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Virtual Currency › Securities › Digital Currency

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 -
Brownstein Hyatt Farber Schreck

NFTs: Gateway to Financial Independence or Litigation Risk?

Brownstein Hyatt Farber Schreck on

NFTs—or “nonfungible tokens”—are everywhere. What was once seen as a collectors’ item for crypto geeks and LeBron James TopShop fanatics is now gaining popularity with a much wider audience. Take the recent example of the...more

Allen Matkins

SEC Alleges Form 10 Was Misleading, But Is The SEC's Order Itself Misleading?

Allen Matkins on

Last week, the Securities and Exchange Commission announced that it had "instituted proceedings against American CryptoFed DAO LLC, a Wyoming-based organization, halting the effectiveness of the company’s registration of two...more

Barnea Jaffa Lande & Co.

Transfer of Digital Currencies - The Dream and its Collapse

Barnea Jaffa Lande & Co. on

Regulatory resistance and legal proceedings conducted by the U.S. Securities and Exchange Commission (S.E.C.) are currently hindering the realization of one of the greatest promises of blockchain technology – the transfer of...more

White & Case LLP

Cryptoassets and ICOs: EU Regulators Show Their Hand

White & Case LLP on

On 9 January 2019, the European Banking Authority (EBA)1 and the European Securities and Markets Authority (ESMA)2 published two reports with their advice on cryptoassets for the European Commission (EC) (and in ESMA's case,...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

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

Jones Day

SEC's Investigative Report Raises Difficult Questions for ICO Issuers

Jones Day on

Against the backdrop of recent growth of initial coin or token offerings ("ICOs"), the U.S. Securities and Exchange Commission ("SEC"), on July 25, 2017, published its first public statements on this fundraising practice. The...more

King & Spalding

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

King & Spalding on

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

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

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

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