On February 7, 2024, the U.S. Securities and Exchange Commission (“SEC”) announced charges and a related cease-and-desist order (the “Order”) against TradeStation Crypto, Inc. (“TradeStation”) for failing to register the...more
The Maine Office of Securities enforces Maine’s securities laws, licenses broker-dealers, broker-dealer agents, investment advisers, and investment adviser representatives, and reviews registration statements and exemption...more
Earlier this year, on February 14, 2022, the SEC issued to BlockFi Lending LLC (“BlockFi”), a crypto lending platform, a cease-and-desist order (the “Order”). See BlockFi Lending LLC. The Order prohibits BlockFi from engaging...more
Last Friday, the Department of Financial Protection & Innovation issued a warning about "romance scams and cryptocurrency". This warning is similar to one issued this month by the North American Securities Administrators...more
U.S. Regulatory - Kik Files Answer to SEC Complaint - On August 7, Canadian messaging company Kik Interactive Inc. (“Kik”) filed its answer to the U.S. Securities and Exchange Commission’s (“SEC”) complaint filed in the...more
Blockchain Payment Solutions, Patents and Market Data Announced - Late last week, a major U.S. financial services firm made headlines with several blockchain-related developments. ...more
The North American Securities Administrators Association (NASAA) this week approved an information security model rule package aimed at improving the cybersecurity posture of the 17,543 state-registered advisers. ...more
Cryptocurrency is the newest investment vehicle used by companies to raise capital. At the federal level, the Securities and Exchange Commission has increased its scrutiny of cryptocurrencies over the past two years; but...more
For those still in the dark about cryptocurrency, the North American Securities Administrators Association (aka NASAA) has released an animated video on the subject. According to NASAA, the video "focuses on concerns...more
New Blockchain Trading Platforms and Capital Markets Offerings Announced - Recently, it was reported that a popular Colorado resort planned to sell “Aspen Coins” in a Reg D 506(c) offering on a token trading platform...more
A key regulator has announced a cryptocurrency crackdown in conjunction with Canadian as well as U.S. federal and state regulators. Also, the CFTC has released new guidance for clearinghouses and exchanges, while a key state...more
US state and federal regulators recently offered carrots to guide market actors toward better behavior and are using the stick of enforcement actions to discourage fraud in ICOs and other cryptocurrency-related offerings....more
Though they have become a hot topic in the past year, cryptocurrencies still occupy something of an untamed frontier in the financial trading and investment ecosystem — but a coordinated, international effort by regulators to...more
On May 21, the North American Securities Administrators Association (“NASAA”) announced a massive and coordinated series of enforcement actions by U.S. state and Canadian provincial regulators to combat fraudulent practices...more
This past week was a busy one for state securities regulators, the CFTC and the SEC as they continue their focus on rooting out fraud from the digital currency space and crypto- and blockchain-based ventures. Noteworthy...more
If 2017 was the year that cryptocurrencies came to the forefront of public attention, 2018 will be the year that this emerging medium of exchange enters a new phase of regulatory scrutiny. As an example, on January 4, 2018,...more
On the same day that a meteorological blizzard slammed the Eastern Seaboard, U.S. financial regulators unleashed their own flurry of statements and warnings surrounding initial coin offerings (ICOs) and cryptocurrencies....more