The U.S. Department of the Treasury issued a Request for Comment required by the Guiding and Establishing National Innovation for U.S. Stablecoins Act, or the GENIUS Act, which furthers the Trump Administration’s policy of...more
The SEC looked favorably on designated crypto mining activities by stating that such activities are not securities. Specifically, the SEC addressed “proof-of-work” activities. According to the SEC, Proof-of-work (“PoW”) is a...more
The Southern District of New York granted the SEC’s request for a preliminary injunction halting a coin offering in Securities and Exchange Commission v. Telegram Group Inc. et al....more
3/31/2020
/ Blockchain ,
Cryptocurrency ,
Howey ,
Initial Coin Offering (ICOs) ,
Investment Opportunities ,
Offerings ,
Preliminary Injunctions ,
Publicly-Traded Companies ,
Securities and Exchange Commission (SEC) ,
Securities Violations ,
Token Sales ,
Unregistered Securities
The SEC is conducting market research to determine the availability and technical capability of large and small businesses to provide blockchain data to support the SEC’s efforts to monitor risk, improve compliance, and...more
SEC Chair Clayton delivered the following remarks at a conference of securities professionals:
“My first message is simple and a bit stern. Market professionals, especially gatekeepers, need to act responsibly and hold...more
1/23/2018
/ Blockchain ,
Digital Currency ,
Distributed Ledger Technology (DLT) ,
Financial Markets ,
Initial Coin Offering (ICOs) ,
Regulatory Oversight ,
Securities and Exchange Commission (SEC) ,
Securities Violations ,
Token Sales ,
Unregistered Securities ,
Virtual Currency ,
Young Lawyers
Munchee Inc., a California-based company selling digital tokens to investors to raise capital for its blockchain-based food review service halted its initial coin offering (ICO) after being contacted by the SEC. Munchee Inc....more
12/12/2017
/ Blockchain ,
Capital Raising ,
Digital Currency ,
Distributed Ledger Technology (DLT) ,
Enforcement Actions ,
Financial Markets ,
Initial Coin Offering (ICOs) ,
Popular ,
Securities and Exchange Commission (SEC) ,
Securities Violations ,
Token Sales ,
Unregistered Securities ,
Virtual Currency
Given the SEC’s investigative report on initial coin offerings, I thought it would be interesting to review a small sample to see what else is really out there. I turned to coinmarketcap.com for information. In many cases the...more
The SEC issued an investigative report cautioning market participants that offers and sales of digital assets by “virtual” organizations are subject to the requirements of the federal securities laws. Such offers and sales,...more
The Corporate Council of The Corporation Law Section of the Delaware State Bar Association has prepared proposed amendments to the Delaware General Corporation Law to facilitate the use of block chain technology for...more
Blockchain shows great promise for certain applications in the financial services industry, including securities clearance and settlement. Given all of the recent publicity, one has to consider the Gartner “hype cycle.” Some...more
Nasdaq and the Republic of Estonia have announced that Estonia’s e-Residency platform will be facilitating a blockchain-based e-voting service to allow shareholders of companies listed on Nasdaq’s Tallinn Stock Exchange,...more
The Depository Trust & Clearing Corporation, or DTCC, is integrally involved with settlement of trades in public company stocks. It has issued a white paper examining the use of blockchain technology to settle securities...more
Overstock.com has filed this Form S-3 which proposes to sell securities using Bitcoin blockchain technology. The S-3 has not yet been declared effective.
First question: What the heck in blockchain technology? CFTC...more