News & Analysis as of

Cryptocurrency State Attorneys General

Orrick, Herrington & Sutcliffe LLP

California Attorney General settles with crypto company

On September 4, California Attorney General (AG) Rob Bonta announced a settlement with a cryptocurrency trading platform for allegedly failing to comply with state cryptocurrency laws. According to the settlement, the company...more

Cozen O'Connor

The State AG Report – 09.12.2024

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Here are curated AG and federal regulatory news stories highlighting key areas in which state and federal regulators’ decisions are having an impact across the US: •New Mexico Snaps at Snapchat for Allegedly Failing to...more

Troutman Pepper

Troutman Pepper Weekly Consumer Financial Services Newsletter - September 2024 # 2

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To keep you informed of recent activities, below are several of the most significant federal and state events that have influenced the Consumer Financial Services industry over the past week...more

Cozen O'Connor

Robinhood Crypto Reaches Settlement with California AG

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California AG Rob Bonta has reached a settlement with Robinhood Crypto, LLC (Robinhood) to resolve an investigation into allegations that the cryptocurrency trading platform violated the California Commodities Law by...more

BakerHostetler

Weekly Blockchain Blog - September 2024

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Crypto Payments Firms Announce New Integrations and Initiatives - According to reports, fintech bank Revolut recently announced a partnership with Ledger, a major crypto hardware wallet provider, to make it easier for...more

Cozen O'Connor

The State AG Report – 7.18.2024

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Here are curated AG and federal regulatory news stories highlighting key areas in which state and federal regulators’ decisions are having an impact across the US: •Gasoline Trading Firms to Pay $50 Million to Settle...more

Cozen O'Connor

Republican AGs Pen Amicus Challenging SEC’s Authority to Regulate Crypto

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A group of 7 Republican AGs filed an amicus brief with the U.S. District Court for the Northern District of Texas in a litigation between the SEC and a company in the cryptocurrency space, arguing that the SEC does not have...more

Troutman Pepper

New York AG Sues $1B Crypto Firms Allegedly Engaged in Fraudulent Schemes

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On June 6, New York Attorney General (AG) Letitia James filed suit against NovaTech Advisors, LLC, AWS Mining Pty Ltd., and several other entities, alleging the defendants orchestrated two consecutive, fraudulent...more

Cozen O'Connor

The State AG Report – 6.20.2024

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Here are curated AG and federal regulatory news stories highlighting key areas in which state and federal regulators’ decisions are having an impact across the US: •GOP AGs Seek to Black Out FERC’s Electrical Transmission &...more

Cozen O'Connor

NY AG Lends Investors a Hand in Recouping Cryptocurrency Lending Program Losses

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New York AG Letitia James settled with cryptocurrency company Gemini Trust Company, LLC to resolve allegations that the company violated the Martin Act and New York Executive Law by engaging in fraudulent and deceptive...more

Orrick, Herrington & Sutcliffe LLP

New York Attorney General sues crypto companies, alleging billion-dollar pyramid scheme targeting immigrant communities

On June 6, New York Attorney General Letitia James announced legal actions against two companies (with the same founders) for allegedly participating in illegal pyramid schemes. The complaint alleged these schemes defrauded...more

Cozen O'Connor

The State AG Report – 6.13.2024

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Here are curated AG and federal regulatory news stories highlighting key areas in which state and federal regulators’ decisions are having an impact across the US: •44 AGs Rally for AI Safeguards, Endorsing New Commission...more

Cozen O'Connor

NY AG Files Another Lawsuit in Cryptocurrency Crackdown, Alleging Illegal Ponzi Scheme

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New York AG Letitia James has filed a lawsuit against cryptocurrency companies Nova Tech, Ltd and AWS Mining Pty Ltd., along with their founders and promoters, alleging that the companies operated illegal pyramid and Ponzi...more

Cozen O'Connor

The State AG Report – 5.23.2024

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Here are curated AG and federal regulatory news stories highlighting key areas in which state and federal regulators’ decisions are having an impact across the US: •New York AG Secures Record $2 Billion Settlement in Crypto...more

Cozen O'Connor

New York AG Secures Record $2 Billion Settlement in Crypto Case

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New York AG Letitia James secured a $2 billion settlement with Genesis Global Capital, LLC, and related entities (collectively, “Genesis”), to resolve allegations that the bankrupt cryptocurrency firms defrauded investors,...more

Cozen O'Connor

GOP AGs Tell BlackRock to be Bo(u)lder With Its Conflicts Oversight

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A group of 15 Republican AGs sent a letter to BlackRock, Inc.’s fund directors (collectively, “BlackRock”) reiterating concerns as to whether the investment adviser has sufficiently investigated its ESG policies and potential...more

Cozen O'Connor

The State AG Report – 12.14.2023

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Here are curated AG and federal regulatory news stories highlighting key areas in which state and federal regulators’ decisions are having an impact across the US: • AGs Fight for Fair Play in College Sports- • AGs on the...more

Cozen O'Connor

That’s a Lot of Coin: AG James Settles with Crypto Platform for $22 Million

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New York AG Letitia James settled with Mek Global Limited and Phoenixfin PTE Ltd., both doing business as KuCoin, to resolve allegations that the cryptocurrency platform violated the Martin Act when it failed to register as a...more

Faegre Drinker Biddle & Reath LLP

State AG Updates: Data Privacy & Security; Consumer Protection; Wage & Employment; Unfair & Deceptive Practices; Health Care Fraud...

At a Glance - In this final edition for 2023, the number and breadth of data privacy and security enforcement actions demonstrate that state AGs are flexing their muscles and playing a significant regulatory role in this...more

Cozen O'Connor

CFPB Proposes Financial Data Rights Rule to Promote Open Banking

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The CFPB proposed a new rule to encourage a shift towards open and decentralized banking by requiring depository and nondepository entities to make available to consumers and authorized third parties certain data relating to...more

Cozen O'Connor

AGA Working Groups Grapple with Gritty Topics: Cybersecurity, ORC and Cannabis

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From October 3rd to 5th in Boston, the Attorney General Alliance (AGA) held a series of working group meetings focused on topics uppermost in the minds of state AGs: cybersecurity, organized retail crime (ORC) and cannabis....more

WilmerHale

New York Attorney General James Proposes Landmark Digital Asset Law

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On May 5, New York Attorney General Letitia James announced a landmark legislative proposal—titled the Crypto Regulation, Protection, Transparency and Oversight (CRPTO) Act (hereinafter, the Proposal)—to tighten regulations...more

Morrison & Foerster LLP

MoFo’s State + Local Government Enforcement Newsletter July 2023

Morrison Foerster’s State and Local Government Task Force is pleased to provide our bimonthly newsletter summarizing some of the most important and interesting developments from state attorneys general across the country and...more

Cozen O'Connor

Republicans Target Mutual Fund Directors in Latest ESG Probe

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15 Republican AGs wrote a letter to ten mutual fund directors who helm funds for which BlackRock, Inc. serves as an investment adviser, requesting information regarding potential conflicts of interest and ESG investments....more

Troutman Pepper

Ten State AGs Sue Coinbase, Alleging Securities Law Violations

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On June 6, Alabama, California, Illinois, Kentucky, Maryland, New Jersey, South Carolina, Vermont, Washington, and Wisconsin each filed enforcement actions against leading cryptocurrency exchange Coinbase and its parent,...more

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