News & Analysis as of September 20, 2024

Virtual Currency › Class Action

+ Follow

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 -

CryptoLink - December 2023 Updates

Akin Gump Strauss Hauer & Feld LLP on 1/19/2024

On the one hand, the year ended where it began. The legislation on stabelecoins and market structure that would provide a regulatory framework for digital assets has still not been enacted into law. And Securities and...more

District Court says EFTA applies to cryptocurrency

Orrick, Herrington & Sutcliffe LLP on 3/9/2023

On February 22, the U.S. District Court for the Southern District of New York partially granted a cryptocurrency exchange’s motion to dismiss allegations that its inadequate security practices allowed unauthorized users to...more

Proposed Cryptocurrency Class Action Goes Forward in Florida With Defendant’s Help

Carlton Fields on 10/12/2022

Two plaintiffs in Miami-Dade County have filed a class action complaint against cryptocurrency platform Empires X Corp. and its founders based on an alleged Ponzi scheme. In Villanueva v. Empires X Corp., pending in Florida’s...more

Crypto Litigation Claims, Defenses Industry Should Watch

Bilzin Sumberg on 8/12/2022

Cryptocurrency companies face a steadily growing number of lawsuits, adding to a list of recent headaches for their industry. That list includes steep recent declines in investment value and a high probability of new...more

DAO Liability and the bZx Class Action

Sheppard Mullin Richter & Hampton LLP on 6/15/2022

A class action lawsuit filed by users of a decentralized finance (“DeFi”) protocol managed by a decentralized autonomous organization, or “DAO,” may shed light on the potential legal liabilities of a DAO and its...more

Eleventh Circuit Overturns Dismissal of Cryptocurrency Ponzi Scheme Class Action Suit

Goodwin on 3/9/2022

IN THIS ISSUE - Eleventh Circuit Overturns Dismissal of Cryptocurrency Ponzi Scheme Class Action Suit; Federal Court of Appeals Dismisses Leading Fannie Mae and Freddie Mac Shareholder Lawsuits; NY Seeks Blockchain...more

Is it Ruff To Run an Internet Currency Sweepstakes?

Verrill on 2/23/2022

Last month, a class action lawsuit was dismissed, in part, against plaintiffs who opted into Coinbase Global’s $1.2 Dogecoin sweepstakes. Dogecoin is an open source peer-to-peer digital currency (say that twice), with a cute...more

“Are You Guys Into Crypto???”: Celebrities Promoting Cryptocurrencies Become Class Action Targets

Venable LLP on 2/9/2022

A class action lawsuit filed against Kim Kardashian, Floyd Mayweather, and former professional basketball player Paul Pierce earlier this month underscores the need for celebrity endorsers to take care when they approach any...more

Northern District Of California Holds That Section 230 Applies To App Store

Morrison & Foerster LLP - Social Media on 6/10/2021

While Section 230 of the Communications Decency Act continues to face significant calls for reform or even elimination, the recent Coffee v. Google case illustrates that Section 230 continues to provide broad protection to...more

Blockchain Litigation Year in Review (Part 1): Lessons From 2019 And What’s Ahead For 2020

Polsinelli on 2/20/2020

When is a digital asset a security or a commodity? Are SAFTs safe? Does hyping blockchain create an expectation of profit? Is blockchain a trademark, trade secret or neither? Are free tokens tax-free? Who is Satoshi Nakamoto?...more

Cryptocurrency Securities Class Action Suits: Paving the Path for U.S. Jurisdiction

Alston & Bird on 8/30/2018

The Tezos case presents a relatively novel application of traditional threshold jurisdictional principles to the new world of digital offerings. Our Securities Litigation Group provides insights for both ICO sponsors and...more

Is there a Unicorn Among ICO Issuers?

Sheppard Mullin Richter & Hampton LLP on 8/24/2018

The United States Securities and Exchange Commission (“SEC”) has indicated that nearly all initial coin offering (“ICO”) filings they have seen are securities offerings. Based on this expansive view, it may be more likely to...more

Tezos Class Action Progresses Beyond the Motion to Dismiss Stage

Burr & Forman on 8/20/2018

Earlier this month the United States District Court for the Northern District of California issued its opinion denying several motions to dismiss, including one filed by the Tezos Foundation, regarding class allegations...more

Your Daily Dose of Financial News

Robins Kaplan LLP on 8/14/2018

Elon Musk had some explaining to do in light of his “funding secured” tweet on August 7 in the context of taking Tesla private, and he’s gone to the corporate blog to do so, arguing that his meetings with representatives of...more

Buying Coffee with Bitcoin, Tracking Ships with Blockchain, Fighting Financial Crimes and Litigating ICOs

BakerHostetler on 8/13/2018

In this issue: - - New Solutions Seek to Bring Cryptocurrencies Closer to Mainstream - Blockchain Developments for Shipping, Food, Pharmaceuticals and Diamonds - Cryprocurrency Scams and Enforcement Actions...more

Cryptocurrencies Face Rise in Investor Class Actions

Kramer Levin Naftalis & Frankel LLP on 8/3/2018

After a surge in popularity and an increased interest from regulators, virtual currencies — also known as cryptocurrencies — have entered into a new phase in their relatively short history, with an increase in class actions...more

In Crypto Litigations Mandatory Arbitration Agreements May Not Be Immutable

Carlton Fields on 6/15/2018

Permissionless blockchains, like the one underlying the bitcoin payment network, were created to provide the public with transparency over transaction information and records....more

Your Daily Dose of Financial News

Robins Kaplan LLP on 5/23/2018

The US House included the revised Volcker Rule that we’ve discussed in a broader package of Dodd-Frank reforms that it passed with bipartisan support last night. The bill—ostensibly aimed at easing restrictions on small to...more

In-Game Currency Triggers State Gambling Laws, Rendering Mobile Game “Illegal Gambling”

Fenwick & West LLP on 4/13/2018

The U.S. Court of Appeals for the Ninth Circuit concluded on March 28 that virtual currency used in mobile games can qualify as a “thing of value” for the purpose of state gambling laws — a conclusion that, until now, has...more

Data Privacy + Cybersecurity Insider - April 2018 #2

Robinson & Cole LLP on 4/13/2018

Pipeline Companies Targeted by Cyber-Attacks - Reports show that U.S. energy companies reported more than 350 cybersecurity incidents to the U.S. Department of Homeland Security between 2011 and 2015. Pipeline companies are...more

Social Casino Game Found to Be Illegal Gambling

Sheppard Mullin Richter & Hampton LLP on 3/30/2018

The Ninth Circuit Court of Appeals reversed a district court’s dismissal of a purported class action and held that a social casino game constituted illegal gambling under Washington law. According to the Court, all online or...more

Your Daily Dose of Financial News

Robins Kaplan LLP on 3/23/2018

The White House’s protectionist plan to impose roughly $60 billion in annual tariffs on Chinese imports went over like a lead balloon on Wall Street, sparking fears of a trade war, increased volatility, and unintended ripple...more

Your Daily Dose of Financial News

Robins Kaplan LLP on 3/13/2018

Notwithstanding Lloyd’s assurances that the rumors of his demise are premature, Goldman has cleared the path forward for David Solomon (aka, one of its current co-Presidents, aka, DJ D-Sol) to assume the CEO position when Mr....more

Your Daily Dose of Financial News

Robins Kaplan LLP on 3/12/2018

The Journal dropped something of a bomb on Friday with news that Goldman Sachs’ CEO Lloyd Blankfein is heading out the door as soon as the end of the year. If true, Goldman will likely look for his replacement within its...more

Cryptocurrency Class Action Lawsuits: A New Frontier

Polsinelli on 3/7/2018

Cryptocurrencies, like Bitcoin and Ethereum, had a breakout year in 2017. The price of Bitcoin rose from approximately $1,000 per Bitcoin on January 1, 2017, to $13,000 per Bitcoin on December 31, 2017, with a high of...more

44 Results

View per page

Page: of 2

Virtual Currency › Class Action

"My best business intelligence, in one easy email…"