US Regulatory Developments -
New York’s Financial Services Regulator Announces New Virtual Currency Initiatives -
It has been five years since the New York Department of Financial Services (the NYDFS) issued the...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
U.S. Legislation -
U.S. House Bill Seeks Classification of “Managed Stablecoins” as “Securities” -
Texas Representative Sylvia Garcia introduced legislation in the U.S. House of Representatives that would amend the...more
12/23/2019
/ Anti-Money Laundering ,
Bank Secrecy Act ,
Blockchain ,
CFTC ,
Cryptocurrency ,
Digital Assets ,
Ethereum ,
Investment Management ,
Securities Act of 1933 ,
Securities and Exchange Commission (SEC) ,
Securities Exchange Act ,
Token Sales
U.S. Regulatory -
Kik Files Answer to SEC Complaint -
On August 7, Canadian messaging company Kik Interactive Inc. (“Kik”) filed its answer to the U.S. Securities and Exchange Commission’s (“SEC”) complaint filed in the...more
8/20/2019
/ Bitcoin ,
Blockchain ,
Cease and Desist Orders ,
Cryptocurrency ,
Digital Assets ,
Distributed Ledger Technology (DLT) ,
FATF ,
Howey ,
NASAA ,
Popular ,
Securities and Exchange Commission (SEC) ,
Token Sales ,
Virtual Currency
U.S. Developments -
Regulatory Updates -
SEC Settles Enforcement Action with Gladius Network -
On February 20, 2019, the U.S. Securities and Exchange Commission (“SEC”) announced the settlement of charges against...more
3/5/2019
/ Blockchain ,
CFTC ,
Criminal Investigations ,
Digital Assets ,
Enforcement Actions ,
FBI ,
Popular ,
Real Estate Transactions ,
Registration Requirement ,
Securities and Exchange Commission (SEC) ,
Token Sales ,
Unregistered Securities ,
Virtual Currency
The Ethereum Classic blockchain was the victim of a 51% attack (often called a majority or Sybil attack) on January 5, 2019 that reorganized portions of the blockchain and allowed the attackers to double-spend 219,500 ETC...more
2/22/2019
/ ASIC ,
Bitcoin ,
Bitcoin Mining ,
Blockchain ,
CFTC ,
Commodity Exchange Act (CEA) ,
Computer Fraud and Abuse Act (CFAA) ,
Cryptocurrency ,
Cyber Attacks ,
Cybersecurity ,
Distributed Ledger Technology (DLT) ,
Ethereum ,
Popular ,
Private Right of Action ,
Virtual Currency
On October 11, 2018, the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) released an advisory (the Advisory) intended to help money services businesses (MSBs) and foreign financial institutions...more
U.S. Developments -
Regulatory Updates -
FinCEN Issues Advisory on Illicit Iranian Activities -
On October 11, 2018, the U.S. Treasury Department Financial Crimes Enforcement Network (“FinCEN”) issued an advisory to...more
10/18/2018
/ Blockchain ,
CFTC ,
Cryptocurrency ,
Financial Institutions ,
FinCEN ,
FinTech ,
Initial Coin Offering (ICOs) ,
Institutional Investors ,
Popular ,
Rule 506(c) ,
Securities and Exchange Commission (SEC) ,
Singapore ,
Token Sales ,
United Arab Emirates (UAE) ,
Venezuela ,
Virtual Currency
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