News & Analysis as of

Initial Coin Offering (ICOs)

New York attorney general launches fact-finding inquiry into trading platforms for virtual currencies

New York is the most recent to join the fray in state-led efforts to regulate the virtual currency markets. On April 17, 2018, New York Attorney General Eric T. Schneiderman announced the launch of the Virtual Markets...more

Crypto industry sweep: ICOs and token offerings under increasing scrutiny by US regulators

by DLA Piper on

Regulators are turning up the heat on companies looking to cash in on the cryptocurrency craze. Major media outlets recently reported that the US Securities Exchange Commission (SEC) has issued dozens of subpoenas and...more

Bridging the Weeks - April 2018 #3

Last week, a broker-dealer was fined US $1.575 million by the Financial Industry Regulatory Authority and other self-regulatory organizations for not complying with market access requirements for gatekeepers, while the...more

Your Daily Dose of Financial News

by Robins Kaplan LLP on

The SEC has opened a probe into Guggenheim Partners’ asset-management arm over an $85-million real-estate transaction and a series of other deals involving ABS Capital—including a loan to BCBG Max Azria just months before the...more

What is blockchain and how will it affect me?

The term “blockchain” is everywhere, and it is likely that you will interact with blockchain technology every day in the years to come. Blockchain technology recently came to the public’s attention thanks to rising prices...more

Wyoming Signs Cryptocurrency Bills Into Law

by Thompson Coburn LLP on

In March 2018, the state of Wyoming signaled its fervent support for the growth and development of blockchain and cryptocurrency by enacting into law a flurry of legislation intended to make the state a haven for certain...more

Developing Crypto’s Regulatory Landscape: A Survey of Recent Actions by Federal Regulators to Fence Off Jurisdiction Over Virtual...

In the decades that followed the enactment of the Homestead Act of 1862, more than 1.6 million U.S. citizens and intended citizens filed applications with the U.S. government to lay claim to 160 acres of land guaranteed to...more

Your Daily Dose of Financial News

by Robins Kaplan LLP on

More than 3 years after admitting to cheating on diesel emissions tests, Volkswagen appears poised to oust CEO Matthias Muller—likely in favor of former BMW exec Herbert Diess....more

Initial coin offerings: innovating in a changing market

by Allen & Overy LLP on

Allen & Overy was delighted to have the opportunity to lead a workshop on Initial Coin Offerings at the recent Innovate Finance Global Summit. We had such an engaged audience and covered so much ground that we wanted to share...more

Criminal And Civil Charges Filed In Connection With Initial Coin Offering By Centra Tech

by Shearman & Sterling LLP on

On April 2, 2018, the U.S. Department of Justice (“DOJ”) and Securities Exchange Commission (“SEC”) announced criminal and civil charges against two startup co-founders for allegedly defrauding and conspiring to defraud...more

Cryptocurrency 101

by Lathrop Gage on

If you do not currently own Bitcoin, the odds are in the last few months you have thought about the merits (or lack thereof) of owning Bitcoin. Bitcoin is a cryptocurrency, which is a digital or virtual currency (commonly...more

Regulatory Update and Recent SEC Enforcement Actions

by Blank Rome LLP on

REGULATORY UPDATES - U.S. Securities and Exchange Commission (“SEC”) Offers Responses to Frequently Asked Questions on New Liquidity Rule - On January 10, 2018, the Division of Investment Management issued responses to...more

Bridging the Weeks - April 2018 #2

Two broker-dealers’ purported failure to act on red flags – both involving customer trading – resulted in separate Securities and Exchange Commission enforcement actions against the firms. In connection with one action, two...more

A New Legislative Framework for ICOs in France

The regulatory focus on initial coin offerings (ICOs) has not diminished since our last client alert where we mentioned that the public consultation of the French Financial Markets Authority (AMF) proposed to develop an ad...more

Cryptocurrencies, Blockchain and Ponzi Schemes

by Michael Volkov on

When you read and learn about cryptocurrencies (e.g. Bitcoin, Ripple, Ethereum), there are some commentators, politicians and others who characterize cryptocurrencies as a “Ponzi” scheme....more

SEC Halts ICO Coin Offering Supposedly Tied to Visa, MasterCard

by Dorsey & Whitney LLP on

Cryptocurrencies have been a focus of SEC Enforcement in recent months. The Chairman and senior staff members have repeatedly cautioned investors regarding the risks of these instruments while extolling market professional...more

Investment Funds Update Europe - Legal and regulatory updates for the funds industry from the key asset management centres and...

by Dechert LLP on

ALFI Notes the Commission’s Plans to Amend the UCITS and AIFM Directives - ALFI issued a press release pointing out that they believe that a wider scope for the clarification of marketing and pre-marketing would have been...more

Your Daily Dose of Financial News

by Robins Kaplan LLP on

Spotify’s unconventional (non-IPO) public listing is off and running, and though it’s early, it sure feels as if the risk was a good one, with the market valuing the company north of $30 billion....more

SEC Continues to Take Action Against Alleged ICO Fraud

by Perkins Coie on

On Monday, April 2, 2018, the U.S. Securities and Exchange Commission (SEC) charged two co-founders of Centra Tech, Inc. (Centra), a purported financial services company headquartered in Florida, with conducting a fraudulent...more

Taxation of Virtual Currency Transactions

by Snell & Wilmer on

With the use of virtual currency on the rise, questions emerge as to how virtual currency transactions are taxed. The IRS has issued guidance regarding the tax consequences of such transactions, answering some questions but...more

Wyoming Enacts Comprehensive Blockchain Legislation

As numerous states propose and enact legislation focused on blockchain technology and cryptocurrencies, in 2018, no state has been more aggressive in this space than Wyoming. ...more

Investment Funds Update Europe - Legal and regulatory updates for the funds industry from the key asset management centres and...

by Dechert LLP on

BaFin Publishes Interpretative Notice Regarding the Qualification of Tokens and Cryptocurrencies Offered Through Initial Coin Offerings to Investors - BaFin published its new interpretative notice on 20 February regarding...more

The SEC Goes Mining: Launches Cryptocurrency Industry Sweep

After months of steadily increasing supervisory activity in regard to the emerging cryptocurrency sector, it now appears that U.S. financial market regulators may have switched gears and entered the enforcement stage....more

Corporate E-Note - March 2018

by Burr & Forman on

Alabama and South Dakota are the only two states that have not passed a data breach notification and reporting law. On March 1, Alabama got one step closer to not finishing dead last when the Alabama senate passed SB318 —...more

Investment Funds Update Europe - Legal and regulatory updates for the funds industry from the key asset management centres and...

by Dechert LLP on

AMF Public Consultation on ICOs - The AMF launched a public consultation on Initial Coin Offerings (ICOs) on 26 October 2017 in order to assess how these fundraisings could be regulated. Out of the three regulatory options...more

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Cybersecurity

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