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Cryptocurrency › Rescission

Jones Day

FDIC Rescinds Prior Notification Requirement for Banks' Permissible Crypto Activities

Jones Day on

The FDIC has rescinded an earlier Financial Institution Letter establishing a prior notification requirement for FDIC-supervised institutions that wish to engage in specified crypto-related activities and has clarified that...more

Morrison & Foerster LLP

FinReg Currents - Week 1

Morrison & Foerster LLP on

On January 20, 2025, President Trump issued a Regulatory Freeze Pending Review (“Regulatory Freeze”) that applies to all executive departments and agencies. The Regulatory Freeze prohibits the proposal or issuance of any rule...more

A&O Shearman

Southern District Of New York Dismisses Claims Against Cryptocurrency Platform Seeking To Hold It Liable Under The Securities Laws...

A&O Shearman on

On August 29, 2023, Judge Katherine Polk Failla of the United States District Court for the Southern District of New York dismissed with prejudice a putative class action against a decentralized cryptocurrency trading...more

Farrell Fritz, P.C.

What to Make of SEC Leniency in Block.one ICO Settlement?

Farrell Fritz, P.C. on

On September 30, 2019, the Securities and Exchange Commission announced that blockchain developer Block.one had agreed to pay a $24 million fine to settle charges that it had engaged in an unregistered offering of securities...more

Allen Matkins

Rescinding Initial Coin Offerings Under California Law

Allen Matkins on

John Jenkins at the The Mentor Blog wrote this morning about the Securities and Exchange Commission's relaxed approach to remedying unregistered initial coin offerings (aka ICOs). According to John, the SEC is allowing an...more

A&O Shearman

ICO Issuers Settle With The SEC Over Unregistered Coin Offerings

A&O Shearman on

On November 16, 2018, the U.S. Securities and Exchange Commission (“SEC”) instituted separate settled administrative proceedings against Carrier EQ Inc., d/b/a AirFox (“AirFox”) and Paragon Coin Inc. (“Paragon”) for failing...more

Sheppard Mullin Richter & Hampton LLP

Airdrop of Crypto Tokens Hits Regulatory Flak

Sheppard Mullin Richter & Hampton LLP on

On August 14, 2018, the U.S Securities and Exchange Commission (“SEC”) issued a cease and desist order (the “Tomahawk Order”) against Tomahawk Exploration LLC (“Tomahawk”) and David Thompson Laurance (“Laurance”) for their...more

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