This week, Acting Comptroller of the Currency Michael Hsu gave remarks to the DC Blockchain Summit titled “Crypto: A Call to Reset and Recalibrate.” By speaking at the Blockchain Summit, Mr. Hsu may have gone into the...more
This month, the Securities and Exchange Commission (SEC) announced that it has entered into a settlement with SimplyVital Health, Inc., a blockchain company that offered and sold approximately $6.3 million worth of securities...more
The U.S. District Court for the District of Massachusetts recently sided with the Commodity Futures Trading Commission (CFTC) and decided that virtual currencies are commodities. This ruling confirms the regulator’s...more
Bitcoin and other digital assets were conceived as radical, decentralized currencies that would operate independently, outside of traditional banking systems and unencumbered by regulations....more
Sigue habiendo dirección limitada del Tesoro de los EE.UU y el IRS sobre la Moneda virtual (MV) y los inversionistas de la MV deben proceder con cautela....more
In Commodity Futures Trading Commission v. My Big Coin Pay, Inc., — F. Supp. 3d —, 2018 WL 4621727 (D. Mass. Sept. 26, 2018), the Massachusetts District Court determined that the Commodity Futures Trading Commission (“CFTC”)...more
In the last month, UK and European politicians have been vocal about the regulation, or lack thereof, in the virtual currency sphere. ...more
After allowing registration and transfer of unlisted securities through distributed ledgers in 2017 and drafting legislation for initial coin offerings (ICOs) earlier this year, France is contemplating the introduction of a...more
The ongoing debate on whether virtual currencies with certain characteristics should be classified as commodities subject to regulation and enforcement by the Commodities Futures Trading Commission (CFTC) is the focal point...more
The Fifth Anti-Money Laundering Directive (MLD5) entered into force in July 2018. MLD5 updates the legal framework under the Fourth Anti-Money Laundering Directive (MLD4) and must be implemented by the EU member states by...more
On September 11, the SEC announced a pair of settled cryptocurrency enforcement actions. The first was against an unregistered digital-asset hedge fund. The second shut down an “ICO Superstore” as an unregistered...more
Amid concerns that many investors may not fully understand the risks associated with virtual currencies, or the limits of regulatory oversight, the National Futures Association (NFA) recently issued an interpretive notice...more
The U.S. Department of Justice (DOJ) earlier this week announced that it was disbanding the Financial Fraud Enforcement Task Force, established under the Obama Administration. ...more
Facebook isn’t the only tech stock having a good week. Amazon—helped along by its booming cloud business—more than doubled its net income in Q1 as compared to a year ago....more
SEC Proposes to Enhance Protections and Preserve Choice for Retail Investors in Their Relationships with Investment Professionals - On April 18, the Securities and Exchange Commission voted to propose a package of...more