The U.S. Securities and Exchange Commission (the SEC or the Commission) voted on Friday, April 14, 2023, to reopen the comment period for previously proposed amendments to Rule 3b-16 under the Exchange Act of 1934 (the...more
5/17/2023
/ Broker-Dealer ,
Comment Period ,
Cryptocurrency ,
Decentralized Finance (DeFi) ,
Digital Assets ,
Proposed Amendments ,
Regulatory Reform ,
Securities and Exchange Commission (SEC) ,
Securities Exchange Act of 1934 ,
Securities Regulation ,
Sellers ,
Trading Platforms
U.S. Developments -
Federal and State Regulatory Developments -
U.S. Department of Homeland Security Issues Challenge for Development of Trusted User Interface for Digital Wallets -
The U.S. Department of Homeland Security...more
9/23/2020
/ Bahamas ,
Blockchain ,
Central Bank Digital Currency (CBDCs) ,
CFTC ,
Cryptoassets ,
Cryptocurrency ,
CSBS ,
Department of Homeland Security (DHS) ,
Digital Wallets ,
Distributed Ledger Technology (DLT) ,
EU ,
FinCEN ,
Gibraltar ,
India ,
Money Laundering ,
New Zealand ,
Nigeria ,
No-Action Relief ,
Popular ,
Reinstatement ,
Securities and Exchange Commission (SEC) ,
Security Token Offering (STOs) ,
SEFs ,
Terrorism Funding ,
Virtual Goods
U.S. Developments -
Federal and State Regulatory Developments -
Bill in Hawaii State Senate Addresses Digital Assets Including Authorization for Banks to Serve as Qualified Custodians -
SB 2594 before the Hawaii...more
1/29/2020
/ Amicus Briefs ,
Anti-Fraud Provisions ,
Bitcoin ,
Blockchain ,
Cryptocurrency ,
Digital Assets ,
Digital Currency ,
Distributed Ledger Technology (DLT) ,
Financial Institutions ,
FinTech ,
International Tax Issues ,
Japan ,
Securities Act of 1933 ,
Securities and Exchange Commission (SEC) ,
Securities Exchange Act ,
Uniform Commercial Code (UCC) ,
Unregistered Securities ,
Virtual Currency
U.S. Developments -
U.S. Federal Regulatory Developments -
SEC Staff Holds FinTech Forum to Discuss Blockchain Technology and Digital Assets -
On May 31, 2019, the staff of the U.S. Securities and Exchange Commission...more
6/7/2019
/ Blockchain ,
Cryptocurrency ,
Distributed Ledger Technology (DLT) ,
FinTech ,
Initial Coin Offering (ICOs) ,
Popular ,
Registration Requirement ,
Regulatory Agenda ,
Securities and Exchange Commission (SEC) ,
State Attorneys General ,
Token Sales ,
Utility Tokens ,
Virtual Currency
On Wednesday, December 12, 2018, the D.C. Bar hosted a panel to discuss current developments in the world of crypto. Among the panelists were two senior SEC officers: Jonathan Ingram, Deputy Chief Counsel, Division of...more
1/14/2019
/ CFTC ,
Corporate Issuers ,
Cryptocurrency ,
Digital Assets ,
Division of Corporate Finance ,
Enforcement Actions ,
Securities Act of 1933 ,
Securities and Exchange Commission (SEC) ,
Securities Exchange Act ,
Self-Reporting ,
Token Sales
U.S. Developments -
Congressmen Introduce Legislation to Define “Digital Token” Under the Securities Laws -
On December 20, 2018, two congressmen introduced the “Token Taxonomy Act” (H.R. 7356) before the 115th Congress...more
1/8/2019
/ Anti-Money Laundering ,
Blockchain ,
Consumer Financial Protection Bureau (CFPB) ,
Cryptocurrency ,
Economic Growth Regulatory Relief and Consumer Protection Act ,
FDIC ,
Financial Regulatory Agencies ,
Hong Kong ,
Initial Coin Offering (ICOs) ,
Initial Public Offering (IPO) ,
No-Action Letters ,
Popular ,
Securities and Exchange Commission (SEC) ,
South Korea ,
Supply Chain ,
Token Sales ,
UCLA ,
UK ,
United Arab Emirates (UAE)
U.S. Developments -
Federal Bank Regulators Issue Joint Statement on Collaborative BSA/AML Compliance -
On October 3, 2018, a group of federal bank regulators and the Financial Crimes Enforcement Network (“FinCEN”)...more
10/9/2018
/ Anti-Money Laundering ,
ASIC ,
Bank Secrecy Act ,
Blockchain ,
CFTC ,
Commodity Exchange Act (CEA) ,
Cryptocurrency ,
Financial Industry Regulatory Authority (FINRA) ,
FinCEN ,
Initial Coin Offering (ICOs) ,
Popular ,
Securities and Exchange Commission (SEC) ,
South Korea ,
Token Sales ,
Virtual Currency
In a flurry of enforcement activity in the digital asset space, the U.S. Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA), a self-regulatory organization for broker-dealers,...more
10/8/2018
/ Blockchain ,
Broker-Dealer ,
Cryptocurrency ,
Digital Assets ,
Enforcement Actions ,
Financial Industry Regulatory Authority (FINRA) ,
Initial Coin Offering (ICOs) ,
Investment Adviser ,
Investment Companies ,
Investment Company Act of 1940 ,
Popular ,
Regulation D ,
Securities and Exchange Commission (SEC) ,
Token Sales ,
Unregistered Securities
Ohio Enacts Cybersecurity Law with addition of Blockchain to Ohio’s Uniform Electronic Transactions Act -
On August 7, 2018 Ohio Governor John Kasich signed SB 220, which adds “blockchain technology” to the definition of...more
8/14/2018
/ Bitcoin ,
Blockchain ,
Cryptocurrency ,
Extraterritoriality Rules ,
Germany ,
Governor Kasich ,
Initial Coin Offering (ICOs) ,
Japan ,
Legislative Agendas ,
New Legislation ,
Personal Jurisdiction ,
Philippines ,
Popular ,
Pump and Dump ,
Securities and Exchange Commission (SEC) ,
Thailand ,
Token Sales ,
UK
The following update is on our Fintech Legal Report:
FINRA Issues a Regulatory Notice for Firms to Let FINRA Know About Digital Asset Activities -
U.S. Developments -
Regulatory Updates -
Vermont Enacts...more
7/16/2018
/ Bitcoin ,
Blockchain ,
Cryptocurrency ,
Dear Colleague Letter ,
Department of Justice (DOJ) ,
Digital Assets ,
Financial Conduct Authority (FCA) ,
Financial Industry Regulatory Authority (FINRA) ,
FinTech ,
Governor Scott ,
India ,
Initial Coin Offering (ICOs) ,
Limited Liability Company (LLC) ,
Securities and Exchange Commission (SEC) ,
Token Sales ,
UK ,
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