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Scrolling to the End SoluTech Sanctioned After Conducting Illegal Sale of Securities

Late last month, SoluTech, Inc. and Nathan Pitruzello consented to a cease-and-desist order with the U.S. Securities and Exchange Commission (“SEC”).  From April 2018 through March 2019, SoluTech, a technology start-up...more

Peircing the Decentralized Autonomous Organization Veil

U.S. Securities and Exchange (SEC) Commissioner Hester Peirce, referred to by some as “crypto mom” for her support for blockchain technology and cryptocurrency, was nominated on June 3, to serve a five-year term. Peirce is...more

Show Me the Money … all the Money - ICO Issuer Required to Return $25 Million to Investors

The SEC recently required BitClave to return over $25 million to investors which the company raised by selling its Consumer Activity Tokens (CAT) to over 9,000 investors in an initial coin offering (ICO). BitClave was also...more

BitBlog Bi-Weekly Update - May 2020

With the world slowly coming out of the COVID-19 lock down and the economy hopefully on the path to recovery there have been many developments in the blockchain / crypto space over the last few weeks....more

SEC Charges Dropil with Defrauding Investors in Unregistered ICO

The SEC recently filed suit against Dropil, Inc. (“Dropil”), Jeremy McAlpine, Zachary Matar, and Patrick O’Hara, alleging the defendants had defrauded investors in an unregistered offerings of securities described by the...more

An Ode to Joy- Congressional Research Service’s report on FinTech Innovation and Policy

On April 28, 2020, the Congressional Research Service (CRS) published an in depth report related to Fintech, titled Fintech: Overview of Innovative Financial Technology and Selected Policy Issues....more

Blockvest Receives “Terminating Sanctions” For Misconduct In SEC Lawsuit Over Illegal ICO

The SEC successfully landed another blow in its ongoing battle with Blockvest, LLC for alleged securities fraud and the sale of unregistered securities. ...more

BitBlog Bi-Weekly Update - April 2020

While the world at large shelters in place due to COVID-19 legal and regulatory activity of digital asset and the blockchain world is hopping. ...more

It’s the Fall That’s Gonna Kill You

Like Butch Cassidy and the Sundance Kid gloriously diving off a cliff, Telegram is about to take the fall and is trying to take the SEC with it.  However, Telegram and supporters are making a number of important arguments in...more

Hanging on the Telephone: Judge Enters Order Blocking Telegram ICO

Judge P. Kevin Castel of the Southern District of New York struck his gavel and hung up on Telegram’s contentious $1.7 billion initial coin offering (“ICO”).  Judge Castel ruled Telegram's planned distribution of Grams...more

New Crypto Lawsuits…just desserts for ICOs or legal obstacles to claims?

While most of the world was locked down, the preverbal shoe (litigation) finally dropped on Crypto companies that raised money through the sale of digital assets which are alleged to be illegal, unregistered securities...more

BitBlog Bi-Weekly Update - March 2020 #2

When we started thinking about this update, less than two weeks ago, the proposal by the U.S. Securities Exchange Commission (“SEC”) to liberalize Reg A and Reg CF (as discussed below) was the biggest news on our minds…. How...more

BitBlog Bi-Weekly Update - February 2020

Many crypto entrepreneurs are seeking to build decentralized networks in which a token serves as a means of exchange on, or provides access to a function of the network.  In the course of building out the network, they need...more

BitBlog Weekly Update

This BitBlog summary focuses on the continuing actions by the U.S. Securities and Exchange Commission (“SEC”) against the issuers of noncompliant initial coin offerings (“ICOs”) and other crypto related transactions including...more

BitBlog Weekly Update

The Polsinelli BitBlog Weekly Update begins with the U.S. Securities and Exchange (“SEC”) settlement with an issuer of securities, who managed to both illegally offer securities, and create an unlicensed exchange to trade...more

BitBlog Weekly Summary: Kik Kicks Back and the SEC continues its enforcement campaign against ICOs

Last week was a busy one for the SEC, and other crypto related litigation. That’s probably all we’re going to get while the battle between regulators and token issuers rages on, as Congress is not in session and many in the...more

Despite Big News and Some Regulatory Progress, Digital Assets Face Continued Skepticism and Legal Hurdles

As the summer continues to heat up so does the digital asset industry with two major developments. The Libra announcement last month represented a milestone in the cryptocurrency industry....more

FINRA, Following the SEC, Prioritizes Supervision of Digital Assets in 2019 “Priorities Letter”

On January 22, 2019 FINRA, the self-regulatory organization for U.S. broker-dealers, released its “Risk Monitoring and Examination Priorities Letter” for 2019. A number of of FINRA’s hot topics for 2019 should be of interest...more

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