFTC) finalized long-awaited interpretive guidance regarding...more
5/4/2020
/ Actual Delivery ,
Bitcoin ,
CFTC ,
Commodities ,
Designated Contract Markets (DCMs) ,
Digital Assets ,
Digital Currency ,
Dodd-Frank ,
Futures ,
Initial Coin Offering (ICOs) ,
Leveraged Finance ,
New Guidance ,
Securities and Exchange Commission (SEC) ,
Securities Exchanges ,
Trading Platforms ,
Virtual Currency
On March 24, 2020, the U.S. Commodity Futures Trading Commission (the Commission or the CFTC) finalized long-awaited interpretive guidance regarding what constitutes the “actual delivery” of a digital asset in the context of...more
5/1/2020
/ Actual Delivery ,
Bitcoin ,
Blockchain ,
Bucket Shop ,
CFTC ,
Commodities ,
Commodity Exchange Act (CEA) ,
Commodity Futures Contracts ,
Designated Contract Markets (DCMs) ,
Digital Assets ,
Digital Currency ,
Dodd-Frank ,
Futures ,
Initial Coin Offering (ICOs) ,
Leveraged Finance ,
New Guidance ,
Securities and Exchange Commission (SEC) ,
Securities Exchanges ,
Trading Platforms ,
Virtual Currency
Weekly Focus
- Replies to Motions for Summary Judgments filed in SEC v. Telegram
- Cases Consolidated in Class Action Suit Against iFinex Inc
- Bittrex Introduces Insurance Coverage
- -Research Report Finds the...more
2/8/2020
/ Bitcoin ,
Blockchain ,
Class Action ,
Coinbase ,
Cryptocurrency ,
Digital Assets ,
Digital Currency ,
Distributed Ledger Technology (DLT) ,
FinTech ,
Public Policy ,
Securities and Exchange Commission (SEC)
U.S. Developments -
VanEck and SolidX to Offer Bitcoin ETF to Qualified Institutional Buyers -
On September 3, 2019, VanEck Securities Corp. and SolidX Management LLC announced that they are seeking to use Rule 144A of...more
9/12/2019
/ Accredited Investors ,
Bitcoin ,
Blockchain ,
China ,
Cryptocurrency ,
EDGAR ,
EU ,
Exchange-Traded Products ,
Financial Services Agency ,
Institutional Investors ,
Investment Management ,
Investors ,
Japan ,
Malta ,
NYDFS ,
Popular ,
Retail Investors ,
Rule 144A ,
Securities ,
Securities Act of 1933 ,
Securities and Exchange Commission (SEC) ,
Token Sales
The U.S. Securities and Exchange Commission (SEC) Strategic Hub for Innovation and Financial Technology (FinHub) published a framework on April 3, 2019, for analyzing whether a digital asset is offered and sold as a security...more
The end of the year has been a very busy time for the SEC in the digital asset space. From speeches to the issuance of joint statements to enforcement actions, there are many things to highlight, discuss and consider. This...more
12/21/2018
/ Blockchain ,
Broker-Dealer ,
Cryptocurrency ,
Digital Assets ,
Distributed Ledger Technology (DLT) ,
Enforcement Actions ,
Howey ,
Initial Coin Offering (ICOs) ,
Investment Company Act of 1940 ,
Investor Protection ,
Investors ,
Popular ,
Registration Requirement ,
Section 5 ,
Securities and Exchange Commission (SEC) ,
Securities Exchange Act ,
Token Sales
During a speech in San Francisco last week at the Yahoo Finance All Markets Summit, William Hinman, Director of the Division of Corporation Finance of the Securities and Exchange Commission (SEC), provided some welcome...more
6/25/2018
/ Bitcoin ,
Certificate of Deposit ,
Cryptocurrency ,
Digital Assets ,
Ether ,
Howey ,
Initial Coin Offering (ICOs) ,
Investment Advisers Act of 1940 ,
Investment Company Act of 1940 ,
Investment Contract ,
Investors ,
Securities Act of 1933 ,
Securities and Exchange Commission (SEC) ,
Securities Exchange Act ,
Token Sales
On Monday, April 2, 2018, the U.S. Securities and Exchange Commission (SEC) charged two co-founders of Centra Tech, Inc. (Centra), a purported financial services company headquartered in Florida, with conducting a fraudulent...more
In a recently published letter to the Senate Finance Committee, FinCEN confirmed that when an ICO token is a “convertible virtual currency,” administrators or exchangers of the token would be “money transmitters” under...more
3/14/2018
/ Anti-Money Laundering ,
Bank Secrecy Act ,
Cryptocurrency ,
Financial Institutions ,
FinCEN ,
Initial Coin Offering (ICOs) ,
Interpretive Letters ,
Money Services Business ,
Money Transmitter ,
Regulatory Requirements ,
Token Sales ,
Virtual Currency
On February 6, 2018, the United States Senate Committee on Banking, Housing and Urban Affairs conducted a hearing entitled “Virtual Currencies: The Oversight Role of the U.S. Securities and Exchange Commission and the U.S....more
2/7/2018
/ Bitcoin ,
CFTC ,
Department of Justice (DOJ) ,
Entrepreneurs ,
Financial Services Industry ,
FinTech ,
FSOC ,
Howey ,
Initial Coin Offering (ICOs) ,
IOSCO ,
Jurisdiction ,
New Guidance ,
Securities and Exchange Commission (SEC) ,
Virtual Currency