News & Analysis as of September 23, 2024

Virtual Currency › Securities Exchanges

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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 -

Part 2: CFTC Finalizes Guidance on Digital Assets in the Context of Retail Commodity Transactions

Perkins Coie on 5/4/2020

The Regulation of Retail Commodity Transactions—History and Background - On March 24, 2020, the U.S. Commodity Futures Trading Commission (the Commission or the CFTC) finalized long-awaited interpretive guidance regarding...more

CFTC Finalizes Guidance on Digital Assets in the Context of Retail Commodity Transactions

Perkins Coie on 5/1/2020

On March 24, 2020, the U.S. Commodity Futures Trading Commission (the Commission or the CFTC) finalized long-awaited interpretive guidance regarding what constitutes the “actual delivery” of a digital asset in the context of...more

SEC Division of Enforcement 2019 Annual Report Shows Cryptocurrency Is Still Under the Microscope

Orrick - On the Chain on 11/26/2019

The SEC Division of Enforcement’s 2019 Annual Report, released earlier this month, shows a continuing focus on activities involving blockchain and cryptocurrency, and its website shows an increase in cases since last fiscal...more

Blockchain Week in Review - October 2019

Perkins Coie on 10/18/2019

U.S. Developments - U.S. Federal Regulatory Developments - CFTC, FinCEN, and SEC Leaders Release a Join Statement on Digital Assets - On October 11, 2019, the heads of the Commodity Futures Trading Commission (“CFTC”),...more

SEC Disapproves of Proposed Rule Change for Winklevoss Bitcoin Trust

Burr & Forman on 8/3/2018

On July 26, 2018, the Securities and Exchange Commission issued a 92-page release disapproving of Bats BZX Exchange, Inc.’s (“BZX”) proposed rule change which sought to list and trade shares of the Winklevoss Bitcoin Trust....more

Apple Updates Crypto Currency Aspects of App Store Review Guidelines

Sheppard Mullin Richter & Hampton LLP on 7/13/2018

Apple’s App Store Review Guidelines have been updated to address various aspects of crypto currency. Some of the relevant provisions include the following. One of the provisions relates to prevents an app from including...more

Legal Issues With Blockchain-Based Crypto Games and Collectibles

Sheppard Mullin Richter & Hampton LLP on 5/11/2018

The use of blockchain technology for crypto games and token-based digital collectibles is on the rise. One of the first crypto games of note was CryptoKitties. It may turn out that CryptoKitties becomes to crypto games what...more

Beijing-Based Cryptocurrency Trading Exchanges Told to Announce Trading Halt

Perkins Coie on 9/20/2017

Under the impact of the Chinese government’s recent formal notices of halting ICOs, Notice 99 and Joint Notice released on September 2, 2017 and September 4, 2017 respectively, Beijing authorities have taken further actions...more

SEC Statement on Treatment of Digital Assets under the Federal Securities Laws

BakerHostetler on 8/4/2017

The U.S. Securities and Exchange Commission has provided welcome guidance by publishing its most comprehensive statement to date on the treatment of digital assets – and the offer and sale of such assets by "virtual"...more

SEC Report Determines DAO Tokens, A Digital Asset, Were Securities

King & Spalding on 8/3/2017

On July 25, 2017, the U.S. Securities and Exchange Commission (“SEC”) released a Report of Investigation (“Report”) warning market participants that offers and sales of digital assets (“Tokens”) by “virtual” organizations...more

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Virtual Currency › Securities Exchanges

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