Latest Publications

Share:

Securing the Weakest Link U.S. Government’s Cryptocurrency Tracing Capacity on Full Display in Civil Forfeiture Action

The U.S. Department of Justice (“DOJ”) filed a civil forfeiture complaint detailing two hacks of virtual currency exchanges by North Korean actors.  These actors stole millions of dollars’ worth of cryptocurrency or other...more

ASIC Bans Former BitConnect Front-man

John Louis Anthony Bigatton will not be providing financial services in Australia and likely not anywhere else, anytime soon. On Thursday, September 3, 2020, the Australian Securities and Investments Commission (“ASIC”)...more

Charles Ponzi Fans Abound - SEC Charges Maryland Cyrptocurrency Ponzi Scheme

The U.S. Securities and Exchange Commission (SEC) recently charged two Maryland companies and their executives in a scheme that allegedly defrauded approximately 1,200 investors of more than $27 million.  ...more

Six Feet Away – SEC OCIE Announces Risk Considerations Pertaining to COVID-19

On August 12, the SEC’s Office of Compliance Inspections and Examinations released a Risk Alert regarding new operational, technological, commercial and other challenges and issues for investment advisers and broker-dealers...more

No S-Corp for You? – New Proposed Carried Interest Regulations that May Affect Crypto Fund Managers

Historically, the ability for investment fund managers to take profits in the form of carried interest has allowed those managers to pay the lower long-term capital gains tax rate (compared to income) so long as the...more

Court Provides Additional Guidance On When Notes Are Not Securities - The Kirschner Case

The loan market breathed an immense sigh of relief this spring with the ruling in Kirschner v. JPMorgan Chase Bank, N.A. 1 (“Kirschner”) affirming the prevailing market view that notes representing syndicated loans are not...more

Court Provides Additional Guidance On When Notes Are Not Securities

The loan market breathed an immense sigh of relief this spring with the ruling in Kirschner v. JPMorgan Chase Bank, N.A. (“Kirschner”) affirming the prevailing market view that notes representing syndicated loans are not...more

No Extension for You - June 30 Compliance Date for Regulation Best Interest Confirmed by SEC

On June 15, Jay Clayton, the Chairman of the U.S. Securities and Exchange Commission (“SEC”) re-confirmed there will be no delay in the compliance date for Regulation Best Interest and Form CRS. In the statement, Chairman...more

The Accountant II - PCAOB Shoots Straight on Crypto Audits

The Public Company Accounting Oversight Board (PCAOB) recently published guidance for auditors on the accounting treatment of cryptoassets, including Bitcoin. The PCAOB guidance highlights considerations for addressing...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

Welcome to Fight Club - New Securities Exchange Approved by SEC

“Welcome to Fight Club.” Like the fighters in Fight Club, the Members Exchange (MEMX), a new fighter has entered the ring of nationally recognized securities exchanges fighting for volume. MEMX is a new exchange registered...more

CFTC Gives Fraudulent Trading Platform The Fingerhut

The CFTC recently filed a multi-million dollar fraud action charging three individuals and three companies with fraudulently soliciting tens of millions of customers and prospective customers to open and fund off-exchange...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

117 Results
 / 
View per page
Page: of 5

"My best business intelligence, in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:
*By using the service, you signify your acceptance of JD Supra's Privacy Policy.
- hide
- hide