In 2019, regulators continued to consider whether and how to regulate blockchain technology. After the two previous years that included a high number of initial coin offerings (ICOs), many of which involved allegedly...more
1/21/2020
/ BitLicense ,
Blockchain ,
Cross-Border Transactions ,
Cryptocurrency ,
Digital Securities ,
Disgorgement ,
Enforcement Actions ,
EU ,
Financial Stability Board ,
FinHub ,
Fraud ,
General Data Protection Regulation (GDPR) ,
Initial Coin Offering (ICOs) ,
NYDFS ,
Popular ,
Regulatory Agencies ,
Securities Act of 1933 ,
Securities and Exchange Commission (SEC) ,
Securities Exchange Act ,
Securities Violations ,
Settlement Negotiations ,
Stablecoins ,
Supervisory Guidance ,
Technology Sector ,
Virtual Currency
In this issue of The Distributed Ledger, we discuss the IRS' warning letters for over 10,000 cryptocurrency holders, the SEC's settlement with a blockchain company regarding unregistered ICO transactions, and a European...more
9/23/2019
/ Blockchain ,
Crypto Exchanges ,
Cryptocurrency ,
Data Controller ,
Data Processors ,
Digital Assets ,
Distributed Ledger Technology (DLT) ,
Ethereum ,
FinHub ,
Gaming ,
General Data Protection Regulation (GDPR) ,
Initial Coin Offering (ICOs) ,
Initial Public Offering (IPO) ,
IRS ,
No-Action Letters ,
Personal Information ,
Popular ,
Securities and Exchange Commission (SEC) ,
Securities Regulation ,
Settlement Agreements ,
Simple Agreement for Future Tokens (SAFT) ,
Smart Contracts ,
Startups ,
Unregistered Securities ,
Warning Letters
On April 24, 2019, Skadden hosted a webinar titled “The Current State of Cryptocurrency Enforcement and Securities Litigation.” The presented topics largely focused on the SEC’s evolving regulatory approach to cryptocurrency...more
4/30/2019
/ Blockchain ,
Corporate Counsel ,
Cryptocurrency ,
Digital Assets ,
Enforcement Actions ,
FinHub ,
Howey ,
Initial Coin Offering (ICOs) ,
No-Action Letters ,
Popular ,
Proposed Legislation ,
Securities ,
Securities and Exchange Commission (SEC) ,
Securities Exchange Act ,
Securities Tokens ,
Settlement Agreements
In this issue, we examine the release of the much-anticipated Strategic Hub for Innovation and Financial Technology (FinHub) guidance for analyzing how U.S. federal securities laws apply to initial coin offerings, the...more
4/16/2019
/ Advertising ,
Blockchain ,
California Consumer Privacy Act (CCPA) ,
CNIL ,
Cryptocurrency ,
Default ,
Digital Assets ,
Discovery ,
Distributed Ledger Technology (DLT) ,
Division of Corporate Finance ,
Ethereum ,
EU ,
FinHub ,
France ,
Frozen Assets ,
General Data Protection Regulation (GDPR) ,
Guilty Pleas ,
Initial Coin Offering (ICOs) ,
Investment Contract ,
Motion to Dismiss ,
No-Action Letters ,
NYDFS ,
Offerings ,
Payment Tokens ,
Personal Jurisdiction ,
Plea Agreements ,
Popular ,
Preliminary Injunctions ,
Profits ,
Public Comment ,
Putative Class Actions ,
Safe Harbors ,
Securities ,
Securities and Exchange Commission (SEC) ,
Securities Exchange Act ,
Securities Fraud ,
Securities Tokens ,
Securities Violations ,
Settlement ,
Smart Contracts ,
Unregistered Securities ,
Virtual Currency
This quarter’s issue includes summaries and associated court opinions of selected cases principally decided between December 2018 and February 2019....more
3/14/2019
/ Appeals ,
Article III ,
Class Action ,
Cryptocurrency ,
Fiduciary Duty ,
Investment Opportunities ,
Loss Causation ,
Mutual Funds ,
Nutraceutical Corp v Lambert ,
Omnicare v Laborers District Council ,
Pleading Standards ,
Ponzi Scheme ,
Popular ,
PSLRA ,
SCOTUS ,
Securities and Exchange Commission (SEC) ,
Securities Exchange Act ,
Securities Fraud ,
SLUSA ,
Standing
In 2018, the number of blockchain-enabled projects increased sharply as established companies sought to apply distributed ledger technology to their existing business models and startups developed new and disruptive models...more
1/18/2019
/ AML/CFT ,
Blockchain ,
CFTC ,
Commodity Exchange Act (CEA) ,
Cryptocurrency ,
Derivatives ,
Distributed Ledger Technology (DLT) ,
EU ,
FinCEN ,
FinHub ,
General Data Protection Regulation (GDPR) ,
Initial Coin Offering (ICOs) ,
Popular ,
Proposed Legislation ,
Securities and Exchange Commission (SEC) ,
Token Sales ,
Unregistered Securities
This is the inaugural issue of The Distributed Ledger, a periodic publication covering the latest trends and developments in blockchain technology, digital assets and smart contracts. In this edition, we examine a federal...more
10/16/2018
/ Anti-Fraud Provisions ,
Blockchain ,
CFTC ,
Commodities ,
Commodity Exchange Act (CEA) ,
Conflicts of Interest ,
Consumer Protection Laws ,
Corporate Counsel ,
Cryptocurrency ,
Digital Assets ,
Distributed Ledger Technology (DLT) ,
Exclusive Jurisdiction ,
Fraud ,
Misappropriation ,
NYDFS ,
Popular ,
Research and Development ,
Smart Contracts ,
State Attorneys General ,
State Legislatures ,
Trade Market Abuse ,
Trading Platforms ,
Virtual Currency ,
Young Lawyers
On September 11, 2018, Judge Raymond J. Dearie of the U.S. District Court for the Eastern District of New York issued a new decision in U.S. v. Zaslavskiy, No. 1:17-cr-00647-RJD-RER, Dkt. No. 37 (E.D.N.Y. Sept. 11, 2018),...more
9/21/2018
/ Constitutional Challenges ,
Criminal Procedure ,
Criminal Prosecution ,
Cryptocurrency ,
Howey ,
Indictments ,
Initial Coin Offering (ICOs) ,
Motion to Dismiss ,
Notice Requirements ,
Question of Fact ,
Sales of Securities ,
Securities Fraud ,
Vagueness
The market for cryptocurrencies and the current wave of initial coin offerings (ICOs) that seek to raise capital for blockchain-based projects have enjoyed a swell of popularity in recent years. U.S. regulatory agencies and...more
6/20/2018
/ Blockchain ,
Breach of Contract ,
CFTC ,
Commodities ,
Cryptocurrency ,
Digital Currency ,
Enforcement Actions ,
Initial Coin Offering (ICOs) ,
Investment Contract ,
Popular ,
Rule 10(b) ,
Securities ,
Securities and Exchange Commission (SEC) ,
Securities Exchange Act ,
Token Sales ,
Unjust Enrichment ,
Unregistered Securities