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Investment Opportunities Digital Assets

Polsinelli

Blockchain+ Bi-Weekly - May 2024

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Big news dropped in the past few weeks, which sent shockwaves across the industry: according to a recently filed lawsuit, the SEC has classified the second largest cryptocurrency, Ether, as a security in certain ongoing...more

Polsinelli

Blockchain+ Bi-Weekly - April 2024 #2

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The focus in Web3 law the past few weeks has been on jurisdictional issues when litigating matters involving borderless digital asset transactions. This is expected to be an ongoing issue, as courts work through these...more

Polsinelli

Blockchain+ Bi-Weekly - February 2024

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The Blockchain Bi-Weekly presented by the Polsinelli Blockchain+ team is a rundown of some of the key stories in the Web3, blockchain and crypto ecosystems curated by our attorneys navigating the intersections of code, smart...more

Cadwalader, Wickersham & Taft LLP

ABA Tax Section Comments on Proposed Crypto Broker Reporting Regulations

On December 20th, 2023, the American Bar Association Tax Section published detailed comments and recommendations (the “ABA Comments”) on the proposed crypto broker reporting regulations.  As discussed here, the New York State...more

Farrell Fritz, P.C.

SEC’s First Two NFT Enforcement Actions Cast Shadow of Ambiguity

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The Securities and Exchange Commission recently brought its first two enforcement actions against issuers of non-fungible tokens (NFTs), resulting in cease-and-desist orders, penalties and other remedies, finding that the...more

Stikeman Elliott LLP

CSA Release Guidance on Public Crypto Asset Funds

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This summer, the Canadian Securities Administrators (“CSA”) published CSA Staff Notice 81-336 Guidance on Crypto Asset Investment Funds that are Reporting Issuers (the “Notice”) concerning funds that seek to invest in crypto...more

Ballard Spahr LLP

Second SEC NFT-Enforcement Action Finds Another NFT to Be a Security

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Summary - The SEC’s pursuit of the crypto industry continues with its second-ever settlement of a non-fungible token (NFT) enforcement action. The SEC settled with Stoner Cats 2 LLC (SC2), which sought to finance an...more

Jones Day

SEC Brings Its First Enforcement Action Against Non-Fungible Token Sellers

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Two SEC commissioners dissented and urged the Commission to provide further guidance on non-fungible tokens ("NFTs")....more

Mayer Brown Free Writings + Perspectives

For the First Time, the US SEC Sanctions an NFT Issuer for Selling Unregistered Securities in SEC v. Impact Theory

In a published settlement of the charges on August 28, 2023, the US Securities and Exchange Commission (“SEC”) stated that non-fungible tokens (“NFTs”) issued by Impact Theory, LLC (“Impact”) were “securities” under US...more

Ballard Spahr LLP

SEC Finds NFT to Be a Security in Landmark Action

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Summary - The SEC’s focus on the crypto industry expanded this week to include non-fungible tokens (NFTs). In its first NFT-enforcement action, the SEC settled with Impact Theory, a media and entertainment company, over...more

Jones Day

Ripple and Terraform Labs: Two New York District Courts Address the Status of Certain Crypto Assets as Securities

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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

Allen Barron, Inc.

IRS and California Tax Issues Associated with Non-Fungible Tokens or NFTs

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What is a Non-Fungible Token or NFT and what are the IRS and California tax issues associated with Non-Fungible Tokens or NFTs which might apply to you?  NFTs are unique tokens based in and recorded within a blockchain that...more

Polsinelli

Will There Be a Ripple Effect? Federal Judge Rules Some Sales of XRP Were Not Securities Transactions

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The long battle between the U.S. Securities and Exchange Commission (“SEC”) and Ripple reached a partial resolution with the Court ruling the digital asset at issue (“XRP”) is not itself a security and certain sales of the...more

Cadwalader, Wickersham & Taft LLP

The United Kingdom Introduces New Rules for Marketing Cryptoassets

The UK’s Financial Conduct Authority (“FCA”) has introduced robust new rules for those marketing cryptoassets to UK consumers. In Policy Statement PS23/6, new requirements covering financial promotions for all firms aimed at...more

Polsinelli

Kraken the Whip – Kraken Penalized Over Staking-as-a-Service

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On February 9, 2023, the U.S. Securities and Exchange Commission (the “SEC”) charged Kraken with offering and selling Kraken’s Staking Program – its staking-as-a-service product – as an unregistered security. Kraken, more...more

Bodman

First-of-Its-Kind Lawsuit Pitting Claims of Artistic Expression Involving NFTs Against Trademark Rights Should Have All Mark...

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Regardless of whether your business has any current plans to develop digital goods, including “non-fungible tokens” (NFTs), a recent verdict in a first-of-its-kind case involving trademark rights and digital assets should...more

Jones Day

"MetaBirkins" Bagged: NFT Creator Found Liable for Trademark Infringement

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In a closely watched trademark infringement case involving non-fungible tokens ("NFTs"), a jury found that the sale of digital images of Hermès's Birkin bags as NFTs infringed and diluted Hermès's trademarks....more

Polsinelli

Jury Sides with Hermès in Pivotal NFT Trademark Case

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On February 8, 2023, a federal jury awarded Hermès International and Hermès of Paris, Inc. (“Hermès”) $133,000 in its trademark lawsuit against designer Mason Rothschild. Hermès sued Rothschild for selling non-fungible tokens...more

Nelson Mullins Riley & Scarborough LLP

NFTs Found to Infringe Hermès Trademark

In a case with clear implications for non-fungible token art-based projects, a federal jury in the case of Hermès International, et al. v. Mason Rothschild, 1:22-cv-00384 (SDNY), found in favor of fashion brand Hermès in its...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

Participants don’t want crypto either

When things are going great, people are interested. When it isn’t, they aren’t. A new survey of retirement plan sponsors, financial advisors, and plan participants show little interest among plan participants to invest...more

Nelson Mullins Riley & Scarborough LLP

Clash of the Titans: SEC Sues Genesis and Gemini for Digital Asset Offerings

Like Zeus unleashing the Kraken in Clash of the Titans, the U.S. Securities and Exchange Commission (SEC) has unleashed the Kraken (not the digital asset company) to unleash havoc on Genesis Global Capital LLC (Genesis) and...more

Nelson Mullins Riley & Scarborough LLP

Nothing Gets Between These Celebrities and Their Crypto... Except a Class Action Lawsuit (and the Feds)

There is little in this world more valuable than fine art. Just ask Paul Allen, whose collection of paintings and sculptures recently fetched over $1.5 billion at auction, including $117 million for van Gogh’s “Verger avec...more

Kerr Russell

A Fair Warning: 401(k) Plan Sponsors May be Hard-Pressed to Defend Addition of Cryptocurrency Investment Option

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The U.S. Department of Labor (DOL) published guidance earlier this year warning fiduciaries who administer retirement plans to “exercise extreme care” when considering whether to include cryptocurrency as a plan investment...more

K2 Integrity

[Webinar] Opportunities, Risks, and Compliance in the Digital Asset Space - September 14th, 12:00 pm - 1:00 pm EST

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Digital assets—ranging from cryptocurrencies and stablecoins to non-fungible tokens (NFTs) and central bank digital currencies—hold the power to transform the world of traditional finance. But with such tremendous...more

The Volkov Law Group

DOJ Targeting Crypto Industry for Enforcement

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A basic truism — you do not want to become the subject of a Justice Department investigation.  The wheels of justice — prosecutors and law enforcement — can cause real harm to organizations and individuals that violate the...more

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