Throughout a tumultuous 2022, the digital currency and blockchain space saw a number of significant investigation, litigation, and enforcement matters as regulators continue their laser focus on the industry. This Year in...more
2/14/2023
/ Bankruptcy Court ,
Blockchain ,
Crypto Exchanges ,
Cryptocurrency ,
Department of Justice (DOJ) ,
Digital Assets ,
Enforcement Actions ,
Insider Trading ,
Non-Fungible Tokens (NFTs) ,
Popular ,
Stablecoins ,
Unregistered Securities
In a first of its kind enforcement action, the Commodity Futures Trading Commission (“CFTC”) is attempting to hold participating members of a decentralized autonomous organization (“DAO”) liable for alleged violations of the...more
10/5/2022
/ Anti-Money Laundering ,
CFTC ,
Commodity Exchange Act (CEA) ,
Criminal Liability ,
Decentralized Finance (DeFi) ,
Digital Assets ,
Enforcement Actions ,
Futures Commission Merchants (FCMs) ,
Illegal Trading ,
Market Participants ,
Registration Requirement ,
Retail Investors ,
Swap Execution Facilities
On July 21, 2022, the SEC charged three individuals with insider trading of digital assets via a scheme to trade ahead of multiple announcements regarding crypto assets being made available on a United States-based digital...more
7/25/2022
/ Criminal Conspiracy ,
Crypto Exchanges ,
Cryptoassets ,
Department of Justice (DOJ) ,
Digital Assets ,
Enforcement Actions ,
Howey ,
Indictments ,
Material Nonpublic Information ,
Securities ,
Securities and Exchange Commission (SEC) ,
Wire Fraud
District Court Denies Payday Lender's Bid To Dismiss SEC Enforcement Action; Delaware Chancery Court Dismisses Camping World Insider Trading Derivative Suit; California Federal Judge Certifies Class Of Apple Common-Stock...more
3/14/2022
/ Apple ,
Cease and Desist Orders ,
Class Certification ,
Common Stock ,
Cryptocurrency ,
Derivative Suit ,
Dismissals ,
Enforcement Actions ,
Fines ,
Insider Trading ,
Investment Company Act of 1940 ,
Investors ,
iPhone ,
Lenders ,
Misleading Statements ,
Misrepresentation ,
Payday Loans ,
Penalties ,
Promissory Notes ,
Proposed Amendments ,
Publicly-Traded Companies ,
Registration Requirement ,
Securities Act of 1933 ,
Securities and Exchange Commission (SEC) ,
Securities Exchange Act ,
Securities Transactions ,
Securities Violations ,
Stock Options ,
Whistleblower Awards ,
Whistleblowers
IN THIS ISSUE -
Eleventh Circuit Overturns Dismissal of Cryptocurrency Ponzi Scheme Class Action Suit; Federal Court of Appeals Dismisses Leading Fannie Mae and Freddie Mac Shareholder Lawsuits; NY Seeks Blockchain...more
3/9/2022
/ Appeals ,
Attorney's Fees ,
Banking Sector ,
Blockchain ,
Breach of Duty ,
Cannabis-Related Businesses (CRBs) ,
Civil Conspiracy ,
Class Action ,
Cryptocurrency ,
Department of Financial Services ,
Derivative Suit ,
Dismissals ,
Economic Sanctions ,
Enforcement Actions ,
Fannie Mae ,
Fiduciary Duty ,
Financial Services Industry ,
Freddie Mac ,
Investors ,
Mergers ,
Mootness Fee Applications ,
Ponzi Scheme ,
Popular ,
Reversal ,
Russia ,
Securities Act of 1933 ,
Securities and Exchange Commission (SEC) ,
Securities Exchange Act ,
Securities Fraud ,
Securities Litigation ,
Shareholder Litigation ,
Shareholders ,
Supplemental Disclosures ,
Tortious Interference ,
Virtual Currency
The U.S. Securities & Exchange Commission (“SEC”) filed a complaint against Ripple Labs, Inc. (“Ripple”) and two of its executives, Brad Garlinghouse and Chris Larsen, on December 22, 2020 in the U.S. District Court for the...more
1/26/2021
/ Blockchain ,
Corporate Executives ,
Cryptocurrency ,
Digital Assets ,
Enforcement Actions ,
Popular ,
Ripple ,
Section 5 ,
Securities Act of 1933 ,
Securities and Exchange Commission (SEC) ,
Securities Violations ,
Unregistered Securities
The SEC, in one of the Commission’s final acts under the leadership of Chair Jay Clayton, approved enforcement action aimed at Ripple Labs, Inc. (“Ripple”) and two of its executives, Brad Garlinghouse and Chris Larsen. The...more
In a recent decision in Securities and Exchange Commission v. Telegram Group Inc. and TON Issuer Inc., the United States District Court for the Southern District of New York granted a motion for a preliminary injunction by...more
On February 20, 2019, the Enforcement Division of the U.S. Securities and Exchange Commission (“SEC”) issued an Order Instituting Cease-And-Desist Proceedings Pursuant To Section 8a Of The Securities Act Of 1933, Making...more
In the wake of the SEC’s clarifying guidance in Munchee regarding the application of the federal securities laws to initial coin offerings (“ICOs”), there has been increased activity among both federal and state regulators as...more