The Blockchain Bi-Weekly presented by the Polsinelli Blockchain+ team is a rundown of some of the key stories in the Web3, blockchain and crypto ecosystems curated by our attorneys navigating the intersections of code, smart...more
8/24/2023
/ Bitcoin ,
Blockchain ,
Coinbase ,
Cryptocurrency ,
Digital Assets ,
Enforcement Actions ,
FinTech ,
Investment ,
PayPal ,
Ripple ,
Securities and Exchange Commission (SEC) ,
Stablecoins ,
Token Sales ,
Virtual Currency
The Blockchain Bi-Weekly presented by the Polsinelli Blockchain+ team is a rundown of some of the key stories in the Web3, blockchain and crypto ecosystems curated by our attorneys navigating the intersections of code, smart...more
8/10/2023
/ Blockchain ,
Coinbase ,
Cryptocurrency ,
Digital Assets ,
Enforcement Actions ,
Financial Institutions ,
Financial Services Industry ,
Regulatory Agenda ,
Securities and Exchange Commission (SEC) ,
Securities Regulation ,
Securities Violations ,
Smart Contracts ,
Stablecoins
The Blockchain Bi-Weekly presented by the Polsinelli Blockchain+ team is a rundown of some of the key stories in the Web3, blockchain and crypto ecosystems curated by our attorneys navigating the intersections of code, smart...more
7/28/2023
/ Anti-Money Laundering ,
Blockchain ,
Decentralized Finance (DeFi) ,
Digital Assets ,
Distributed Ledger Technology (DLT) ,
FinCEN ,
Legislative Agendas ,
Proposed Legislation ,
Regulatory Agenda ,
Regulatory Reform ,
Securities and Exchange Commission (SEC) ,
Smart Contracts
On February 9, 2023, the U.S. Securities and Exchange Commission (the “SEC”) charged Kraken with offering and selling Kraken’s Staking Program – its staking-as-a-service product – as an unregistered security. Kraken, more...more
2/16/2023
/ Blockchain ,
Cryptocurrency ,
Digital Assets ,
Enforcement Actions ,
Financial Services Industry ,
Investment Opportunities ,
Securities and Exchange Commission (SEC) ,
Securities Violations ,
Token Sales ,
Trading Platforms ,
Unregistered Securities
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
11/17/2022
/ Blockchain ,
Digital Assets ,
Enforcement Actions ,
Financial Instruments ,
Howey ,
Investment Contract ,
Payment Tokens ,
Securities Act ,
Securities and Exchange Commission (SEC) ,
Securities Regulation ,
Securities Violations ,
Summary Judgment ,
Token Sales ,
User-Generated Content
In what may be the first of its kind, a New York state court has authorized service via token airdrop in a case regarding allegedly stolen cryptocurrency assets. This form of alternative service is novel but could become a...more
7/11/2022
/ Blockchain ,
Crypto Exchanges ,
Cryptocurrency ,
Digital Assets ,
Digital Wallets ,
Enforcement Actions ,
Financial Crimes ,
Financial Transactions ,
Hackers ,
Money Laundering ,
Service of Process
On January 3, 2022, the Commodity Futures Trading Commission (CFTC) announced an order against and settlement with Polymarket, a blockchain-enabled prediction market that allows users to “bet” on the occurrence of certain...more
Thoughts on Recent SEC statements and Action on Enforcement Related to Decentralized Autonomous Organizations (DAO) -
On November 10, 2021 the US Securities and Exchange Commission (the SEC) announced that it had halted...more
An interesting and thoughtful whitepaper called “A Legal Framework for Decentralized Autonomous Organizations” was co-authored by a general counsel of one of the major venture investors in the blockchain space suggesting a...more
As the United States Senate considered H.R. 3684, the “Investing in a New Vision for the Environment and Surface Transportation In America Act (INVEST in America Act)”, an attempt to modify legislative language concerning...more
8/18/2021
/ Biden Administration ,
Bipartisan Budget ,
Blockchain ,
Brokers ,
Critical Infrastructure Sectors ,
Cryptocurrency ,
Digital Assets ,
Financial Transactions ,
Legislative Agendas ,
Popular ,
Proposed Legislation ,
Regulatory Agenda ,
Reporting Requirements
On Tuesday, April 20, 2021, the House of Representatives passed the Eliminate Barriers to Innovation Act of 2021 (the “Act”). The Act was initially introduced in March with an overarching aim to clarify the roles of the...more
4/28/2021
/ Bitcoin ,
Blockchain ,
CFTC ,
Cryptocurrency ,
Digital Assets ,
Innovative Technology ,
Jurisdiction ,
Legislative Agendas ,
Regulatory Agenda ,
Regulatory Oversight ,
Securities and Exchange Commission (SEC) ,
Virtual Currency ,
Working Groups
One of the biggest current trends in the world of digital and decentralized assets is the NFT, or non-fungible token. In the past month, Grimes sold nearly $6 million of NFTs and Kings of Leon has pledged to come out with...more
U.S. Securities and Exchange (SEC) Commissioner Hester Peirce, referred to by some as “crypto mom” for her support for blockchain technology and cryptocurrency, was nominated on June 3, to serve a five-year term. Peirce is...more
With the world slowly coming out of the COVID-19 lock down and the economy hopefully on the path to recovery there have been many developments in the blockchain / crypto space over the last few weeks....more
5/19/2020
/ Bitcoin ,
Blockchain ,
CFTC ,
Cryptocurrency ,
Digital Assets ,
Digital Currency ,
FinTech ,
Fraudulent Investment ,
Initial Coin Offering (ICOs) ,
Securities and Exchange Commission (SEC) ,
Securities Fraud ,
Stock Exchange ,
Unregistered Securities ,
Virtual Currency
While the world at large shelters in place due to COVID-19 legal and regulatory activity of digital asset and the blockchain world is hopping. ...more
4/23/2020
/ Best Interest Standard ,
Bitcoin ,
Blockchain ,
CFTC ,
Cryptocurrency ,
Digital Currency ,
Distributed Ledger Technology (DLT) ,
Financial Instruments ,
Form CRS ,
FSB ,
Initial Coin Offering (ICOs) ,
Investment Fraud ,
Regulation BI ,
Securities and Exchange Commission (SEC) ,
Token Sales ,
Virtual Currency
Many crypto entrepreneurs are seeking to build decentralized networks in which a token serves as a means of exchange on, or provides access to a function of the network. In the course of building out the network, they need...more
2/14/2020
/ Bitcoin ,
Blockchain ,
Cryptocurrency ,
De Minimus Quantity Exemption ,
Digital Currency ,
Financial Instruments ,
Financial Markets ,
FinTech ,
Initial Coin Offering (ICOs) ,
Investment Opportunities ,
IRS ,
Popular ,
Regulatory Oversight ,
Securities and Exchange Commission (SEC) ,
Securities Regulation ,
Tax Liability ,
Tax Planning ,
Token Sales ,
Virtual Currency