News & Analysis as of June 2, 2025

Enforcement Actions

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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 -

International Sanctions Requirements for Virtual Asset Service Providers: a Cayman Perspective

Conyers on 11/20/2024

As the war continues to rage on the Eastern front between Russia and Ukraine, the financial sanctions resulting from the initial invasions and ongoing conflict seem likely to continue to play a significant part in the global...more

Modern Times - SEC Moves to Freeze Assets of Alleged $12M Crypto Investment Scam

Polsinelli on 6/16/2020

The U.S. Securities Exchange Commission (SEC) is asking a court to freeze the assets of a cryptocurrency mining and multilevel marketing scheme that allegedly defrauded investors of $12 million. The SEC's complaint alleges...more

Cryo-currency? Hong Kong Court grants freezing injunction over bitcoins

Hogan Lovells on 12/5/2019

A Hong Kong court has granted an injunction freezing the assets of a French cryptocurrency trader in a dispute over what happened to bitcoins held in an insolvent trading platform. In Nico Constantijn Antonius Samara v Stive...more

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

Perkins Coie on 1/30/2018

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

SEC Brings First Enforcement Action Related to Initial Coin Offerings

Jones Day on 10/11/2017

The Situation: Promoters of two recent initial coin offerings face charges of investor fraud brought by the SEC, after allegedly misrepresenting the assets purportedly backing the offerings, exaggerating the amount of funds...more

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