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Digital Assets Securities Today's Popular Updates

Carey Olsen

GLI Cayman Islands blockchain and cryptocurrency regulation 2025, seventh edition

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Regulatory clarity in the digital assets and crypto space continues to be a moving target. Yet, the interest among policymakers and regulators worldwide has never been more pronounced. In the United States, 2024 was a pivotal...more

Sheppard Mullin Richter & Hampton LLP

NFTs and Securities Law Issues Are on the Rise – SEC Analysis Relies on Resale Royalties

Until fall 2023, there were few SEC enforcements or litigations involving securities issues with non-fungible tokens (“NFTs”). This has changed dramatically. In rapid succession last fall, the SEC undertook two enforcements...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

A&O Shearman

SEC Achieves Jury Verdict In Cryptocurrency Fraud Case

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On April 5, 2024, a jury in the Southern District of New York found cryptocurrency startup Terraform Labs PTE Ltd. (the “Company”) and its co-founder, Do Kwon, liable for securities fraud. The jury sided with the SEC in...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

Bank Launches Blockchain Network; Stablecoin Initiatives Launch in Foreign Markets; New Crypto Guidance Published; Reports Provide...

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U.S. Bank Launches Blockchain Network, Crypto Bank Gains Securities License - According to recent reports, the largest bank in the U.S. has gone live with its blockchain-based Tokenized Collateral Network (TCN) and...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

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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

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

Lowenstein Sandler LLP

Proposed Regulations Would Impose New Reporting Requirements on Transactions Involving Cryptocurrency and Other Digital Assets

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In response to a provision in the 2021 Infrastructure Investment and Jobs Act, the Department of the Treasury and the Internal Revenue Service (IRS) have issued proposed regulations that would impose new tax reporting...more

Barnea Jaffa Lande & Co.

Crypto as a Security – Applying the Howey Test

A US court recently handed down a landmark ruling addressing the question of whether the crypto token XRP falls under the definition of “security”. The US court ruled that the same crypto token may be classified differently...more

Holland & Knight LLP

SEC v. Ripple: When a Security Is Not a Security

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In a monumental decision that will likely have substantial ramifications for crypto industry developers, securities practitioners, and millions of investors and token purchasers alike, on July 13, 2023, the U.S. District...more

Latham & Watkins LLP

Illinois Considering Crypto Licensing

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A legislative initiative in Illinois would establish licensing and consumer protection requirements for digital asset businesses serving consumers in the state. On February 21, 2023, the Illinois Department of Financial...more

Skadden, Arps, Slate, Meagher & Flom LLP

NYAG Files Action Against Crypto Trading Platform, Takes Position That ETH Is a Security

On March 9, 2023, the New York State Attorney General’s Office (NYAG) filed a lawsuit charging crypto trading platform KuCoin for “failing to register as a securities and commodities broker-dealer and falsely representing...more

BakerHostetler

U.S. District Court Signals That In Certain Cases, NFTs May Qualify as Securities

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Dapper Labs was founded in 2018 shortly after the debut of its first NFT collection, “CryptoKitties,” which was so successful it created a bottleneck of transactions on the decentralized Ethereum Network. Seeking faster...more

Latham & Watkins LLP

SEC v. Ripple: Approaching Judgment Day

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While a conclusion to the much-hyped case may be approaching, market participants should be wary of doomsday prognostications. As a new year begins, the digital assets industry is still enduring a deep and widespread crypto...more

ArentFox Schiff

All Your Ether (Are) Belong To US: SEC Claims Jurisdiction Over Entire Ethereum (ETH) Network

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The US Securities and Exchange Commission (SEC) has filed an enforcement action against crypto influencer Ian Balina in the Western District of Texas alleging that he promoted unregistered securities in connection with the...more

Brownstein Hyatt Farber Schreck

NFTs: Gateway to Financial Independence or Litigation Risk?

NFTs—or “nonfungible tokens”—are everywhere. What was once seen as a collectors’ item for crypto geeks and LeBron James TopShop fanatics is now gaining popularity with a much wider audience. Take the recent example of the...more

A&O Shearman

Cryptocurrency Company Fined $100M In Novel Action Concerning Registration Obligations For Crypto Lending Product

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On Monday, February 14, 2022, the Securities and Exchange Commission (SEC) charged cryptocurrency lending company BlockFi Lending LLC (“BlockFi”) with failing to register the offers and sales of its retail crypto lending...more

Patterson Belknap Webb & Tyler LLP

A Brief Overview of the SEC’s Guidance on Cryptocurrencies in the Context of the Commission’s Enforcement Action Against Ripple...

A key question for any company considering the issuance of cryptocurrency is whether that digital asset will be treated by regulators as a security, like BP stock, or a commodity, like Bitcoin.  In 2019, the Securities and...more

Thomas Fox - Compliance Evangelist

Coffee & Regs - Digital Assets: Trading & Compliance for Cryptocurrency

In this episode, Director of Registered Investment Company Services, Allison Fraser, and Director of Broker-Dealer Services & Private Funds, John Gentile, discuss the latest on digital assets and cryptocurrency. Are they...more

Skadden, Arps, Slate, Meagher & Flom LLP

The Current State of Cryptocurrency Enforcement and Securities Litigation

On April 24, 2019, Skadden hosted a webinar titled “The Current State of Cryptocurrency Enforcement and Securities Litigation.” The presented topics largely focused on the SEC’s evolving regulatory approach to cryptocurrency...more

Nutter McClennen & Fish LLP

Fintech in Brief: SEC Staff Provides Additional Clarity on Digital Assets as Securities

Earlier this month, the Securities and Exchange Commission (“SEC”) provided additional guidance on digital assets, which include “tokens” and “coins.” The SEC’s Strategic Hub for Innovation and Financial Technology (“FinHub”)...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

King & Spalding

How Far We Haven't Come: The Revolution Will Not Be Securitized

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While SEC FinHub’s new framework announced last week for identifying crypto-securities suggests continued resistance for those using digital assets to access capital markets, an SEC no-action letter issued the same day to...more

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