Marc Powers

Traditional and Crypto Firms Across Globe Launch New Initiatives, UN Designs Blockchain Land Registry, Privacy Wallets Spark Debate, Crypto Enforcement Continues

In this issue: • Cryptocurrency Firms and Legacy Financial Instituadingtions Worldwide Make Crypto Moves • Traditional and Crypto Firms Partner to Launch Tokenized Stocks and Other Products • UN Designs Blockchain Land Registry; Solutions Address Supply Chain, Energy Efficiency • Crypto Privacy Wallets Spark Debate, Blockstack Says STX Will Shed Security Status • U.S. and … Continue Reading

U.S. Crypto Exchange Approved as Wyoming Bank; Firms Integrate Blockchain for Data Management; Multiple Enforcement Actions by Treasury, SEC, DOJ and CFTC

By Robert A. Musiala, Jordan R. Silversmith and Marc Powers on September 18, 2020 Posted in Blockchain, Cryptocurrency, ICOs, Securities & Exchange Commission

In this issue: • U.S. Crypto Exchange Approved as Wyoming Bank, MSB Regulations to be Simplified • Auto, Mining and Financial Firms Integrate Blockchain for Data Management • OFAC, DOJ, IRS and FATF Take Various Actions Against Cryptocurrency Crimes • SEC Charges ICO Issuers, DOJ and CFTC Charge Defendants in Crypto Fraud Schemes • DOJ, … Continue Reading

Recent Securities Class Actions Targeting ICOs Raise Variety of Complex Legal Issues

By Marc Powers, Robert A. Musiala and Matt Friedman on August 6, 2020 Posted in ICOs

On April 3, 2020, exactly one year after the Securities and Exchange Commission (SEC) issued its “Framework for ‘Investment Contracts’ Analysis of Digital Assets” (Framework), 11 class action lawsuits were filed in the Southern District of New York by two law firms representing various combinations of four proposed lead plaintiffs. The lawsuits all name as … Continue Reading

Crypto-Focused Bank Achieves Approval in Wyoming, US HHS Implements Blockchain, NY Challenge to OCC Fintech Charter Continues, ICO Issuer Charged in Fraud Scheme

By Marc Powers, Robert A. Musiala, Veronica Reynolds and Joanna F. Wasick on July 31, 2020 Posted in Cryptocurrency, ICOs

In this issue: • Crypto-Focused Bank Approved in Wyoming, Initiatives Advance in Foreign Markets • US HHS Implements Blockchain; Clothing, Food and Shipping Platforms Expand • NY Challenges OCC Fintech Charter in 2nd Circuit, Fintech Report Covers First Half of 2020 • ICO Issuer Charged With Fraud in US, Chinese Police Arrest 27 for PlusToken … Continue Reading

Solutions Announced in Pharma, Energy and Food Industries, Digital Dollar Project Launches, France Approves Second ICO, Major Crypto AML Report Published

By Robert A. Musiala, Jordan R. Silversmith, Teresa Goody Guillén and Marc Powers on June 5, 2020 Posted in Blockchain, ICOs

In this issue: • Blockchain Solutions Launch in Pharma, Energy and Food Industries • Digital Dollar Project Launches, Cryptocurrency Focused Bank Receives Investment • French Regulator Approves ICO, New Token Standards Body Launches • DOJ and SEC Continue Prosecuting Crypto Crimes, CipherTrace Issues AML Report Blockchain Solutions Launch in Pharma, Energy and Food Industries By: … Continue Reading

Tezos and ATB Cryptocurrency Class Action Cases Provide Guidance on Different Factors Driving Settlements Against ICO Issuers for Securities Laws Registration Violations

By Marc Powers and Joanna F. Wasick on June 4, 2020 Posted in Cryptocurrency

On April 30, 2020, a federal court in San Francisco preliminarily approved a $25 million class action settlement against the Swiss-based Tezos Foundation, its Californian founders, and other domestic and foreign firms directly involved in the 2017 initial coin offering (ICO) of its token, XTZ. The Tezos offering was conducted on a worldwide basis to … Continue Reading

FDA Blockchain Report Released, Crypto Fund Launched, Blockchain Trading Platforms Developed, Crypto Payment Firms Make Announcements, Bitcoin Mining Map Published

By Robert A. Musiala, Teresa Goody Guillén and Marc Powers on May 8, 2020 Posted in Blockchain, Cryptocurrency

In this issue: • FDA DSCSA Blockchain Pilot Report Released, Consortium Formed for Energy Grids • New Crypto Funds, Crypto Broker-Dealer Applications, Blockchain Securities Clearing • Libra Association Hires CEO, Crypto Payments Firms Report Growth and Gain Licenses • Bitcoin Network Difficulty Increases Prior to ‘Halving,’ Bitcoin Mining Map Published FDA DSCSA Blockchain Pilot Report … Continue Reading

Digital Asset Platforms Evolve, Token Models Confront Complexities, WEF Issues Blockchain Toolkit, Foreign Crypto Crimes Uncovered, AML Solution Launched

By Teresa Goody Guillén, Marc Powers, Jordan R. Silversmith and Joanna F. Wasick on May 1, 2020 Posted in Cryptocurrency, Platforms

In this issue: • Digital Asset Marketplaces Evolve in US, Japan and Switzerland • Blockchain Token Models Confront Legal Complexities in US Filings and Court Cases • WEF Issues Blockchain Toolkit, New Enterprise Solutions Announced • Foreign Police Uncover Crypto Crimes, Analytics Firm Launches AML Solution for Banks • Tether Mints 160 Million USDT as … Continue Reading

Blockchain Developments: Food Supply Chain, Shipping, M&A, Trading Platforms, Regulator Actions, Private Lawsuits, Foreign Laws, Malware, Hacks and More

By Jordan R. Silversmith, Marc Powers, Robert A. Musiala and Joanna F. Wasick on April 10, 2020 Posted in Blockchain, Food Supply Chain

In this issue: • Blockchain Developments in Food Supply Chain, Shipping Data and Project Best Practices • M&A Crypto Report Published, Blockchain Trading Platforms Make Announcements • New Crypto Legal Actions Brought by Federal, State, Private and Foreign Actors • Reports Highlight Crypto Threats to National Security, Banks, Malware and Hacks Blockchain Developments in Food … Continue Reading

Blockchain GS1 Standards Published, Securities Pilots Continue, Tax Agency Seeks Quadriga CX Records, DOJ Cites Crypto in Charging Venezuelan Cartel

By Jordan R. Silversmith, Marc Powers and Joanna F. Wasick on April 3, 2020 Posted in Blockchain, Supply Chain

In this issue: • Blockchain GS1 Standards Published, Supply Chain Pilots Announced Across Industries • Telegram Request Denied, Firms Continue Blockchain Initiatives for Securities Trading • Tax Agency Seeks Quadriga CX Records, DOJ Cites Crypto Use by Venezuelan Cartel Blockchain GS1 Standards Published, Supply Chain Pilots Announced Across Industries By: Jordan R. Silversmith Earlier this … Continue Reading

Ethereum Fork Successful, Solutions Target Sneakers and Browsers, EU and NY Consider Regulations, Enforcement Actions Continue

By Joanna F. Wasick, Marc Powers, Simone O. Otenaike and Veronica Reynolds on December 13, 2019 Posted in Enforcement, ICOs, Securities & Exchange Commission

In this issue: • Ethereum Fork Implemented, Exchanges Expand Services, New Bitcoin Network Data • Enterprise Developments in Sneakers, Browsers, Copyrights and Private-Public Blockchain Integration • EU and NY Consider New Crypto Regulations, AML Report Published and Tools Debut • Enforcement Actions Target ICO Fraud and Ponzi Schemes, Assets Retrieved From Hacked Exchange Ethereum Fork … Continue Reading

Interbank Settlement Initiative and Crypto Payment Solutions Expand, SEC and International Enforcement Actions Continue

By Robert A. Musiala, Marc Powers and Joanna F. Wasick on September 20, 2019 Posted in Cryptocurrency, ICOs, Securities & Exchange Commission

In this issue: • Blockchain Developments in Interbank Settlement, Capital Markets, Cryptocurrency Payments • Multiple SEC Enforcement Actions, New Treasury Sanctions, More Crypto-Mining Malware Detected • International Crypto Developments: Tax, FATF Compliance, Enforcement Actions Blockchain Developments in Interbank Settlement, Capital Markets, Cryptocurrency Payments By: Robert A. Musiala Jr. According to reports this week, a major … Continue Reading

Cryptocurrency and Blockchain Applications Gain Adoption, Enforcement Actions Continue

By Diana Stern, Joanna F. Wasick and Marc Powers on May 31, 2019 Posted in Blockchain, Cryptocurrency

In this issue: • Established Firms Implement Cryptocurrency Payments, Blockchain Tracking and Data Management Systems • Unlicensed Money Transmitter Sentenced, P2P Exchange Retreats From Iran and a Benevolent 51% Attack • SEC Enforcement Actions Continue as New Cryptocurrency-Based Assets Launch Established Firms Implement Cryptocurrency Payments, Blockchain Tracking and Data Management Systems By: Diana J. Stern … Continue Reading

Manipulation Detected on ‘DEXes,’ Regulations Develop, Industry Initiatives Advance, Hacks, Money Laundering and Enforcement Continue

By Joanna F. Wasick, Brian P. Bartish, Diana Stern, Robert A. Musiala and Marc Powers on April 19, 2019 Posted in Blockchain, Cryptocurrency, Enforcement

In this issue: • Academics Detect Manipulation on ‘DEXes’ as Cryptocurrency Trading Expands • New Tokenized Securities Announced; Global Regulatory Regimes Develop • Food Supply Chain Initiatives Grow, Government Spending Expected to Rise, Blockchain Enterprise Tools Released • Crypto-Mining Malware, Dark Market Money Laundering, SIM Swap Hacks and FinCEN Enforcement Academics Detect Manipulation on ‘DEXes’ … Continue Reading

New Cryptocurrencies and Blockchain Reporting Tools, International Developments, and Crypto Crime Reports

By Simone O. Otenaike, Diana Stern and Marc Powers on March 8, 2019 Posted in Blockchain, Cryptocurrency, Enforcement, ICOs

In this Issue: • New Cryptocurrencies Announced, Difficulties Integrating Crypto With Banks Persist • International Market Developments, New Blockchain Reporting Tools Announced • Updates on QuadrigaCX, New Reports on Crypto Crimes From Public and Private Sectors New Cryptocurrencies Announced, Difficulties Integrating Crypto With Banks Persist By: Simone O. Otenaike According to recent reports, a leading … Continue Reading

Blockchain Developments: Government and Transport Sector Solutions, Legislation, Payment Applications and Global Enforcement Actions

By Diana Stern, Simone O. Otenaike, Jonathan D. Blattmachr, Joanna F. Wasick, Marc Powers, Roger M. Brown and Heather K. P. Fincher on December 14, 2018 Posted in Enforcement, Enterprise, Global, Government, Tax

In this issue: • Blockchain Transport Applications, Public Sector Initiatives, Protocol and Market Developments • Capital Markets Initiatives Continue as US Congress Issues New Research and Two New Bills • Blockchain Payments Networks Evolve, New Cryptocurrency Exchange Lands in US • SEC Achieves Settlements, FATF Evaluates UK, Regulator Actions in Denmark and New Zealand • Tax Analysis: Securitized Tokens Backed … Continue Reading

NY BitLicense Approval, Blockchain for Energy Commodities, CFTC Enforcement, Advertising Use Cases and More

By Panida A. Pollawit, Marc Powers, Simone O. Otenaike and John C. McIlwee on November 16, 2018 Posted in Blockchain, Cybersecurity, Enforcement, Enterprise, Securities & Exchange Commission

In this issue: • New BitLicense Approval, Stablecoin Developments and BAT on Coinbase • Blockchain Platform for Energy Commodities Announced in U.S., Restrictions Ease in Foreign Markets • CFTC and State Securities Enforcement, Litigation Developments and Fraud Schemes • More Blockchain Uses for Digital Advertisers, Software Licensees and Marine Insurers New BitLicense Approval, Stablecoin Developments … Continue Reading

Blockchain Developments: Government, Wine, Journalism, Asset-Backed Tokens, SEC Enforcement and More

By Taylor Thompson, Simone O. Otenaike, Robert A. Musiala and Marc Powers on October 12, 2018 Posted in Blockchain, Cryptocurrency, ICOs, Securities & Exchange Commission

In this issue: • U.S. and International Governments Address Smart Ports, Smart Cities, and Cryptocurrencies • Blockchain Enterprise Developments in Wine, Journalism, Real Estate and Mining • Blockchain Tokens Backed by Real-World Assets Appear to Grow in Popularity • SEC Enforcement Actions Announced, New Data on Cryptocurrency Hacks Published U.S. and International Governments Address Smart … Continue Reading

Hard for ICOs to Avoid US Courts: Personal Jurisdiction Found in Two Recent Securities Cases Over Foreign ICO Defendants

By Marc Powers and Jonathan A. Forman on September 27, 2018 Posted in ICOs

Over the past year, the plaintiffs’ bar and Securities and the Exchange Commission (SEC) have brought class and enforcement action proceedings, respectively, against those involved with the issuance and marketing of initial coin offerings (ICOs), including those located outside the United States. The proceedings involving foreign defendants present the interesting and threshold issue in these … Continue Reading

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

By Brian P. Bartish, Jonathan D. Blattmachr, Marc Powers, Jaime B. Petenko and Diana Stern on August 10, 2018 Posted in Bitcoin, Blockchain, Cryptocurrency, Food Supply Chain

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 Perpetuate Uncertainty • Analysis: Tezos Securities Class Action Survives Motion to Dismiss New Solutions Seek to Bring Cryptocurrencies Closer to Mainstream By: Jaime B. Petenko This past … Continue Reading

ICOs Avoiding US Citizens Not Immune To Lawsuits In US

By Marc Powers, Jonathan A. Forman and Tiffany A. Miao on June 6, 2018 Posted in Securities & Exchange Commission

Last summer, the Securities and Exchange Commission (SEC) issued its 21(a) report concluding that, according to the U.S. Supreme Court decision in SEC v. W.J. Howey Co., the DAO token qualified as a “security” under the federal securities laws and thus, its offering had to either be registered with the SEC or subject to a … Continue Reading