Cryptocurrency, a digital form of currency that uses cryptography for security, has become a significant part of the global financial landscape. As such, it has also become an important consideration in estate planning. This...more
2/14/2024
/ Bitcoin ,
Bitcoin Mining ,
Cloud Service Providers (CSPs) ,
Cryptocurrency ,
Cybersecurity ,
Estate Planning ,
Ethereum ,
Popular ,
Securities and Exchange Commission (SEC) ,
Tax Planning ,
Trusts
Starting July 1, 2025, any person or entity engaged in a “digital financial asset business activity” within California or with a California resident will be required to obtain a license from the California Department of...more
12/1/2023
/ Bitcoin ,
California ,
Cryptocurrency ,
Digital Assets ,
Disclosure Requirements ,
Enforcement ,
Ethereum ,
Money Transmission Act ,
New Legislation ,
SEC Examination Priorities ,
Securities and Exchange Commission (SEC) ,
Stablecoins
The U.S. Court of Appeals for the D.C. Circuit (the “Court”) issued a major ruling against the Securities and Exchange Commission (“SEC”) on August 29, 2023, holding that the SEC acted arbitrarily and capriciously when it...more
In a recent judgment the English High Court has again shown its ability to innovate so as to assist victims of crypto fraud. By imposing a constructive trust on a crypto exchange and permitting service of an order for summary...more
12/8/2022
/ Beneficial Owner ,
Bitcoin ,
Blockchain ,
Corporate Counsel ,
Crypto Exchanges ,
Cryptoassets ,
Cryptocurrency ,
Dispute Resolution ,
Fraud ,
Non-Fungible Tokens (NFTs) ,
Popular ,
Software ,
Summary Judgment ,
UK
Emerging technologies, such as bitcoin, blockchain and non-fungible tokens (“NFTs”), have led to the creation of massive alternative investment vehicles, additional portfolio diversification as well as expansion of the...more
8/11/2022
/ Artificial Intelligence ,
Bitcoin ,
Blockchain ,
Cryptocurrency ,
Digital Assets ,
Distributed Ledger Technology (DLT) ,
Emerging Technologies ,
Non-Fungible Tokens (NFTs) ,
Proposed Amendments ,
Regulatory Reform ,
Uniform Commercial Code (UCC) ,
Uniform Law Commission (ULC)
Key Takeaways -
According to sources with firsthand knowledge, the SEC is conducting an industry-wide inquiry into alleged insider trading activities of cryptocurrency exchanges.
Insider trading occurs when a corporate...more
7/6/2022
/ Bitcoin ,
Capital Markets ,
Cryptoassets ,
Cryptocurrency ,
Enforcement Actions ,
Enforcement Priorities ,
Financial Instruments ,
Financial Regulatory Agencies ,
Insider Trading ,
Investment Opportunities ,
Popular ,
Regulatory Oversight ,
Securities and Exchange Commission (SEC) ,
Trading Platforms ,
Virtual Currency
On Wednesday, March 9, President Biden issued an Executive Order entitled Ensuring Responsible Development of Digital Assets. The President’s order represents the first time that the White House has sought to develop a...more
4/5/2022
/ Biden Administration ,
Bitcoin ,
Blockchain ,
Central Bank Digital Currency (CBDCs) ,
Cryptocurrency ,
Digital Assets ,
Executive Orders ,
Financial Regulatory Reform ,
Financial Services Industry ,
Financial Transactions ,
Investment Contract ,
Investor Protection ,
Regulatory Agenda
The English High Court has granted a combination of powerful remedies including worldwide freezing orders in favour of a UK resident who fell victim to persons unknown operating a suspected cryptocurrency investment scam....more
3/10/2022
/ Bitcoin ,
Cryptocurrency ,
Digital Currency ,
Enforcement Actions ,
International Litigation ,
Investment Fraud ,
Investment Opportunities ,
Misappropriation ,
Popular ,
Scams ,
UK ,
Virtual Currency
Whether a cryptocurrency product is a security is an issue with serious regulatory consequences. In recent years, the Securities and Exchange Commission (“SEC”) has taken a broad position that various crypto assets are...more
11/19/2021
/ Bitcoin ,
Blockchain ,
Cryptocurrency ,
Digital Assets ,
Financial Instruments ,
Financial Markets ,
Howey ,
Investment Contract ,
Investment Opportunities ,
Popular ,
Regulatory Agenda ,
Regulatory Oversight ,
Securities and Exchange Commission (SEC) ,
Virtual Currency
As we recently noted in our OnPoint dated October 20, 2021, the rise in interest from retail and institutional investors in the cryptocurrency market has attracted increased regulatory and enforcement attention in the past...more
11/17/2021
/ Bitcoin ,
Capital Gains ,
Cryptocurrency ,
Digital Currency ,
Enforcement Priorities ,
Financial Transactions ,
Income Taxes ,
Internal Revenue Code (IRC) ,
Investment ,
IRS ,
Popular ,
Regulatory Requirements ,
Reporting Requirements ,
Tax Liability ,
Tax Planning ,
Tax Reform ,
Virtual Currency
Following its commitment within the report issued on 30 October 2018 by the UK’s Cryptoassets Taskforce1, on 23 January 2019 the FCA issued a Consultation Paper (“CP 19/3”)2 setting out draft regulatory guidance in respect of...more
2/13/2019
/ Bitcoin ,
Collective Investment Schemes ,
Cryptoassets ,
Debt Instruments ,
E-Money ,
Ether ,
Exchange Tokens ,
Financial Conduct Authority (FCA) ,
Financial Instruments ,
Investment Funds ,
MiFID II ,
New Guidance ,
Public Consultations ,
Regulatory Agenda ,
Securities Tokens ,
UK ,
Utility Tokens
For years, regulators around the world have struggled with whether and how to police the offering and exchange of digital assets (including virtual currencies such as Bitcoin). In the United States, such efforts were stymied...more
12/17/2018
/ Bitcoin ,
Blockchain ,
Blocked Person ,
CFTC ,
Compliance ,
Cryptocurrency ,
Digital Assets ,
Economic Sanctions ,
FinCEN ,
Initial Coin Offering (ICOs) ,
Office of Foreign Assets Control (OFAC) ,
Risk Assessment ,
SDN List ,
Securities and Exchange Commission (SEC) ,
Virtual Currency
With soaring cryptocurrency prices attracting significant new investment in late 2017, U.S. regulators sought to fill the statutory void by exercising jurisdiction over a variety of digital assets. That trend continued in the...more
6/28/2018
/ Bitcoin ,
Blockchain ,
CFTC ,
Commodities ,
Cryptocurrency ,
Digital Assets ,
Digital Currency ,
Enforcement Actions ,
Initial Coin Offering (ICOs) ,
Popular ,
Public Offerings ,
Regulatory Oversight ,
Securities ,
Securities Act of 1933 ,
Securities and Exchange Commission (SEC) ,
State Securities Regulators ,
Token Sales ,
Virtual Currency
The Director of the U.S. Securities and Exchange Commission (SEC) Division of Investment Management has outlined concerns of the SEC Staff (Staff) with respect to the registration of funds that hold cryptocurrencies and...more
1/29/2018
/ Arbitrage ,
Bitcoin ,
Cryptocurrency ,
Currency Manipulation ,
Custody ,
Division of Investment Management ,
ETFs ,
Investment Company Act of 1940 ,
Liquidity ,
Market Manipulation ,
Registration Statement ,
Securities and Exchange Commission (SEC) ,
Valuation
The Chicago Mercantile Exchange (CME) and the CBOE Futures Exchange (CFE) on December 1, 2017 self-certified contracts for bitcoin futures products with the U.S. Commodity Futures Trading Commission (CFTC). Additionally, on...more
12/20/2017
/ Bitcoin ,
Block Trades ,
CBOE Futures Exchange (CFE) ,
CFTC ,
Chicago Mercantile Exchange (CME) ,
Commodities ,
Commodities Traders ,
Commodity Futures Contracts ,
Commodity Trading Advisors (CTAs) ,
CPOs ,
Cryptocurrency ,
Exchange-Traded Products ,
NFA ,
Registered Investment Companies (RICs) ,
Securities and Exchange Commission (SEC) ,
Self-Certification ,
Virtual Currency