Archives: Securities & Exchange Commission

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Token Litigation Cases Reach Milestones, Stablecoins and CBDCs Gain Attention, CFTC Approves Guidelines for ‘Actual Delivery’ of Virtual Currency

In this issue: • Telegram, Kik and Tezos Cases Reach Milestones in Blockchain Token Litigation • Stablecoins and Central Bank Digital Currencies Gain Attention • CFTC Approves Guidelines for Delivery of Virtual Currencies, Web Browser Integrates Cryptocurrency Trading Telegram, Kik and Tezos Cases Reach Milestones in Blockchain Token Litigation By Teresa Goody Guillén and Robert … Continue Reading

New US Exchange Launches, India Court Rules in Favor of Crypto Exchanges, OFAC Adds 20 Bitcoin Addresses, DOJ Charges Chinese Nationals for Crypto Money Laundering

By Robert A. Musiala, Veronica Reynolds, Jordan R. Silversmith and Teresa Goody Guillén on March 6, 2020 Posted in Bitcoin, ICOs, Securities & Exchange Commission

In this issue: • Exchanges Expand in US and Gibraltar; India Supreme Court Ruling Favors Industry • Crypto Custody Report Published, Power Plant Installs Mining Operation • 20 Bitcoin Addresses Added to OFAC List, DOJ Charges Detail $100 Million Crypto Hack • SEC Charges Actor Steven Seagal With Unlawful Touting of a Digital Asset Offering … Continue Reading

Making Sense of the Telegram Case

By Teresa Goody Guillén, Robert A. Musiala and Veronica Reynolds on February 27, 2020 Posted in Blockchain, Securities & Exchange Commission

Multiple Parties Weigh In as the Courts Consider Whether a Blockchain Token Is a Security Overview of the Telegram Case Telegram, a global messaging platform, was founded by Russian brothers Nikolai and Pavel Durov in 2013.[1] The platform is popular among cryptocurrency enthusiasts because of its libertarian roots, emphasis on privacy[2] and its group-chat feature, … Continue Reading

Blockchain 50 Published, Exchanges Expand Services, Enforcement Actions by SEC, CFTC and International Tax Authorities, Hacks Drive Losses

By Joanna F. Wasick, Jordan R. Silversmith and Brian P. Bartish on February 21, 2020 Posted in Enforcement, ICOs, Securities & Exchange Commission

In this issue: • Forbes Publishes Blockchain 50, Cryptocurrency Exchanges Expand Services • SEC Settles Charges Involving ICO, CFTC Takes Action Against Crypto Investment Firm • Dutch Tax Authorities Make Arrests, IRS Summit to Address Cryptocurrencies • Manipulation, Hacks and System Errors Lead to Losses for Cryptocurrency Users and Exchanges Forbes Publishes Blockchain 50, Cryptocurrency … Continue Reading

SEC Commissioner Peirce Unveils ‘Token Safe Harbor Proposal’

By Teresa Goody Guillén and Robert A. Musiala on February 13, 2020 Posted in Securities & Exchange Commission

On Feb. 6, during a speech at the International Blockchain Congress in Chicago, SEC Commissioner Hester M. Peirce unveiled a proposed “safe harbor” that would seek to provide an exemption from the registration requirements of the federal securities laws for blockchain tokens that meet certain criteria. Before discussing the details of her proposed safe harbor, … Continue Reading

Foreign Regulators Issue Approvals and Guidance, SEC Enforcement Continues, Blockchain Trade Groups File Amicus Briefs, Reports Detail Terrorist Financing Risks

By Veronica Reynolds, Joanna F. Wasick, Teresa Goody Guillén and Simone O. Otenaike on January 24, 2020 Posted in Blockchain, ICOs, Securities & Exchange Commission

In this issue: • New Approvals From European and Thai Regulators, Canada and WEF Publish Guidance • SEC Targets ICOs, IRS Updates Crypto FAQs, UK Tax Agency Seeks Blockchain Analytics Tool • Chamber of Digital Commerce and Blockchain Association Weigh In on SEC v. Telegram • Reports Address Cryptocurrency Terrorist Financing Risks New Approvals From … Continue Reading

Blockchain Solutions Announced Across Industries, Crypto Threat Warnings Announced Across Agencies

By Jordan R. Silversmith and Veronica Reynolds on January 17, 2020 Posted in Food Supply Chain, ICOs, Securities & Exchange Commission

In this issue: • Blockchain Developments in Olive Oil, Shipping, Media and Real Estate • Warnings on SIM Swapping and IEOs, New Research on Crypto Money Laundering Blockchain Developments in Olive Oil, Shipping, Media and Real Estate By: Jordan R. Silversmith On Jan. 14, one of the largest producers of olive oil in the Mediterranean … 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

Invoices Paid on Ethereum, FINRA Application Approved, SEC/ICO Enforcement, Industry Launches Compliance Initiative

By Robert A. Musiala, Brian P. Bartish, Veronica Reynolds and Jonathan D. Blattmachr on October 4, 2019 Posted in ICOs, Securities & Exchange Commission

In this issue: • Smart Contracts Deployed by Icelandic Retailer, Blockchain for Sneakers and DHS • Cryptocurrency Service Providers Target Mainstream Investors, FINRA Application Approved • SEC, DOJ and State Agency Enforcement Actions for ICOs and Crypto Fraud Schemes • Regulatory Problems and Solutions in the Cryptocurrency and Digital Asset Arena Smart Contracts Deployed by … Continue Reading

Blockchain Announcements in Supply Chain, Genomics, IoT, Trade Finance and Bitcoin Futures; More SEC ICO Enforcement

By Diana Stern, Simone O. Otenaike, Panida A. Pollawit and Joanna F. Wasick on September 27, 2019 Posted in Banking, Blockchain, Cryptocurrency, Enforcement, Securities & Exchange Commission

In this issue: • From Cattle to Coffee to Cannabis: Enterprises Continue to Test Blockchain Supply Chain Solutions • Enterprise Report Published, New Pilots Announced for Copyright, Genomics and IoT • Financial Institutions Continue Blockchain Pilots, Physical Bitcoin Futures Launch • SEC Brings Charges for ICO Fraud, DOJ Indicts Hackers, Regulatory Reports Published From Cattle … 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

Blockchain Developments: Energy Grids, Automobiles, Stablecoins, International Regulations, SEC Enforcement

By Simone O. Otenaike, Jonathan D. Blattmachr, Robert A. Musiala and Joanna F. Wasick on September 6, 2019 Posted in Blockchain, ICOs, Securities & Exchange Commission

In this issue: • Blockchain Developments for Energy Grids, Automobiles, Enterprise Protocols • International Developments in Blockchain and Cryptocurrency Regulation • NY DFS Approves Gold-Backed Stablecoin, Financial Institutions Pursue Blockchain Pilots • SEC Settles Charges, Treasury Hears Testimony, Cryptojacking Report Released Blockchain Developments for Energy Grids, Automobiles, Enterprise Protocols By: Simone O. Otenaike Earlier this … Continue Reading

ICO Enforcement Actions, Applications for Wine and Web Browsers, AML Analyses

By Robert A. Musiala and Simone O. Otenaike on August 16, 2019 Posted in Blockchain, ICOs, Securities & Exchange Commission

In this issue: • Multiple ICO Enforcement Actions by SEC and State Regulators • Blockchain Applications for Enterprise Networks, Wine, Web Browsers and Drones • Blockchain Analytics Firms Publish Reports, Details Emerge on North Korea Investigation Multiple ICO Enforcement Actions by SEC and State Regulators By: Robert A. Musiala Jr. This week the U.S. Securities … Continue Reading

SEC Issues No Action Letter, Pilots Announced Across Industries, U.S. Enforcement Agencies Remain Active

By Robert A. Musiala, Simone O. Otenaike and Joanna F. Wasick on July 26, 2019 Posted in Blockchain, Capital Markets Offerings, Global, Securities & Exchange Commission

In this issue: • SEC Issues No-Action Letter, Financial Services Firms and Major Exchanges Make Moves, New Products Launched in Europe • New Pilots Announced for Voting, Autonomous Vehicles and Digital • Multiple U.S. Enforcement Actions Target Cryptocurrency Crimes SEC Issues No-Action Letter, Financial Services Firms and Major Exchanges Make Moves, New Products Launched in … Continue Reading

Bitcoin Spikes, SEC Issues Token Guidance, Exchange is Hacked, and More

By Panida A. Pollawit, Jordan R. Silversmith, Joanna F. Wasick and Simone O. Otenaike on April 5, 2019 Posted in Bitcoin, Blockchain, Cryptocurrency, Securities & Exchange Commission

In this issue: • Paying with Crypto: Where to Use Your Crypto and the Recent Surge in its Value • SEC Issues Digital Assets Guidance, Blockchain Regulations Evolve in U.S. and Abroad • South Korean Exchange is Hacked, Canadian Law Enforcement Takes Action, Sanctioned States Continue Cryptocurrency Use • Blockchain Developments for Telecoms, Food Supply … 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

SEC Launches FinHub, FATF Publishes Guidance, Futures and Stablecoin Markets Mature

By Taylor Thompson, Jonathan D. Blattmachr and Joanna F. Wasick on October 26, 2018 Posted in Capital Markets Offerings, ICOs, Securities & Exchange Commission

In this issue: • SEC Launches FinHub, FATF Revises Cryptocurrency Guidance • Capital Markets Developments in Futures, Stablecoins, Custody, ICOs • Blockchain Enterprise Developments for Gold, Ports, BaaS and Developers SEC Launches FinHub, FATF Revises Cryptocurrency Guidance By: Taylor Thompson On Oct. 18, the Securities and Exchange Commission (SEC) announced the creation of the Strategic … 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

Stablecoins Launch in US Amid Multiple Securities Enforcement Actions and Bid to Repurpose DoD Data Center for Cryptocurrency Mining

By Brian P. Bartish, Robert A. Musiala, Njeri Chasseau, Jaime B. Petenko and Melonia A. Bennett on September 14, 2018 Posted in Blockchain, Cryptocurrency, ICOs, Securities & Exchange Commission

In this issue: • Stablecoins Launch in US as New Data Cites Drop in ICO Funding • SEC and FINRA Issue First-of-Their-Kind Enforcement Actions • Blockchain Enterprise Developments: Mining, Digital Identities and Food Supply Chain • Cryptocurrencies Continue to Enter Traditional Areas of Financial Crimes Stablecoins Launch in US as New Data Cites Drop in … Continue Reading

U.S. Customs Pilots Blockchain, SEC Rejects Bitcoin ETFs, Government Investments and Enforcement Actions Continue

By John C. McIlwee, Jaime B. Petenko, Joanna F. Wasick and Simone O. Otenaike on August 24, 2018 Posted in Blockchain, Securities & Exchange Commission

In this issue: • U.S. Customs Pilots Blockchain for Supply Chain as Private Sector Pilots Continue • The SEC Rejects Bitcoin ETFs; New Exchanges and Services Announced Abroad • Governments Worldwide Continue to Invest in Blockchain Projects • Enforcement Actions Continue in U.S. and Abroad as Industry Begins to Self-Regulate U.S. Customs Pilots Blockchain for … 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

SEC Investigations in the Cryptocurrency and Blockchain Industry

By Jonathan D. Blattmachr on April 23, 2018 Posted in Blockchain, Cryptocurrency, Securities & Exchange Commission

In the latest in a seemingly endless stream of U.S. Securities & Exchange Commission (SEC or the Commission) pronouncements on cryptocurrency and blockchain regulation and enforcement, on March 7, 2018, the Commission warned investors about investing in “potentially unlawful” digital tokens that function like securities, and stated that some platforms are assets that may be … Continue Reading