News & Analysis as of

Securities and Exchange Commission (SEC) Blockchain Civil Monetary Penalty

Polsinelli

Blockchain+ Bi-Weekly; Highlights of the Last Two Weeks in Web3 Law: February 27, 2025

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Three of the SEC’s key enforcement actions—all extensively covered in BitBlog and widely seen as emblematic of the agency’s adversarial stance toward the industry—are reportedly being halted or dismissed. The SEC has agreed...more

Cohen & Gresser LLP

Stoner Cats: Another Example of the SEC Targeting NFTs

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On September 13, the U.S. Securities and Exchange Commission settled enforcement proceedings against the maker of the Stoner Cats web series arising from its sale of non-fungible tokens (NFTs), reflecting a significant...more

Shipkevich PLLC

Kraken Agrees to Settlement with SEC Including $30 Million Penalty

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As of February 9, 2023, the Securities and Exchange Commission (SEC) has accused Payward Ventures, Inc. and Payward Trading Ltd, better known as Kraken, of failing to register the sale of their cryptocurrency...more

ArentFox Schiff

All Your Ether (Are) Belong To US: SEC Claims Jurisdiction Over Entire Ethereum (ETH) Network

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The US Securities and Exchange Commission (SEC) has filed an enforcement action against crypto influencer Ian Balina in the Western District of Texas alleging that he promoted unregistered securities in connection with the...more

King & Spalding

State Attorneys General Poised to Elevate Regulatory Scrutiny of Digital Asset Businesses

King & Spalding on

The Attorney General Alliance (“AGA”) recently issued a collaborative White Paper that signals heightened scrutiny of digital asset businesses by state Attorneys General in coming years. Recognizing that it is “no longer...more

Winstead PC

What to Expect from the SEC Under the Biden Administration

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The dust has settled on the 2020 election, and the Biden administration has begun pressing forward with its policy objectives. Critical to achieving such objectives is the Democrats’ control of both the House of...more

Skadden, Arps, Slate, Meagher & Flom LLP

The Distributed Ledger: Blockchain, Digital Assets and Smart Contracts - October 2020

Recent and significant regulatory and legislative events in the digital asset space demonstrate the evolving and expanding approach by U.S. and international regulators to the burgeoning digital asset markets. These...more

BCLP

Is There Life for SAFTs After the Telegram Case?

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The final act in the saga between Telegram Group Inc. (“Telegram”) and the SEC was the June 26, 2020 court approval of the SEC’s settlement with Telegram, in which Telegram agreed to pay a civil penalty of $18.5 million and...more

Polsinelli

Blockchain Litigation Year In Review (Part 2): Lessons From 2019 And What’s Ahead For 2020

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It began as an obscure experiment in unregulated virtual currency. Initially undistinguished from Bitcoin, blockchain evolved to become one of the pillars of web 3.0, enabling new means of trust, transparency, security and...more

Hogan Lovells

U.S. SEC and Longfin CEO settle fraud action

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The SEC has settled its fraud action against Longfin CEO Venkata Meenavalli, who has agreed to pay $400,000 in disgorgement and penalties. The SEC's complaint alleged that Longfin and Meenavalli obtained qualification for...more

Eversheds Sutherland (US) LLP

The SEC marches on - Cryptocurrency startup Block.one pays civil penalty of $24 million over unregistered initial coin offering

In a somewhat surprising move, the Securities and Exchange Commission (SEC) entered into a $24 million settlement with Block.one on September 30, 2019, over its unregistered initial coin offering (ICO) that raised upwards of...more

Latham & Watkins LLP

SEC’s Crypto Summer Continues

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SEC issues cease-and-desist orders for unregistered token presales and anti-touting violations. Not content to let the dog days of summer slip by, the US Securities and Exchange Commission (SEC) recently issued two...more

Perkins Coie

Blockchain Week in Review - April 2019 #3

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U.S. Developments - Regulatory Updates - Arca Investment Management Files With SEC to Issue Stablecoin - Arca Investment Management, a California-based investment management firm specializing in digital assets, filed an...more

Proskauer - Blockchain and the Law

Gladius Escapes Fines for Unregistered ICO after Self-Reporting to the SEC

On February 20, 2019, the SEC announced that it settled charges against Gladius Network LLC (“Gladius”) for failing to register non-exempt offers and sales of securities in violation of Sections 5(a) and 5(c) of the...more

Goodwin

SEC Issues Guidance Regarding Application Of Securities Laws to Blockchain Technologies

Goodwin on

On November 16, 2018, the Divisions of Corporation Finance, Investment Management, and Trading and Markets of the U.S. Securities and Exchange Commission (“SEC”) issued a Statement on Digital Asset Securities Issuance and...more

Robins Kaplan LLP

Your Daily Dose of Financial News

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The Depository Trust & Clearing Corporation—the company that “serves as the back end for much Wall Street trading”—has announced a big step forward in the embrace of blockchain technology to track and report transactions. IBM...more

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