As the market for NFTs heats up, market participants should remain mindful of the regulatory implications of complex schemes.
As the current crypto boom has progressed, it seemed Decentralized Finance (DeFi) had cemented...more
3/15/2021
/ Blockchain ,
Cryptocurrency ,
Decentralized Finance (DeFi) ,
Digital Assets ,
Ethereum ,
Fine Art ,
FinTech ,
Insurance Industry ,
Market Participants ,
Marketing ,
Non-Fungible Tokens (NFTs) ,
Online Marketplace
In a year-end change of course, the SEC identified the minimum steps that broker-dealers must take when acting as custodians of digital asset securities. On December 23, 2020, the US Securities and Exchange Commission (SEC)...more
1/13/2021
/ Asset Tokens ,
Blockchain ,
Broker-Dealer ,
Custody ,
Digital Assets ,
Distributed Ledger Technology (DLT) ,
Enforcement ,
Financial Industry Regulatory Authority (FINRA) ,
Market Participants ,
New Guidance ,
Securities and Exchange Commission (SEC) ,
Securities Exchange Act ,
SIFMA ,
Virtual Currency
SEC Commissioner Peirce has proposed a three-year safe harbor for qualifying token projects, but regulatory clarity remains elusive.
SEC Commissioner Hester Peirce has been a perennial advocate of innovation in the...more
Recent SEC guidance on digital assets cleared a path for at least certain stable coins or payment tokens to avoid securities regulation. However, Latham & Watkins attorneys say there are still a number of open questions that...more
1/28/2020
/ Cryptoassets ,
Cryptocurrency ,
Digital Assets ,
FinTech ,
Howey ,
Market Participants ,
New Guidance ,
No-Action Letters ,
Regulatory Standards ,
Securities ,
Securities and Exchange Commission (SEC) ,
Token Sales
It was a year filled with tantalizing tidbits and many loose ends.
2019 marked the 10th year since blockchain technology was released into the wild by its still unknown inventor, Satoshi Nakamoto, who mined the first bitcoin...more
1/9/2020
/ Bitcoin ,
Blockchain ,
Chain of Custody ,
Cryptocurrency ,
Digital Assets ,
Distributed Ledger Technology (DLT) ,
Enforcement ,
Enforcement Actions ,
Financial Industry Regulatory Authority (FINRA) ,
Financial Transactions ,
Initial Coin Offering (ICOs) ,
No-Action Letters ,
Popular ,
Regulatory Agenda ,
Regulatory Standards ,
Securities Act of 1933 ,
Securities and Exchange Commission (SEC) ,
Securities Exchange Act ,
Securities Tokens ,
Token Sales ,
Unregistered Securities
In line with its previous guidance, FINRA has granted broker-dealer (but not custodian) status to a digital asset platform.
In a follow-up to the July 2019 SEC and FINRA joint staff statement (Joint Statement) clarifying...more
Recent SEC guidance on digital assets cleared a path for at least certain stable coins or payment tokens to avoid securities regulation. However, Latham & Watkins attorneys say there are still a number of open questions that...more
The regulators attempt to clarify their position on the possible custody of digital assets by broker-dealers, but questions remain.
The SEC and FINRA recently released a joint staff statement (Joint Statement) addressing...more