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Virtual Currency › Anti-Fraud Provisions

Virtual Currency (aka Digital Currency or Digital Money) is a type of currency or medium of exchange that is not issued by any government nor guaranteed by a government currency. Despite lacking legal tender... more +
Virtual Currency (aka Digital Currency or Digital Money) is a type of currency or medium of exchange that is not issued by any government nor guaranteed by a government currency. Despite lacking legal tender status, Virtual Currency is still traded and exchanged in some environments, typically online environments or communities. Bitcoin is the most well-known form of Virtual Currency.    less -
Morgan Lewis

New York Attorney General Proposes Comprehensive and Restrictive Digital Assets Bill

Morgan Lewis on

New York Attorney General Letitia James introduced on May 5, 2023 a proposed bill that, if enacted, would significantly tighten regulation over digital asset market participants and exchanges. While the New York State...more

Cadwalader, Wickersham & Taft LLP

First Attempt to Regulate Spot Digital Asset Activities

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On March 29, the National Futures Association (“NFA”) promulgated Compliance Rule 2-51, setting forth Requirements for Members and Associates Engaged in Activities Involving Digital Asset Commodities, which includes both...more

Polsinelli

John McAfee Meet Agent Smith

Polsinelli on

 Agent Smith in the Matrix described humans as a “virus.  A disease, a cancer of this planet. You are a plague, and we are the cure.” While not alleging all human beings are a virus, the U.S. government views John McAfee, the...more

Polsinelli

SEC Mike Drop on Rapper and Film Producer Charged With Illegal ICOs

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The U.S. Securities and Exchange Commission (SEC) recently announced charges against rapper and actor Clifford Harris, Jr., known as T.I. or Tip, film producer Ryan Felton, and three others who promoted Felton’s unregistered...more

Orrick - On the Chain

Power of the Peirce: SEC Commissioner Spends Some of Her Influence on Trying to Help Crypto Network Developers

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SEC Commissioner Hester Peirce continues to be one of the most vocal persons in leadership positions at federal regulators who are promoting innovation in digital currency and the blockchain....more

Perkins Coie

Blockchain Week in Review - January 2020 #3

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U.S. Developments - Federal and State Regulatory Developments - Bill in Hawaii State Senate Addresses Digital Assets Including Authorization for Banks to Serve as Qualified Custodians - SB 2594 before the Hawaii...more

Katten Muchin Rosenman LLP

Bridging the Weeks - July 2019 #5

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A federal appellate court in California issued a decision effectively ratifying the Commodity Futures Trading Commission’s expansive view of its authority to bring enforcement actions addressing a diverse range of purported...more

Skadden, Arps, Slate, Meagher & Flom LLP

The Distributed Ledger: Blockchain, Digital Assets and Smart Contracts

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This is the inaugural issue of The Distributed Ledger, a periodic publication covering the latest trends and developments in blockchain technology, digital assets and smart contracts. In this edition, we examine a federal...more

Skadden, Arps, Slate, Meagher & Flom LLP

Recent Court Decisions Shine Spotlight on Scope of CFTC’s Dodd-Frank Anti-Fraud and Anti-Manipulation Enforcement Authority

Skadden, Arps, Slate, Meagher & Flom LLP on

Recent federal court decisions, and a pending appeal in the Ninth Circuit, highlight disagreement among the courts as to the scope of the Commodity Futures Trading Commission’s (CFTC) anti-fraud and anti-manipulation...more

Proskauer - Blockchain and the Law

Busy day for CFTC and SEC Cryptocurrency Regulators: Enforcement Actions, a Public Letter, and Joint Statement

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The CFTC and SEC made numerous headlines Friday in their ongoing efforts to provide regulatory oversight of cryptocurrency markets. The CFTC announced the filing of two civil enforcement actions against allegedly fraudulent...more

Proskauer - Blockchain and the Law

CFTC Releases Chairman Statement and Backgrounder on Virtual Currencies

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The Commodity Futures Trading Commission (CFTC or Commission) Chairman J. Christopher Giancarlo issued a statement this week on virtual currencies. The CFTC also released a backgrounder on its oversight of and approach to...more

Proskauer - Blockchain and the Law

New York State Department of Financial Services Issues Guidance to Virtual Currency Entities

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On February 7, 2018, the New York State Department of Financial Services (“DFS”) issued guidance for all virtual currency entities licensed by New York State regarding the prevention of market manipulation, fraud, and other...more

Goodwin

New York Department of Financial Services Issues Crypto Guidance; Outlines Enhanced Reporting Requirements

Goodwin on

On February 7, 2018, the New York State Department of Financial Services (NY DFS) issued guidance to all virtual currency businesses that maintain a “BitLicense” or that are chartered as a limited purpose trust company under...more

Robins Kaplan LLP

Your Daily Dose of Financial News

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Volatility was again the name of the game on Thursday in the US markets, which closed down nearly 4% again and headed into official “correction” territory....more

Perkins Coie

CFTC Flexes Its Regulatory Muscle in a Case Involving a Virtual Currency

Perkins Coie on

Just like the Securities and Exchange Commission (SEC), the Commodity Futures Trading Commission (CFTC) is actively policing the virtual currency market. On January 24, 2018, the CFTC announced an enforcement action against...more

Perkins Coie

Blockchain Week in Review – April 2017 #2

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Below is a summary of some of the significant legal and regulatory actions that occurred over the past week. This alert is not intended to be a comprehensive list of all such developments, but rather a selection of...more

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