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Digital Assets Digital Currency Unregistered Securities

Mayer Brown Free Writings + Perspectives

Defining Digital Asset Securities: US District Court Issues Summary Judgment Rulings in SEC v. Ripple Labs

For the past several years, many have viewed “SEC v. Ripple” as one of the defining conflicts in the US crypto regulatory landscape. At the heart of this dispute is the question of whether digital tokens are “securities” for...more

Polsinelli

SEC Hints at Path for Digital Assets to Morph Into Non-Securities

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On August 9, 2022, the U.S. Securities and Exchange Commission (“SEC”) issued a Cease and Desist Order against Bloom Protocol, LLC (“Bloom”) and agreed to a related Offer of Settlement in respect of Bloom’s unregistered...more

BakerHostetler

[Podcast] Blockchain University: Relationship Drama: Cryptocurrencies, Blockchain and the Law

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Our fifth episode provides an overview of the key legal issues facing cryptocurrencies and blockchain in the U.S....more

Proskauer - Blockchain and the Law

SEC Brings Charges against Individuals Behind Allegedly Fraudulent Unregistered Digital Asset Securities Offering

On February 1, 2021, the U.S. Securities and Exchange Commission (SEC) announced that it had brought charges against several individuals involved in an alleged scheme to induce investors to transfer more than $11 million to...more

The Volkov Law Group

SEC Launches Enforcement Action Against Cryptocurrency Company Ripple

The Volkov Law Group on

In December 2020, three days before Christmas, the SEC filed a significant case against Ripple, the major cryptocurrency company. Ripple is a major cryptocurrency company, utilizing the technology to create a global digital...more

Polsinelli

Scrolling to the End SoluTech Sanctioned After Conducting Illegal Sale of Securities

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Late last month, SoluTech, Inc. and Nathan Pitruzello consented to a cease-and-desist order with the U.S. Securities and Exchange Commission (“SEC”).  From April 2018 through March 2019, SoluTech, a technology start-up...more

Polsinelli

Wolf in Sheep’s Clothing: Bitclub Network Promoter Admits to Securities Fraud and Tax Offenses

Polsinelli on

Joseph Frank Abel recently pled guilty to conspiring to offer and sell unregistered securities and to filing a false tax return in connection with his role in the BitClub Network, a cryptocurrency mining scheme worth at least...more

Polsinelli

BitBlog Bi-Weekly Update - May 2020

Polsinelli on

With the world slowly coming out of the COVID-19 lock down and the economy hopefully on the path to recovery there have been many developments in the blockchain / crypto space over the last few weeks....more

Perkins Coie

Blockchain Week in Review - January 2020 #3

Perkins Coie on

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

Polsinelli

Wind of Change - The Year FinTech Came in From the Cold - Polsinelli BitBlog: Year End Edition

Polsinelli on

Digital assets and Blockchain technologies which were once described as the tools of criminals, are now a key part of efforts by traditional financial services firms to transform their businesses and innovative firms looking...more

Farrell Fritz, P.C.

Telegram TRO Sends Strong Message to Digital Token Issuers

Farrell Fritz, P.C. on

On October 11, 2019, the Securities and Exchange Commission (the “Commission”) announced it filed a complaint and obtained a temporary restraining order against Telegram Group Inc. and its wholly-owned subsidiary TON Issuer...more

Farrell Fritz, P.C.

First Federal Ruling Against SEC on Whether Digital Token is a Security

Farrell Fritz, P.C. on

On November 27, 2018, the United States District Court for the Southern District of California denied the Securities and Exchange Commission’s motion for a preliminary injunction to block an initial coin offering, finding the...more

Stinson - Corporate & Securities Law Blog

Court Refuses to Issue Preliminary Injunction to Halt Initial Coin Offering

In SEC v. Blockvest, LLC, the United States District Court for the Southern District of California examined the SEC’s argument for a preliminary injunction halting an initial coin offering, or ICO....more

Kramer Levin Naftalis & Frankel LLP

Unregistered Crypto Exchange Fined by SEC

In a sign of continued enforcement activity involving cryptocurrency products and services, the SEC fined Zachary Coburn, the founder of EtherDelta, for operating an unregistered national securities exchange....more

Sheppard Mullin Richter & Hampton LLP

Smart Contract Developers – Beware and Lawyer Up!

Smart contracts, also referred to as chaincode in the Hyperledger world, are one of the most powerful aspects of blockchain and Distributed Ledger Technology (DLT). This “self-executing” code can receive various inputs and,...more

Kramer Levin Naftalis & Frankel LLP

France Set to Enact the First Regulatory Framework for Crypto-asset Intermediaries

After allowing registration and transfer of unlisted securities through distributed ledgers in 2017 and drafting legislation for initial coin offerings (ICOs) earlier this year, France is contemplating the introduction of a...more

Kramer Levin Naftalis & Frankel LLP

SEC Takes Its Initial Aim at Crypto Funds

In a regulatory first, the Securities and Exchange Commission (SEC) has issued a cease and desist order and imposed a $200,000 fine against a hedge fund that invested in digital assets and its founder. ...more

Fenwick & West LLP

Takeaways from SEC’s First Ever Enforcement Actions Against Cryptocurrency Firms for Failing to Register as a Broker-Dealer and...

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Over the past year, the U.S. Securities and Exchange Commission has ramped up its scrutiny of cryptocurrencies and other digital token offerings. On Sept. 11, 2018, the SEC escalated its crackdown when it announced a pair of...more

Robins Kaplan LLP

Your Daily Dose of Financial News

Robins Kaplan LLP on

The SEC has taken its first enforcement action against a hedge fund over its cryptocurrency investments—namely, falsely holding itself out as the “first regulated fund in the U.S. focused on crypto assets.” It also targeted a...more

Latham & Watkins LLP

A Path Forward for Consumer Tokens?

Latham & Watkins LLP on

SEC’s Hinman provides helpful guidance for analyzing digital assets under the US securities laws. William Hinman, Director of the US Securities and Exchange Commission (SEC) Division of Corporation Finance, provided...more

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