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Virtual Currency › Securities › Bitcoin

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 -
Paul Hastings LLP

The SEC Scored Another Crypto Victory in the LBRY Case, but the Sky Is Not Falling

Paul Hastings LLP on

Last week’s wild ride in the crypto-verse started, of all places, in New Hampshire. On Monday, a federal judge ruled that LBRY Credits (“LBC”) are securities, and thus LBRY violated Section 5 of the Securities Act of 1933 by...more

Foley & Lardner LLP

Cryptocurrency for Supply Chain Payments

Foley & Lardner LLP on

Today’s supply chains are frequently paper-based operations subject to human error and delay. Therefore, some companies are beginning to invest in digital infrastructure, including blockchain tools, to strengthen supply...more

Foodman CPAs & Advisors

Is Virtual Currency worth the Risk?

Foodman CPAs & Advisors on

We have read that Virtual Currency (VC) is a “speculative asset” that under certain circumstances may be used to pay for goods or services or be held for investment; and that its sale, exchange or use has tax consequences...more

Latham & Watkins LLP

The yellow brick road for consumer tokens: The path to SEC and CFTC compliance

Latham & Watkins LLP on

Developing a framework for consumer tokens - With the rapid growth in the development of blockchain technology, virtual currencies and token sales (sometimes referred to as initial coin offerings, or ICOs) in 2017 and...more

Katten Muchin Rosenman LLP

Bridging the Weeks - August 2018 #4

Katten Muchin Rosenman LLP on

The Commodity Futures Trading Commission revised its rule related to the responsibilities of chief compliance officers of futures commission merchants, swap dealers and major swap participants, as well as the obligations of...more

Dechert LLP

US Blockchain Enforcement and Litigation Update: Government enforcement and private litigation drive important developments in...

Dechert LLP on

With soaring cryptocurrency prices attracting significant new investment in late 2017, U.S. regulators sought to fill the statutory void by exercising jurisdiction over a variety of digital assets. That trend continued in the...more

Foodman CPAs & Advisors

Who will have the last word with Virtual Currency? IRS, FinCEN, SEC, OFAC or the CFTC?

Foodman CPAs & Advisors on

Virtual Currency (VC) investors are currently investing without clarity regarding which Government Agency(s) has the final word with respect to the treatment of VC. US Agencies: IRS, FinCEN, SEC and CFTC – have expressed...more

Skadden, Arps, Slate, Meagher & Flom LLP

Rise of Blockchain and ICOs Brings Regulatory Scrutiny

Skadden, Arps, Slate, Meagher & Flom LLP on

In 2017, the increased adoption of blockchain technology in various industries was partially obscured by the dramatic fluctuations in the price of bitcoins and the prevalence of so-called initial coin offerings (ICOs) to...more

Proskauer - New Media & Technology

SEC Speaks on Initial Coin Offerings: Tokens May Be Securities

Proskauer - New Media & Technology on

No blockchain phenomenon has garnered more attention lately than Initial Coin Offerings ("ICOs"), which have exploded in value and raised more than $1.2 billion thus far this year....more

Katten Muchin Rosenman LLP

Between Bridges: SEC Declines to Prosecute Issuer of Digital Tokens That It Deems Securities Not Issued in Accordance with US...

Katten Muchin Rosenman LLP on

Yesterday, the Securities and Exchange Commission published a Report of Investigation that concluded that digital tokens issued by an entity for the purpose of raising funds for projects – even if using distributed ledger or...more

Perkins Coie

Resources on Crypto-Tokens and Securities Law

Perkins Coie on

The following resources take a deep dive into the issues surrounding crypto-tokens and securities law and recognize that, when properly designed, some tokens may not meet the Howey test...more

Troutman Pepper

Blockchain and Public Securities: Shedding Light on 'Going Dark'

Troutman Pepper on

The application of blockchain technology to the securities market could prove to be a game changer by adding transparency, reducing costs and speeding up settlements. Initially known as the technology underlying the...more

Orrick, Herrington & Sutcliffe LLP

CFTC Considers Blockchain Technology

Orrick, Herrington & Sutcliffe LLP on

The disruptive effects of blockchain technology on the financial system may take several years to materialize. Nevertheless, in preparation, regulators are increasingly focused on understanding potential uses of blockchain...more

Troutman Pepper

Your Next IPO Could Be on the Blockchain

Troutman Pepper on

Delaware’s corporate law blockchain initiative includes a new class of “distributed ledger shares” and promises to lower transactional costs, speed up and automate manual processes, and reduce fraud. The public and...more

Pillsbury Winthrop Shaw Pittman LLP

Blockchain Basics: A Primer - Blockchain, the technology underlying the cryptocurrency Bitcoin, is poised to revolutionize how all...

Pillsbury Winthrop Shaw Pittman LLP on

You have probably heard of Bitcoin, a peer-to-peer, non-governmental currency. Bitcoin is the first money that is its own payment system. That is, no bank, money transmitter or intermediary of any kind is required to clear...more

Stinson - Corporate & Securities Law Blog

SEC Says Fantasy Stock Trading Violates Securities Laws; Charges Others for Selling Illegal Security-Based Swaps

Stinson - Corporate & Securities Law Blog on

The SEC issued an Investor Alert which says fantasy stock trading for small amounts of money can violate provisions of securities laws implemented by the Dodd-Frank Act. I bet the Congressional drafters of these provisions...more

Manatt, Phelps & Phillips, LLP

Bit Bites: Latest Legal Developments in Digital Currencies

Manatt, Phelps & Phillips, LLP on

When Is Bitcoin “Money” Versus a “Security”? In motions involving a high-profile criminal prosecution with ties to Silk Road and a Securities and Exchange Commission (SEC) enforcement action, two federal courts have clarified...more

Dorsey & Whitney LLP

SEC, Bitcoin and Unregistered Offerings

Dorsey & Whitney LLP on

Bitcoin has been a much discussed item recently. The virtual currency is a digital representation of value that is traded and can serve as a medium of exchange. There are websites that use it. At one time there was a stock...more

Broker-Dealer Compliance + Regulation

Federal Court Finds That Issuer Shares Purchased with Bitcoin Are Securities

Broker-Dealer Compliance + Regulation on

A federal district court has ruled that investors who pay for shares using Bitcoin have effectively invested money, at least for purposes of federal securities laws. The decision has implications for funds that seek to...more

Perkins Coie

Court Maintains Bitcoin-Related Investment Scheme Is A Security Under The Federal Securities Laws

Perkins Coie on

In response to the SEC’s first civil complaint arising from online virtual currency trading, alleged Bitcoin Ponzi schemer Trendon Shavers recently challenged the district court’s authority to hear the case. ...more

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