Podcast: Is Cryptocurrency a Security (like an orange grove)?
The Staff noted that a stablecoin generally is not subject to SEC jurisdiction if it is not an investment and used solely for commercial activity....more
In 2020, the Securities ExchangeCommission (the “SEC”) filed a complaint against Ripple Labs, Inc. (“Ripple”)alleging that XRP, the native token of Ripple’s XRP Ledger, is a security, andthat Ripple’s sales of XRP constituted...more
In Short - The Situation: Recently, two judges in Southern District of New York were required to apply the Howey test in separate cases to decide whether sales of certain crypto assets were investment contracts, and thus...more
Specifically, the SEC wants a change to persuade the U.S. Court of Appeals for the Second Circuit – now, not later – of its view that Torres got it wrong when she determined that the company's offer and sale of its XRP token...more
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
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
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
In a headline-grabbing action, the Securities and Exchange Commission (“SEC”) announced on February 9 that it had instituted and settled an enforcement action against Kraken, a large crypto trading platform, in which it...more
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
The New Hampshire District Court recently granted summary judgment in favor of the Securities and Exchange Commission (SEC) in SEC v. LBRY, Inc., concluding that the native token of the blockchain protocol and network...more
Over the last five years, decentralized finance (DeFi), especially cryptocurrencies and other digital assets are a space that continues to grow at an exponential rate, not only for retail investors but also for private...more
The SEC issues second no-action letter for a digital token, but will “utility” token offerings reach the next level? Gamers, rejoice! In only its second no-action letter to date for digital tokens, the SEC cleared the way...more