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Securities Exchange Act › Unregistered Securities › Cryptoassets

The Securities Exchance Act is a United States federal statute enacted in 1934 to govern the secondary securities trading market. In addition, the Securities Exchange Act established the Securities and Exchange... more +
The Securities Exchance Act is a United States federal statute enacted in 1934 to govern the secondary securities trading market. In addition, the Securities Exchange Act established the Securities and Exchange Commission (SEC), which is the primary regulatory agency enforcing federal securities laws. less -
Seward & Kissel LLP

Leash the Kraken: SEC Sues Kraken

Seward & Kissel LLP on

On November 20, 2023, the SEC filed a complaint in the United States District Court for the Northern District of California against Payward, Inc. and Payward Ventures, Inc. which, together, do business as Kraken. The...more

Holland & Knight LLP

A Ripple of Doubt

Holland & Knight LLP on

Specifically, the SEC wants a change to persuade the U.S. Court of Appeals for the Second Circuit – now, not later – of its view that Torres got it wrong when she determined that the company's offer and sale of its XRP token...more

Goodwin

SEC Sues Binance and Coinbase: What Are the Allegations and What Is Next?

Goodwin on

In the span of two days, June 5 and June 6, 2023, the US Securities and Exchange Commission (SEC) commenced proceedings against the largest crypto asset exchange in the world, Binance.com; its affiliated US exchange,...more

BakerHostetler

Coinbase Wins Dismissal of Class Action Alleging Sale of Unregistered Securities

BakerHostetler on

On February 1, the U.S. District Court for the Southern District of New York dismissed a putative class action brought by customers of Coinbase Global Inc. and its subsidiary Coinbase Inc. (together, Coinbase), alleging the...more

Orrick, Herrington & Sutcliffe LLP

SEC charges companies for offering and selling unregistered crypto asset securities

Orrick, Herrington & Sutcliffe LLP on

On January 12, the SEC filed a complaint in the U.S. District Court for the Southern District of New York against two companies (collectively, defendants), alleging that they were involved in the unregistered offer and sale...more

Eversheds Sutherland (US) LLP

New FINRA sweep targets crypto marketing

Eversheds Sutherland (US) LLP on

As might be expected, FINRA appears to be aligning itself with the SEC in its assertion of jurisdiction over investments that may not, at the end of the day, be deemed securities. ...more

Sheppard Mullin Richter & Hampton LLP

Uniswap and VC Backers Sued For Selling Unregistered Securities

Sheppard Mullin Richter & Hampton LLP on

A recent class-action lawsuit alleges that the “Uniswap Protocol” exchange is one of the largest crypto-asset exchanges in the world, which permits the unlawful promotion, offer, and sale of crypto tokens as unregistered...more

Katten Muchin Rosenman LLP

Bridging the Week - November 2019 #2

Katten Muchin Rosenman LLP on

A social media company and its wholly owned subsidiary sued by the Securities and Exchange Commission for conducting an offering of an unregistered digital security claimed that the agency was wrong in its characterization of...more

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