On July 22, 2020, the Office of the Comptroller of the Currency (“OCC”) published an Interpretive Letter (the “Letter”) declaring that national banks and federal savings associations (collectively, “national banks”) may...more
7/27/2020
/ Blockchain ,
Cryptoassets ,
Cryptocurrency ,
Financial Industry Regulatory Authority (FINRA) ,
Financial Institutions ,
Financial Services Industry ,
International Banks ,
OCC ,
Recordkeeping Requirements ,
Securities and Exchange Commission (SEC) ,
Securities Regulation
On February 6, 2020, SEC Commissioner Hester Peirce presented her proposal of a new regulatory scheme for legal ICOs in the United States (“Safe Harbor”). To date, token issuers have struggled with the U.S. Securities and...more
2/10/2020
/ Anti-Fraud Provisions ,
Blockchain ,
Digital Assets ,
Grace Period ,
Howey ,
Initial Coin Offering (ICOs) ,
Investment Contract ,
New Regulations ,
Safe Harbors ,
Securities and Exchange Commission (SEC) ,
Token Sales
On December 11, 2019, the New York State Department of Financial Services ("DFS") issued two proposed changes to the regime that is in place in New York for the regulation and licensing of virtual currency ("VC") businesses....more
12/13/2019
/ Anti-Money Laundering ,
Bitcoin ,
BitLicense ,
Blockchain ,
Comment Period ,
Cryptocurrency ,
Licensing Rules ,
NYDFS ,
Proposed Amendments ,
Proposed Regulation ,
Virtual Currency
It is official. Finally. On October 10, 2019, the Commodity Futures Trading Commission (“CFTC”) Chairman Heath Tarbert announced that he believes ether is a commodity and thus falls under the jurisdiction of the CFTC....more
10/11/2019
/ Blockchain ,
CFTC ,
Commodities ,
Cryptocurrency ,
Derivatives ,
Digital Assets ,
Distributed Ledger Technology (DLT) ,
Ether ,
Howey ,
Initial Coin Offering (ICOs) ,
Investment Contract ,
Investors ,
Securities and Exchange Commission (SEC) ,
Token Sales ,
Trading Platforms
SEC Halts ICO After Finding that Tokens are Securities -
Remember in July of this year when the Securities and Exchange Commission (SEC) said in its Decentralized Autonomous Organization (DAO) Report that "U.S. federal...more