News & Analysis as of

Blockchain Settlement

Patterson Belknap Webb & Tyler LLP

DraftKings NFT Settlement Leaves Securities Question in Limbo

A class action lawsuit brought against online gaming company DraftKings Inc. relating to the company’s short-lived marketplace for non-fungible tokens, or NFTs, is likely to settle. Because the case will not proceed to a...more

Ropes & Gray LLP

Crypto Quarterly Digital Assets, Blockchain and Related Technologies Update

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The landscape of government enforcement, private litigation and federal and state regulation of digital assets, blockchain and related technologies is constantly evolving. Each quarter, Ropes & Gray attorneys analyze...more

Seward & Kissel LLP

Taxing Solution, Settlement Smack Down, Involuntary Reaction, and Regulatory Risk

Seward & Kissel LLP on

Endo creditors seek to resolve U.S. government claims for $465 mln| Reuters - According to court documents filed last week, Endo and a group of the company’s lenders are offering up to $465 million to settle U.S. government...more

K2 Integrity

Crypto in a Time of Uncertainty

K2 Integrity on

On 07 June 2023, K2 Integrity hosted a webinar on the state of cryptocurrency and digital assets in a rapidly evolving regulatory landscape. A discussion was held with Bryan Stirewalt, senior managing director at K2...more

Foley & Lardner LLP

Kraken Settles SEC Charge That Its SAAS Model Was an Illegal Securities Offering

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On February 9, 2023, the SEC announced that Kraken had settled charges alleging that it violated securities laws by failing to register the offer and sale of its “crypto asset staking-as-a-service program.” To settle the...more

Oberheiden P.C.

How Blockchain Impacts the Legal Profession

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Below is an excerpt from Nick Oberheiden's latest book, "The Law of Tomorrow: Bitcoin, Tokens, Blockchain - An Introduction for Lawyers" Blockchain is the next technology that lawyers shouldn’t ignore. Mainstream acceptance...more

UB Greensfelder LLP

The SEC’s Krackdown On Staking-As-A-Service

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Over the years, this blog has not shied away from calling out FINRA or the SEC for regulating via enforcement actions rather than providing formal guidance. Well, the SEC did it again last Thursday with a complaint filed...more

Shipkevich PLLC

Kraken Agrees to Settlement with SEC Including $30 Million Penalty

Shipkevich PLLC on

As of February 9, 2023, the Securities and Exchange Commission (SEC) has accused Payward Ventures, Inc. and Payward Trading Ltd, better known as Kraken, of failing to register the sale of their cryptocurrency...more

Perkins Coie

CFTC Crypto Charges & Settlements Timeline - October 2022 Update

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The Commodity Futures Trading Commission (CFTC) Settlements Timeline serves as an interactive compilation of select CFTC guidance, enforcement actions, and speeches relating to the application of the federal securities laws...more

Proskauer - Corporate Defense and Disputes

Blockchain Meets Morrison: Court Rejects Blockchain Class Settlement Because of Concerns About Adequacy of Representation

The U.S. District Court for the Southern District of New York recently rejected a proposed settlement of a securities class action involving purchasers of digital tokens due to concerns about whether the lead plaintiff had...more

ArentFox Schiff

US and International Regulators Take Aim at Stablecoin Issuers

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Regulatory Guidance Aims to Apply Banking Regulations to Stablecoin Issuers - On November 1, 2021, an interagency group consisting of the President’s Working Group on Financial Markets (PWG), the FDIC, and the Office of the...more

Perkins Coie

Fintech Legal Report - August 2021

Perkins Coie on

Senators Inquire about CFPB’s Fintech Agenda - On July 27, 2021, Senator Sherrod Brown, the Chairman of the U.S. Senate Committee on Banking, Housing, and Urban Affairs, sent a letter to the Consumer Financial Protection...more

Goodwin

SEC Settles First-Of-Its-Kind $13m DeFi Tech Action

Goodwin on

SEC Settles First-Of-Its-Kind $13m DeFi Tech Action; NASDAQ Board Diversity Rules Challenged in Fifth Circuit; Delaware Court of Chancery Declines to Enforce Contractual Limitations on Liability to Bar Contractual Fraud...more

Pillsbury - Global Trade & Sanctions Law

BitPay Inc. Enforcement Action Highlights Sanctions Compliance Risks for Virtual Currency Service Providers

On February 18, 2021, the U.S. Treasury Department’s Office of Foreign Assets Control (OFAC) entered into a settlement of $507,375 with BitPay, Inc. (BitPay) for violations of multiple U.S. sanctions programs. According to...more

Spilman Thomas & Battle, PLLC

Decoded: Technology Law Insights - Issue 8, October 2020

Attorney General William P. Barr Announces Publication of Cryptocurrency Enforcement Framework - "The Framework provides a comprehensive overview of the emerging threats and enforcement challenges associated with the...more

Spilman Thomas & Battle, PLLC

All Consuming - Financial Litigation Insights: Issue 6, September 2020

Morrisey, Other AGs Reach $330 Million Agreement with Student Loan Company - "West Virginia Attorney General Patrick Morrisey and 47 other attorneys general have reached a $330 million, multistate agreement with a student...more

Goodwin

SEC Commissioner Peirce Not Skating Around Her Views on Telegram Settlement

Goodwin on

Never one to hold back, especially when it comes to crypto and blockchain matters, SEC Commissioner Peirce recently explained her views on the SEC’s settlement with Telegram and the agency’s approach to regulating the crypto...more

ArentFox Schiff

Investigations Newsletter: Contractors to Pay Over $2.8 Million to Settle Small Business Contract Fraud Allegations

ArentFox Schiff on

Contractors to Pay Over $2.8 Million to Settle Small Business Contract Fraud Allegations - On June 2, 2020, the Department of Justice announced that Ross Group Construction Corporation and its affiliates agreed to pay...more

Skadden, Arps, Slate, Meagher & Flom LLP

Privacy & Cybersecurity Update - August 2019

In this month's edition of our Privacy & Cybersecurity Update, we examine the European Parliament's report on whether and how the use of blockchain technology can comply with the General Data Protection Regulation, as well as...more

Skadden, Arps, Slate, Meagher & Flom LLP

The Distributed Ledger: Blockchain, Digital Assets and Smart Contracts - April 2019

In this issue, we examine the release of the much-anticipated Strategic Hub for Innovation and Financial Technology (FinHub) guidance for analyzing how U.S. federal securities laws apply to initial coin offerings, the...more

Foster Garvey PC

OTA & Travel Distribution Update: New platforms brought to regulators' attention; Google Assistant Interpreter Mode gets a test...

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Voice-assisted devices (a/k/a smart speakers) feature prominently in this week’s Update. Enjoy....more

Goodwin

SEC Reaches First Settlement in connection with an Unregistered Crypto Exchange

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On November 8, 2018, the U.S. Securities and Exchange Commission (“SEC”) announced that it settled charges against Zachary Coburn, the founder of blockchain token trading platform EtherDelta, over operating an unregistered...more

Robinson & Cole LLP

Data Privacy + Cybersecurity Insider - September 2018 #4

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The State of California is once again leading the way with trying to keep up with technology and protecting consumers. Senate Bill 327 requires Internet of Things (IoT) developers to implement “reasonable security features”...more

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