News & Analysis as of

Cryptoassets Securities Fraud

Allen Matkins

Did The FBI Violate The Securities Laws By Directing The Creation Of A Crypto Asset That Was Offered And Sold To The Public?

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Professor Ann Lipton recently wrote about an ingenious scheme developed by the Federal Bureau of Investigation that has resulted in indictments of 18 individuals and entities for alleged fraud and manipulation in the crypto...more

DLA Piper

Blockchain and Digital Assets News and Trends - August 2024

DLA Piper on

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

Akin Gump Strauss Hauer & Feld LLP

CryptoLink - January 2024 Updates

Congress continues to plug along on crypto policy. The Senate’s attention – on a bipartisan basis – has been focused on extending Anti-Money Laundering (AML) regulatory authority to the digital assets space. This continues to...more

Winstead PC

Judge Rules That Terraform’s Crypto Assets are Securities

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Last year, the Court in SEC v. Terraform Labs suggested, by denying the defendants’ motion to dismiss, that the sale of a digital asset to the public on a secondary market may constitute a security. Now, the Court has...more

A&O Shearman

Southern District Of New York Dismisses Claims Against Cryptocurrency Platform Seeking To Hold It Liable Under The Securities Laws...

A&O Shearman on

On August 29, 2023, Judge Katherine Polk Failla of the United States District Court for the Southern District of New York dismissed with prejudice a putative class action against a decentralized cryptocurrency trading...more

Troutman Pepper

Turning up the Heat – A Look at the FTC’s Groundbreaking Fine Against Bankrupt Digital Asset Services Provider Celsius Network LLC...

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In this episode of The Crypto Exchange, Troutman Pepper Partner Ethan Ostroff welcomes his colleagues Kim Phan and Addison Morgan to discuss the recent enforcement actions brought by the Federal Trade Commission (FTC) against...more

Allen Matkins

DFPI Goes Multimedia In Recent Crypto Enforcement Actions

Allen Matkins on

Early this week, the California Department of Financial Protection and Innovation issued desist and refrain orders alleging violations by the following individual and entities...more

Jones Day

Federal Agencies Coordinate Action Against Celsius for Fraud and Manipulation

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In Short - The Situation: In parallel federal actions, the Department of Justice ("DOJ"), Securities and Exchange Commission ("SEC"), Commodity Futures Trading Commission ("CFTC"), and Federal Trade Commission ("FTC")...more

Nutter McClennen & Fish LLP

Nutter Securities Enforcement Update: June 1, 2023

The Nutter Securities Enforcement Update is a periodic summary of noteworthy recent securities enforcement activity, settlements, decisions, and charges. ...more

Goodwin

SEC Brings Suit Against Owner of BitTorrent, Inc., and Settles Claims With Celebrity Endorsers of Certain Crypto Tokens

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On March 22, 2023, the US Securities and Exchange Commission (SEC) filed a complaint in US District Court for the Southern District of New York against Justin Sun, the owner of BitTorrent, Inc., a file-sharing platform; three...more

Goodwin

Jury Acquits Tesla and Musk of Securities Fraud for 2018 Tweets Regarding Going Private

Goodwin on

On February 3, 2023, in the matter In re Tesla Inc. Securities Litigation, Case No. 3:18-cv-04865, a California federal jury cleared Tesla, Inc. (Tesla), and CEO Elon Musk of claims that they committed securities fraud,...more

WilmerHale

Criminal Vs. Civil Liability Amid Growing Crypto Enforcement

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The emergence of digital assets has brought new risks and challenges, including the potential exploitation of the technology to facilitate financial crime. The U.S. Department of Justice has committed to work with its law...more

Cadwalader, Wickersham & Taft LLP

DOJ, SEC and CFTC Announce Parallel Criminal and Civil Charges Against Sam Bankman-Fried, FTX Trading and Alameda Research

On December 13, the U.S. Attorney’s Office for the Southern District of New York (the “U.S. Attorney’s Office”), the U.S. Securities and Exchange Commission (the “SEC”), and the U.S. Commodity Futures Trading Commission (the...more

Venable LLP

Keeping Up with Disclosures: SEC Punishes Kim Kardashian for Crypto Promotion

Venable LLP on

​​​​​​​On Monday the U.S. Securities and Exchange Commission issued a cease-and-desist order to Kim Kardashian for failing to disclose that she received $250,000 to promote EthereumMax’s digital tokens, “EMAX tokens,” on...more

Snell & Wilmer

Enforcement Action by the SEC Heightens Regulatory Uncertainty Surrounding Crypto Assets

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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

BakerHostetler

SEC Brings Flurry of Insider Trading Cases Using Market Analytics

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On July 25, 2022, the Securities and Exchange Commission (SEC or the Commission) made headlines announcing insider trading charges against 10 individuals across four separate cases, signaling an increased and renewed focus on...more

Goodwin

Twitter Brings Suit Against Musk in Delaware Court of Chancery Seeking Specific Performance

Goodwin on

On July 12, 2022, Twitter, Inc. brought a civil action in the Delaware Court of Chancery against Elon Musk, the co-founder and CEO of Tesla Motors, Inc., for breach of contract in an attempt to force Musk to complete his...more

Wilson Sonsini Goodrich & Rosati

SEC Charges Former Coinbase Employee with Insider Trading in Crypto Assets—the First SEC Enforcement Action Against a Crypto...

In an unprecedented enforcement action, the U.S. Securities and Exchange Commission (SEC) brought insider trading charges against a former Coinbase manager and two others related to buying 25 tokens ahead of Coinbase's...more

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