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Digital Assets Enforcement Actions Financial Industry Regulatory Authority (FINRA)

BakerHostetler

Weekly Blockchain Blog - September 2024 #2

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According to recent reports, two U.S. multinational financial technology companies have integrated Ethereum Name Service (ENS), a decentralized naming system built on the Ethereum blockchain, into their payment platforms....more

Faegre Drinker Biddle & Reath LLP

Crypto is Here to Stay in 2024, So Be Careful How You Talk About It

More than ever before, financial services regulators must increasingly adapt to technological advances. Perhaps no other technological advancement is more important right now than crypto currency. Crypto currency is defined...more

Akin Gump Strauss Hauer & Feld LLP

CryptoLink - August 2023 Updates

CryptoLink is a compilation of news stories published by outside organizations. Akin aggregates these stories, but the information contained in them does not necessarily represent the beliefs or opinions of the firm. Akin's...more

Morgan Lewis

Sec Seeks to Make Certain Hedge Funds, Digital Asset Traders, and Other Proprietary Traders Register as Broker dealers

Morgan Lewis on

On March 28, the Securities and Exchange Commission (SEC) proposed rules (Proposal) that would require certain market participants to register as broker-dealers or government securities dealers, and potentially be subject to...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

Perkins Coie

SEC Staff Provides Relief on the Role of ATSs in the Settlement of Digital Asset Security Trades

Perkins Coie on

The staff (“Staff”) of the Division of Trading and Markets of the U.S. Securities and Exchange Commission (SEC) issued a no-action letter (NAL) at the request of the Financial Industry Regulatory Authority (FINRA) on...more

Goodwin

Financial Services Weekly Roundup: The OCC’s True Lender Test Embraces A Simplified Solution

Goodwin on

In This Issue. The Office of the Comptroller of the Currency (OCC) proposed a rule that would establish that a national bank or federal savings association is the “true lender” of a loan if, as of the date of origination, the...more

Latham & Watkins LLP

2019 Digital Asset Regulatory Look Back (US Edition)

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It was a year filled with tantalizing tidbits and many loose ends. 2019 marked the 10th year since blockchain technology was released into the wild by its still unknown inventor, Satoshi Nakamoto, who mined the first bitcoin...more

BakerHostetler

Invoices Paid on Ethereum, FINRA Application Approved, SEC/ICO Enforcement, Industry Launches Compliance Initiative

BakerHostetler on

Smart Contracts Deployed by Icelandic Retailer, Blockchain for Sneakers and DHS - A press release issued this week announced the successful completion of an automated invoice payment using the Ethereum blockchain. ...more

Katten Muchin Rosenman LLP

Bridging The Week - August 2019 #2

Last week a Canada-based social media company answered charges filed against it by the Securities and Exchange Commission in June 2019 that alleged its 2017 initial sale of digital tokens constituted an unlawful securities...more

Dechert LLP

SEC Staff Releases Statement on Digital Asset Securities Issuance and Trading and Provides Guidance on Path Forward for Resolving...

Dechert LLP on

The U.S. Securities and Exchange Commission announced two settled enforcement actions on November 16, 2018, imposing registration requirements and civil penalties against issuers of initial coin offerings (ICOs) for failing...more

Perkins Coie

SEC and FINRA Target Cryptocurrency Hedge Fund Manager and Broker-Dealers in New Wave of Digital Asset Enforcement Proceedings

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In a flurry of enforcement activity in the digital asset space, the U.S. Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA), a self-regulatory organization for broker-dealers,...more

A&O Shearman

US Agencies Issue Multiple Digital Asset-Related Enforcement Orders

A&O Shearman on

The Securities and Exchange Commission and the Financial Industry Regulatory Authority have issued three digital asset-related enforcement orders, and the SEC also suspended trading in two securities that track the value of...more

McDermott Will & Emery

Enforcing the Regulatory Landscape for Virtual Currencies: Recent Developments

McDermott Will & Emery on

US regulators have stepped up their activity in terms of enforcing the regulation of virtual currencies and on September 11, 2018, issued four relevant decisions: FINRA’s first disciplinary action involving cryptocurrencies;...more

Sheppard Mullin Richter & Hampton LLP

Recent Development in Regulatory Enforcement of Digital Securities

In a flurry of activity and confluence of developments, the SEC, FINRA and a Brooklyn federal judge have commenced actions and made rulings that continue to define the regulatory framework and obligations surrounding the sale...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

Vedder Price

Investment Services Regulatory Update - August 2018

Vedder Price on

New Rules, Proposed Rules, Guidance and Alerts – SEC STAFF GUIDANCE AND ALERTS – OCIE Publishes Risk Alert on Compliance Issues Relating to Best Execution – On July 11, 2018, the Office of Compliance Inspections and...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

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