Podcast: Is Cryptocurrency a Security (like an orange grove)?
As investment firms and public issuers contemplate adjustments in response to the evolving risk environment brought about by changes in federal securities enforcement priorities, one area of focus should be a likely expansion...more
The decision, which addresses a broad range of market activity by Coinbase relating to 13 third-party tokens, could have significant implications for market participants. On March 27, 2024, Judge Katherine Failla of the US...more
A recent enforcement action from the Fort Worth Regional Office of the SEC reminds one of the agency's investor-protection mission and continued focus on those who deceive retail investors in the private offer and sale of...more
A recent action brought by the U.S. Securities and Exchange Commission (“SEC”) against a former Coinbase employee for insider trading in crypto tokens (the “Wahi Action”) highlights the lack of certainty surrounding the...more
Given that the charged entity’s name included “DeFi,” there was an inevitable flurry of news around last week’s SEC action against DeFi Money Market (“DMM”), including that it was the “first” enforcement action involving...more
On June 4, 2019, the SEC sued Kik Interactive Inc. (“Kik”), a privately held Canadian company, in the Southern District of New York, alleging that Kik’s offer and sale of $100 million worth of Kin tokens in 2017 constituted...more
The Situation: Federal prosecutors have asserted that two cryptocurrencies sold in initial coin offerings ("ICOs") are "securities" for purposes of federal securities laws in a criminal indictment alleging fraud against the...more