News & Analysis as of

Alternative Trading System (ATS) Digital Assets

Goodwin

SEC’s ATS Re-proposal Doubles Down on DeFi and Digital Asset Regulation

Goodwin on

In April 2023, the SEC re-proposed amendments to Exchange Act Rule 3b-16 to expand the definition of what it means to be an exchange. When the SEC initially proposed these amendments in January 2022, there were zero direct...more

Morgan Lewis

SEC Proposes Changes to Regulation ATS for Communication Protocol Systems

Morgan Lewis on

The US Securities and Exchange Commission (SEC) has proposed a sweeping expansion in how it defines securities exchanges to capture digital asset platforms, request-for-quote platforms, indication-of-interest platforms (IOI),...more

Holland & Knight LLP

SEC to Keep Watchful Eye on Digital Asset Trading Platforms - Commission's Focus on Securities Exchange Laws, Reg ATS and Expanded...

Holland & Knight LLP on

In July 2017, the SEC issued its landmark DAO Report, which clarified, among other things, its view that digital tokens with characteristics akin to those of an "investment contract" as established in SEC v. W.J. Howey Co....more

Jones Day

SEC Proposes to Broadly Expand the Definition of an "Exchange" and Amend Regulation ATS

Jones Day on

The SEC's Proposal - On January 26, 2022, the SEC released a rulemaking proposal that, among other things, would expand the definition of "exchange" under Rule 3b-16 of the Exchange Act. ...more

Goodwin

tZERO ATS Settlement with SEC: Square Peg/Round Hole or Simple Failure to Follow Existing Rules?

Goodwin on

On January 10, 2022, tZERO’s ATS settled a matter with the SEC in which it agreed to an $800,000 fine. Given the size of the penalty and substantial attention on the SEC’s approach to regulating digital asset securities,...more

Jones Day

SEC's Division of Examinations Reiterates Focus on Digital Asset Securities

Jones Day on

On February 26, 2021, the SEC's Division of Examinations released a Risk Alert to make digital asset market participants aware of recurring issues that have arisen in the course of recent examinations, and provide notice of...more

Perkins Coie

Blockchain Week in Review - December 2020

Perkins Coie on

U.S. Developments - Legislation - Congress Members Introduce Stablecoin Legislation - On December 2, 2020, Congresswoman Rashida Tlaib (MI-13), Congressmen Jesús “Chuy” García (IL-04) and Chairman of Task Force on...more

Dechert LLP

SEC Staff Issues No-Action Letter Regarding Digital Asset Securities Trading on ATS Platforms

Dechert LLP on

The Staff of the Securities and Exchange Commission’s Division of Trading and Markets (Staff) issued a no-action letter to the Financial Industry Regulatory Authority on September 25, 2020 (Letter), in which the Staff stated...more

Latham & Watkins LLP

Settlement of Digital Asset Trading Just Got Easier

Latham & Watkins LLP on

SEC relief streamlines noncustodial settlement of digital asset trades, but broker-dealer custody is still off-limits. On September 25, 2020, the US Securities and Exchange Commission (SEC) issued a no-action letter (the...more

Polsinelli

Time to Do the Foxtrot (Three Step) SEC Establishes Improved Process for Settlement of Digital Asset Securities

Polsinelli on

The U.S. Securities and Exchange Commission (“SEC”) Division of Trading and Markets recently issued a no action letter to FINRA that may help to streamline the settlement of digital asset securities transactions by...more

Sullivan & Worcester

The SEC: IEOs are a pile of red flags

Sullivan & Worcester on

On January 14, 2020, the Securities and Exchange Commission (the "SEC") issued an investor alert urging investors to use caution before investing in initial exchange offerings ("IEOs"). In contrast with an Initial Coin...more

BCLP

Digital Asset Exchange Data Exposure Invites Consideration

BCLP on

On November 1, 2019, Digital Asset Exchange BitMEX announced that a substantial volume of its customers’ email addresses had been inadvertently leaked in email communications. While the precise nationalities and identities of...more

Polsinelli

FINRA and SEC Issue Joint Statement on Security Token and Custody Rules

Polsinelli on

On July 8, 2019, the staff of the U.S. Securities and Exchange Commission (“SEC”) Division of Trading and Markets and the staff of the Financial Industry Regulatory Authority (“FINRA”) issued a joint statement outlining...more

Proskauer - The Capital Commitment

SEC Extends Registration Requirements for Investment Companies and Broker Dealers to ICO/Crypto Firms

Fund managers take note – after over a year of warning, this month the SEC announced a pair of settlement orders with respect to registration requirements for a fund and broker dealer operating in the crypto and digital...more

Holland & Knight LLP

Understanding the Regulatory Concerns of Cryptocurrency Exchange Registration

Holland & Knight LLP on

• Coinbase, one of the largest cryptocurrency exchanges, recently approached the U.S. Securities and Exchange Commission (SEC) about possible licensing as a broker-dealer. If Coinbase decides to register with the SEC, it will...more

Dechert LLP

SEC Issues Statement on Potentially Unlawful Online Platforms for Trading Digital Assets

Dechert LLP on

The staff of the Divisions of Enforcement and Trading and Markets (collectively, Staff) of the U.S. Securities and Exchange Commission (SEC) on March 7, 2018 jointly issued a statement on digital asset trading platforms...more

White and Williams LLP

SEC Issues Guidance to Cryptocurrency Exchanges

White and Williams LLP on

On March 7, 2018, the US Securities and Exchange Commission (SEC) issued additional guidance with respect to digital assets trading platforms, affirming that platforms that offer trading of cryptocurrencies that are...more

Latham & Watkins LLP

SEC’s Recent BitFunder Charges and Statement on Digital Asset Trading Platforms - What They Mean to Crypto Market Participants

Latham & Watkins LLP on

Crypto asset trading platform operators should prepare to comply with securities regulations if the crypto assets traded are securities. Key Points: ..Finding that the digital assets traded on the BitFunder platform...more

18 Results
 / 
View per page
Page: of 1

"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