News & Analysis as of

Blockchain Securities and Exchange Commission (SEC) Trading Platforms

BakerHostetler

Weekly Blockchain Blog - October 2024 #4

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Crypto Integration Initiatives Continue, Crypto Exchange Data Published - According to a recent report, a major U.S. fintech company intends to purchase a stablecoin infrastructure provider. While the fintech company itself...more

BakerHostetler

Weekly Blockchain Blog - October 2024

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According to a recent press release by the banking cooperative that operates the world’s foremost global payment messaging network, central and commercial banks will soon be able to use the network “to carry out trial...more

DLA Piper

Blockchain and Digital Assets News and Trends - September 2024

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This monthly bulletin is designed to help companies identify important legal developments governing the use and acceptance of blockchain technology, smart contracts, and digital assets....more

BakerHostetler

Weekly Blockchain Blog - May 2024 #2

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Crypto and Web3 Firms Announce Fintech Integrations - A major U.S. fintech firm recently announced a product integration with MoonPay, a Web3 infrastructure company, “that allows MoonPay users in the U.S. to seamlessly buy...more

Polsinelli

Blockchain+ Bi-Weekly - May 2024

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Big news dropped in the past few weeks, which sent shockwaves across the industry: according to a recently filed lawsuit, the SEC has classified the second largest cryptocurrency, Ether, as a security in certain ongoing...more

Skadden, Arps, Slate, Meagher & Flom LLP

NYAG Files Action Against Crypto Trading Platform, Takes Position That ETH Is a Security

On March 9, 2023, the New York State Attorney General’s Office (NYAG) filed a lawsuit charging crypto trading platform KuCoin for “failing to register as a securities and commodities broker-dealer and falsely representing...more

Polsinelli

Kraken the Whip – Kraken Penalized Over Staking-as-a-Service

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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

Sheppard Mullin Richter & Hampton LLP

April 2022 Crypto Enforcement Actions And Regulatory Guidance Roundup

In April, we continued to see a steady pace in the seriousness and frequency of crypto enforcement actions by state and federal law enforcement.  (See our March 2022 Crypto Enforcement Actions Roundup blog here where we...more

Proskauer - Blockchain and the Law

SEC Brings Charges against Blockchain-Based Trading Platform over Alleged Violations of Disclosure Rules

On January 10, 2022, the Securities and Exchange Commission (“SEC” or the “Commission”) announced it settled charges in In re tZERO ATS, LLC, No. 93938 (SEC Order Jan. 10, 2022) (“Order”)....more

Sheppard Mullin Richter & Hampton LLP

Recent SEC Proposed Rulemaking Could Impact Blockchain Trading Platforms

On January 26, 2022, the SEC released a rulemaking proposal intended to enhance investor protections and cybersecurity for alternative trading systems that trade treasuries and other government securities. The 650 page...more

Proskauer - Blockchain and the Law

SEC Brings Charges against Allegedly Fraudulent Unregistered Decentralized Finance Project That Ran on the Ethereum Platform

On August 6, 2021, the Securities and Exchange Commission (SEC) announced that it had charged two men, Gregory Keough and Derek Acree, and their company, Blockchain Credit Partners, doing business as DeFi Money Market...more

Sheppard Mullin Richter & Hampton LLP

Wyoming Takes the Lead With Decentralized Autonomous Organizations

It is called the Cowboy state for a reason. With varied terrain and a hearty population Wyoming has long been a haven for independent thinkers and doers – pioneers. The Wyoming legislature recently underscored that truth with...more

Perkins Coie

CFTC Finalizes Guidance on Digital Assets in the Context of Retail Commodity Transactions

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On March 24, 2020, the U.S. Commodity Futures Trading Commission (the Commission or the CFTC) finalized long-awaited interpretive guidance regarding what constitutes the “actual delivery” of a digital asset in the context of...more

Latham & Watkins LLP

The SEC Greenlights a Blockchain Settlement Service for Public Shares

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The US agency has used a no-action letter to enable a sandbox-like approach to blockchain-based trade settlements. In what may be the first regulator-approved application of blockchain technology for the settlement of US...more

Farrell Fritz, P.C.

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

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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

Orrick - On the Chain

SEC Division of Enforcement 2019 Annual Report Shows Cryptocurrency Is Still Under the Microscope

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The SEC Division of Enforcement’s 2019 Annual Report, released earlier this month, shows a continuing focus on activities involving blockchain and cryptocurrency, and its website shows an increase in cases since last fiscal...more

Sullivan & Worcester

Ether Is…a Commodity

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It is official. Finally. On October 10, 2019, the Commodity Futures Trading Commission (“CFTC”) Chairman Heath Tarbert announced that he believes ether is a commodity and thus falls under the jurisdiction of the CFTC....more

Perkins Coie

Blockchain Week in Review - February 2019

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U.S. Developments - Kik Publicizes Response to Possible SEC Enforcement - On January 27, the Wall Street Journal published an article describing the impending legal battle over cryptocurrency Kin and its 2017 ICO. That...more

White and Williams LLP

The SEC Expands Its Enforcement Efforts to Include Cryptocurrency Exchanges

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In an enforcement action filed on November 8, 2018, the Securities and Exchange Commission (SEC) ordered that 31-year-old Zachary Coburn, founder of the EtherDelta cryptocurrency exchange, cease and desist from operating the...more

Farrell Fritz, P.C.

First Federal Ruling Against SEC on Whether Digital Token is a Security

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On November 27, 2018, the United States District Court for the Southern District of California denied the Securities and Exchange Commission’s motion for a preliminary injunction to block an initial coin offering, finding the...more

Kramer Levin Naftalis & Frankel LLP

Unregistered Crypto Exchange Fined by SEC

In a sign of continued enforcement activity involving cryptocurrency products and services, the SEC fined Zachary Coburn, the founder of EtherDelta, for operating an unregistered national securities exchange....more

Goodwin

SEC Reaches First Settlement in connection with an Unregistered Crypto Exchange

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On November 8, 2018, the U.S. Securities and Exchange Commission (“SEC”) announced that it settled charges against Zachary Coburn, the founder of blockchain token trading platform EtherDelta, over operating an unregistered...more

Perkins Coie

Blockchain Week in Review - September 2018 #3

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Hester Peirce Remarks at Cato Institute Conference - Hester Peirce made remarks at the Cato Institute’s Fintech Unbound conference on September 12, 2018. Commissioner Peirce commented that securities regulators are too risk...more

The Volkov Law Group

Drawing Legal Lines in Cryptocurrency Regulation: The Importance of Decentralization

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The cryptocurrency market is exciting to watch. Based on the revolutionary blockchain distributed ledger system, cryptocurrencies have exploded on the marketplace. As with any new “gold rush” to hit a market, cryptocurrency...more

The Volkov Law Group

Who’s on First, What’s on Second – Who is Regulating ICOs, Cryptocurrencies and Exchange Platforms?

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When new technologies appear on the scene, Washington regulation is sure to follow. The exact configuration can take years to sort out, especially when it comes to financial products, given the labyrinth of regulatory bodies...more

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