News & Analysis as of

Registration Requirement Enforcement Actions Token Sales

Goodwin

SEC Wins Injunctive Relief to Prevent Telegram's Distribution of $1.7 Billion Worth of Cryptocurrency

Goodwin on

In a recent decision in Securities and Exchange Commission v. Telegram Group Inc. and TON Issuer Inc., the United States District Court for the Southern District of New York granted a motion for a preliminary injunction by...more

Katten Muchin Rosenman LLP

Bridging The Week - February 2020

Last week, a commissioner at the Securities and Exchange Commission proposed a rule that would provide a bright line when a digital asset initially issued to raise funds to help develop a new network might later be regarded...more

Orrick - On the Chain

SEC Settles with BCOT on Alleged Violations of the Securities Act

Orrick - On the Chain on

On December 18, 2019, the Securities and Exchange Commission announced settled charges against blockchain technology company Blockchain of Things Inc. (BCOT) for conducting an unregistered initial coin offering (ICO) of...more

Jones Day

ICOs and Digital Assets: A New and Optional Legal Regime in France

Jones Day on

The Situation: ICOs and digital assets have become a new phenomenon that has impacted many aspects of our modern economies and created an alternative way of financing for start-ups or small and medium-sized enterprises. ...more

Sheppard Mullin Richter & Hampton LLP

With the SEC, Cooperation is Key

As an expensive “slap on the wrist,” the Securities and Exchange Commission (“SEC” or the “Commission”) recently concluded that approximately $12.7 million worth of funds raised in a 2017 Initial Coin Offering (“ICO”) by...more

Allen Matkins

Rescinding Initial Coin Offerings Under California Law

Allen Matkins on

John Jenkins at the The Mentor Blog wrote this morning about the Securities and Exchange Commission's relaxed approach to remedying unregistered initial coin offerings (aka ICOs). According to John, the SEC is allowing an...more

Perkins Coie

Blockchain Week in Review - February 2019 #4

Perkins Coie on

U.S. Developments - Regulatory Updates - SEC Settles Enforcement Action with Gladius Network - On February 20, 2019, the U.S. Securities and Exchange Commission (“SEC”) announced the settlement of charges against...more

Katten Muchin Rosenman LLP

Bridging the Week - February 2019 #3

The US Department of Justice vehemently opposed the request for a new trial by the first person charged, convicted and sentenced under the Dodd-Frank Wall Street Reform and Consumer Protection Act’s prohibition against...more

Perkins Coie

The SEC and Digital Assets—A Busy Year End

Perkins Coie on

The end of the year has been a very busy time for the SEC in the digital asset space. From speeches to the issuance of joint statements to enforcement actions, there are many things to highlight, discuss and consider. This...more

Proskauer - Blockchain and the Law

Airfox and Paragon Settle with SEC for Unregistered ICOs: Civil Monetary Penalties Imposed; Rescission and Registration Required

On November 16, the SEC announced that it settled charges against CarrierEQ, Inc. (“Airfox”) and Paragon Coin, Inc. (“Paragon”) for securities offering registration violations in connection with their respective initial coin...more

Katten Muchin Rosenman LLP

Bridging the Week - November 2018 #3

The Commodity Futures Trading Commission’s Division of Enforcement issued its annual report last week; it said the purpose of its enforcement program was to engender a “true culture of compliance.” The Division suggested the...more

A&O Shearman

ICO Issuers Settle With The SEC Over Unregistered Coin Offerings

A&O Shearman on

On November 16, 2018, the U.S. Securities and Exchange Commission (“SEC”) instituted separate settled administrative proceedings against Carrier EQ Inc., d/b/a AirFox (“AirFox”) and Paragon Coin Inc. (“Paragon”) for failing...more

Proskauer - The Capital Commitment

SEC Extends Registration Requirements for Investment Companies and Broker Dealers to ICO/Crypto Firms

Fund managers take note – after over a year of warning, this month the SEC announced a pair of settlement orders with respect to registration requirements for a fund and broker dealer operating in the crypto and digital...more

Jones Day

Texas Enforcement Sweep Finds Widespread Fraud in Cryptocurrency Offerings

Jones Day on

The surge in cryptocurrency activity has led to an increase in attention from enforcement authorities at both the state and national levels. The Texas State Securities Board launched an investigation into cryptocurrency...more

Dechert LLP

SEC Issues Statement on Potentially Unlawful Online Platforms for Trading Digital Assets

Dechert LLP on

The staff of the Divisions of Enforcement and Trading and Markets (collectively, Staff) of the U.S. Securities and Exchange Commission (SEC) on March 7, 2018 jointly issued a statement on digital asset trading platforms...more

White and Williams LLP

SEC Issues Guidance to Cryptocurrency Exchanges

White and Williams LLP on

On March 7, 2018, the US Securities and Exchange Commission (SEC) issued additional guidance with respect to digital assets trading platforms, affirming that platforms that offer trading of cryptocurrencies that are...more

Mitchell, Williams, Selig, Gates & Woodyard,...

SEC Cracks Down on "Initial Coin Offerings"

Last week, the Securities and Exchange Commission (SEC) released a public statement clarifying that cryptocurrencies may indeed be subject to federal securities laws, and warns investors and market participants alike of the...more

Dechert LLP

SEC Focuses on Initial Coin Offerings: Tokens May Be Securities Under Federal Securities Laws

Dechert LLP on

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

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