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Enforcement Actions Investment Contract Securities Regulation

DLA Piper

SEC Staff Concludes Protocol Staking Activities on Proof-of-Stake Networks Are Not Securities

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On May 29, 2025, the Division of Corporation Finance of the US Securities and Exchange Commission (SEC) issued a statement clarifying its views on the application of federal securities laws to certain proof-of-stake (PoS)...more

Katten Muchin Rosenman LLP

SEC Staff Green Lights Various Staking Activities

The Securities and Exchange Commission’s (SEC) Division of Corporation Finance released a statement articulating its position that certain cryptocurrency staking activities fall outside the federal securities laws. This...more

Morrison & Foerster LLP

U.S. SEC Issues Statement on Stablecoins

On April 4, 2025, the staff of the U.S. Securities and Exchange Commission (SEC or “Commission”) Division of Corporation Finance (“Staff”) issued a statement on stablecoins (the “Stablecoin Statement”), outlining the Staff’s...more

Wilson Sonsini Goodrich & Rosati

Corporation Finance Issues Two Unusual Statements Regarding Regulation of Digital Assets

The Division of Corporation Finance (Division) of the Securities and Exchange Commission (SEC) recently issued two statements regarding whether certain tokens, or arrangements involving tokens, constitute “investment...more

The Volkov Law Group

TradeStation Settles Securities Violations Stemming From its Crypto Yield Product

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On February 7, 2024, the U.S. Securities and Exchange Commission (“SEC”) announced charges and a related cease-and-desist order (the “Order”) against TradeStation Crypto, Inc. (“TradeStation”) for failing to register the...more

Farrell Fritz, P.C.

SEC’s First Two NFT Enforcement Actions Cast Shadow of Ambiguity

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The Securities and Exchange Commission recently brought its first two enforcement actions against issuers of non-fungible tokens (NFTs), resulting in cease-and-desist orders, penalties and other remedies, finding that the...more

Jones Day

SEC Brings Its First Enforcement Action Against Non-Fungible Token Sellers

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Two SEC commissioners dissented and urged the Commission to provide further guidance on non-fungible tokens ("NFTs")....more

Mayer Brown Free Writings + Perspectives

For the First Time, the US SEC Sanctions an NFT Issuer for Selling Unregistered Securities in SEC v. Impact Theory

In a published settlement of the charges on August 28, 2023, the US Securities and Exchange Commission (“SEC”) stated that non-fungible tokens (“NFTs”) issued by Impact Theory, LLC (“Impact”) were “securities” under US...more

Ballard Spahr LLP

SEC Finds NFT to Be a Security in Landmark Action

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Summary - The SEC’s focus on the crypto industry expanded this week to include non-fungible tokens (NFTs). In its first NFT-enforcement action, the SEC settled with Impact Theory, a media and entertainment company, over...more

Jones Day

Ripple and Terraform Labs: Two New York District Courts Address the Status of Certain Crypto Assets as Securities

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In Short - The Situation: Recently, two judges in Southern District of New York were required to apply the Howey test in separate cases to decide whether sales of certain crypto assets were investment contracts, and thus...more

Jenner & Block

Client Alert: Ripple, and Terra, and Coinbase, Oh My!

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Three federal judges in the Southern District of New York sit at the center of the long-running battle between the SEC and the crypto industry, overseeing cases that may eventually bring clarity to the industry. After two...more

Nelson Mullins Riley & Scarborough LLP

Clash of the Titans: SEC Sues Genesis and Gemini for Digital Asset Offerings

Like Zeus unleashing the Kraken in Clash of the Titans, the U.S. Securities and Exchange Commission (SEC) has unleashed the Kraken (not the digital asset company) to unleash havoc on Genesis Global Capital LLC (Genesis) and...more

Polsinelli

Shhhh! – SEC Wins Summary Judgment Over Library

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While the blockchain crypto community is processing the latest round of “crypto contagion,” potentially lost in the busy news week was a significant legal development regarding what digital assets qualify as securities under...more

Kohrman Jackson & Krantz LLP

The Sec Had No Love For Blockfi This Valentine’s Day

The Securities and Exchange Commission (SEC) has not hesitated to conclude that crypto assets are securities subject to the Securities Act of 1933, but with BlockFi, the SEC went a step further and, for the first time with...more

Eversheds Sutherland (US) LLP

SEC’s latest shot at the crypto industry: BlockFi sanctioned for its unregistered crypto-lending product

There is no love lost between the US Securities and Exchange Commission (SEC) and the crypto industry with tensions escalating over the past year. So it seems fitting that on Valentine’s Day, the SEC brought a...more

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