Pending before the Second Circuit is a unique (and apparently sua sponte) application of the jurisdictional test announced by the Supreme Court in Morrison v. Nat’l Australia Bank Ltd., to dismiss non-securities state law...more
Ohio Enacts Cybersecurity Law with addition of Blockchain to Ohio’s Uniform Electronic Transactions Act - On August 7, 2018 Ohio Governor John Kasich signed SB 220, which adds “blockchain technology” to the definition of...more
On May 29, the SEC announced that it had secured injunctive relief halting an allegedly “ongoing fraud” involving an unregistered, non-exempt ICO that raised as much as $21 million in cryptoassets. The SEC’s complaint...more
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
The U.S. Securities and Exchange Commission (SEC) has recently taken several actions to make clear that it is focused on and actively monitoring the rapidly growing market for so-called “token sales” or “initial coin...more