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Crypto Exchanges Securities Cryptocurrency

Cozen O'Connor

Oregon AG Sues Coinbase for Alleged Role in Crypto Scams

Cozen O'Connor on

Oregon AG Dan Rayfield has filed a lawsuit against cryptocurrency trading platform Coinbase, alleging that the company failed to protect consumers from unregistered and high-risk cryptocurrencies in violation of Oregon...more

Polsinelli

Blockchain+ Bi-Weekly; Highlights of the Last Two Weeks in Web3 Law: December 19, 2024

Polsinelli on

With Bitcoin hitting record highs and breaking a barrier long seen as aspirational, and with a new administration making key appointments, the year is ending with much excitement and momentum for the digital assets industry....more

Katten Muchin Rosenman LLP

Bitnomial Exchange Sues SEC, Challenging Agency's Authority Over XRP Futures

Bitnomial Exchange, LLC (Bitnomial), a designated contract market (DCM) registered with the Commodity Futures Trading Commission (CFTC), has launched a legal offensive against the US Securities and Exchange Commission (SEC),...more

Polsinelli

Assessing the Landscape: One Year into the SEC’s Litigation Against Major U.S. Digital Asset Exchanges

Polsinelli on

The SEC’s litigation against the largest digital asset exchanges in America has been unfolding for over a year, beginning with the agency suing various Binance entities in June 2023, followed by actions against Coinbase...more

Skadden, Arps, Slate, Meagher & Flom LLP

JPEX Is Test Case for Hong Kong’s New Regulatory Regime for Virtual Asset Exchanges

Hong Kong regulators recently brought criminal enforcement actions against virtual asset trading platform JPEX and individuals associated with the platform. This case has become the first opportunity for local authorities to...more

BakerHostetler

Crypto Custody Services Expand; CFTC Enforcement Targets DeFi, SEC Targets NFTs; FinCEN Warns of Crypto Scams; Major Hacks Steal...

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Financial Services Firms Expand Cryptocurrency Custody Services - According to recent reports, the cryptocurrency custody arm of a major international bank has launched its institutional cryptocurrency custody services in...more

A&O Shearman

DeFi protocol Uniswap and investors avoid suit for fraudulent activity on digital asset exchange

A&O Shearman on

On August 30, 2023, in a case of first impression, the U.S. District Court for the Southern District of New York dismissed in full a putative securities class action against Uniswap Labs, a decentralized finance (“DeFi”)...more

A&O Shearman

Southern District Of New York Dismisses Claims Against Cryptocurrency Platform Seeking To Hold It Liable Under The Securities Laws...

A&O Shearman on

On August 29, 2023, Judge Katherine Polk Failla of the United States District Court for the Southern District of New York dismissed with prejudice a putative class action against a decentralized cryptocurrency trading...more

Wilson Sonsini Goodrich & Rosati

Two New Rulings from the SDNY with Mixed Messages for Crypto: Potential Implications for Regulation of the Crypto Industry

A pair of recent rulings from the Southern District of New York (SDNY) have potentially increased confusion around the regulatory status of crypto asset regulation—but may also provide some interesting signs of what’s to...more

A&O Shearman

In Denying Motion To Dismiss In Terraform Cryptocurrency Case, New York Federal Judge Rejects Key Aspects Of Ripple  Ruling,...

A&O Shearman on

On July 31, 2023, United States District Court Judge for the Southern District of New York Judge Rakoff, denied cryptocurrency company Terraform Labs, Pte Ltd. (“Company”) and its founder’s motion to dismiss a suit that had...more

Proskauer - Corporate Defense and Disputes

The Crypto Wars Escalate

The gloves are off. The SEC’s recent enforcement actions against leading crypto exchanges suggest that the SEC has decided that time’s up for the crypto industry as it currently exists in the United States....more

ArentFox Schiff

SEC Crypto Crackdown Continues: Binance and Coinbase Charged with Violating Securities Laws

ArentFox Schiff on

Last week — in separate actions over the course of 48 hours — the US Securities and Exchange Commission (SEC) filed lawsuits against crypto asset platform operators Binance (including related entities and founder Changpeng...more

A&O Shearman

UK Financial Conduct Authority Publishes Final Rules on Cryptoasset Financial Promotions

A&O Shearman on

On June 8, 2023, the U.K. Financial Conduct Authority published its final Policy Statement setting out detailed rules for the U.K.'s cryptoasset financial promotions regime. The Policy Statement follows the publication on...more

Allen Matkins

SEC Files Desist & Refrain Order Against Coinbase Alleging Failure To Qualify Staking Rewards Program

Allen Matkins on

Yesterday, the California Department of Financial Protection & Innovation announced that it had issued a desist and refrain order against Coinbase, Inc. The order alleges that Coinbase's staking rewards program involved the...more

Bennett Jones LLP

Crypto-Asset Trading Platforms React to Increased Scrutiny and New Guidance from the Canadian Securities

Bennett Jones LLP on

On April 12, 2023, the Canadian Securities Administrators (CSA) announced that certain unregistered crypto-asset trading platforms (CTPs) operating in Canada had filed an enhanced pre-registration undertaking (PRU) with their...more

Kaufman & Canoles

Before Endorsing, Celebrities Should Know: Are Cryptocurrencies Securities?

Kaufman & Canoles on

Even before the collapse of Sam Bankman-Fried’s FTX empire, the Securities and Exchange Commission (SEC) was paying increasing attention to the market for cryptocurrencies. Back in June, the Chair of the SEC, Gary Gensler,...more

Sheppard Mullin Richter & Hampton LLP

NYAG Delivers on Promise to Rein In Unregistered Crypto Lending with New Suit

On September 26, 2022, New York Attorney General Letitia James (the “NYAG”) took definitive action in the wake of her warning last year that crypto lending platforms must register with her office or face legal action, filing...more

Eversheds Sutherland (US) LLP

SEC and CFTC continue efforts to regulate cryptocurrency

Two important events occurred in the cryptocurrency space last week. The Chairman of the US Commodity Futures Trading Commission (CFTC) gave a speech regarding regulators’ role in effectively supervising markets in the era...more

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