On September 22, 2022, the Commodity Futures Trading Commission (CFTC or Commission) (1) issued an order settling charges against protocol creator bZeroX, LLC and its founders, and (2) filed a federal civil enforcement action...more
Takeaways Many businesses are exploring NFTs as a way to capitalize on intellectual property and reinforce relationships with fans and customers. Those weighing whether to “mint” NFTs need to look closely at existing...more
A flurry of legal and enforcement activity has arisen over the last two weeks across a wide range of areas in the Web3 space, including actions by the Securities and Exchange Commission, the Office of Foreign Assets Control,...more
8/25/2022
/ Bitcoin ,
Blockchain ,
CFTC ,
Cryptocurrency ,
Digital Assets ,
Digital Currency ,
Distributed Ledger Technology (DLT) ,
FDIC ,
Federal Trade Commission (FTC) ,
Financial Markets ,
FinTech ,
OCC ,
Office of Foreign Assets Control (OFAC) ,
Popular ,
Regulatory Oversight ,
Securities and Exchange Commission (SEC) ,
Smart Contracts ,
Virtual Currency
Recent guidance from the New York State Department of Financial Services (DFS) and a proposed bill in the U.S. Senate portend more regulatory and legislative activity to clarify the status of and requirements for stablecoin...more
The Web3 community has long expressed frustration at the lack of clarity emanating from the SEC regarding the treatment of cryptocurrencies and other digital assets under current securities laws, with many characterizing the...more
The first 100 days of the Biden administration has coincided with a watershed period in the evolution of blockchain technology and cryptocurrencies. The price of Bitcoin has risen dramatically during that period, triggering...more
This issue discusses a variety of legal, regulatory and enforcement developments in the digital asset space in the U.S. and Europe....more
4/19/2021
/ Bitcoin ,
Blockchain ,
CFTC ,
Cryptocurrency ,
Department of Justice (DOJ) ,
Digital Assets ,
Distributed Ledger Technology (DLT) ,
Enforcement Actions ,
Ethereum ,
FinCEN ,
Initial Coin Offering (ICOs) ,
Investment Adviser ,
Non-Fungible Tokens (NFTs) ,
Securities and Exchange Commission (SEC) ,
Smart Contracts ,
Virtual Currency
Recent and significant regulatory and legislative events in the digital asset space demonstrate the evolving and expanding approach by U.S. and international regulators to the burgeoning digital asset markets. These...more
10/31/2020
/ Banks ,
Blockchain ,
CFTC ,
Civil Monetary Penalty ,
Consent Order ,
Cryptocurrency ,
Department of Justice (DOJ) ,
Derivatives ,
Digital Assets ,
Distributed Ledger Technology (DLT) ,
Enforcement Actions ,
FinCEN ,
Global Market ,
Initial Coin Offering (ICOs) ,
Legislative Agendas ,
OCC ,
OECD ,
Offshore Listings ,
Regulatory Oversight ,
Restricted Transactions ,
Securities and Exchange Commission (SEC) ,
Securities Tokens ,
Smart Contracts ,
Stablecoins ,
Summary Judgment ,
Taxation ,
UK ,
Virtual Currency
In this issue, we discuss the new initiatives under New York's BitLicense regime that clarify and streamline the regulatory landscape for virtual currency entities doing business within the state. We also examine the...more
8/4/2020
/ Advanced Notice of Proposed Rulemaking (ANPRM) ,
Bitcoin ,
BitLicense ,
Blockchain ,
Constitutional Challenges ,
Cryptocurrency ,
Digital Assets ,
Digital Ledger Technology ,
Distributed Ledger Technology (DLT) ,
Federal Savings Associations ,
Fourth Amendment ,
Governor Beshear ,
Listing Rules ,
National Bank Act ,
NYDFS ,
OCC ,
Popular ,
Reasonable Expectation of Privacy ,
Right to Privacy ,
Search & Seizure ,
Smart Contracts ,
State and Local Government ,
Virtual Currency ,
Working Groups
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, 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 is the second edition of The Distributed Ledger, a periodic publication covering the latest trends and developments in blockchain technology, digital assets and smart contracts. In this issue, we examine the SEC’s new...more
11/8/2018
/ Anti-Money Laundering ,
Blockchain ,
CFTC ,
CNIL ,
Commodity Exchange Act (CEA) ,
Cross-Border Transactions ,
Data Controller ,
Data Processors ,
Digital Assets ,
EU ,
FATF ,
FinHub ,
FinTech ,
Initial Coin Offering (ICOs) ,
International Data Transfers ,
Personally Identifiable Information ,
Popular ,
Regulatory Agenda ,
Securities and Exchange Commission (SEC) ,
Smart Contracts ,
Startups ,
Terrorist Financing Regulations ,
Virtual Currency
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