News & Analysis as of

Decentralized Finance (DeFi) Unregistered Securities

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

WilmerHale

Binance Ruling Spotlights Muddled Post-Morrison Landscape

WilmerHale on

The March decision in Williams v. Binance from the U.S. Court of Appeals for the Second Circuit marks the latest chapter in the judiciary's struggle to apply the U.S. Supreme Court's 2010 decision in Morrison v. National...more

Polsinelli

Blockchain+ Bi-Weekly - April 2024 #2

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The focus in Web3 law the past few weeks has been on jurisdictional issues when litigating matters involving borderless digital asset transactions. This is expected to be an ongoing issue, as courts work through these...more

K&L Gates LLP

SEC's Settlement with BarnBridge DAO: Implications for the Future of DeFi

K&L Gates LLP on

The BarnBridge decentralized autonomous organization (the DAO), along with its founders, agreed to a cease-and-desist order (Order), settling charges brought by the US Securities and Exchange Commission (SEC) finding that its...more

King & Spalding

Cryptocurrency: Legal Developments and Outlook

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Federal and state regulators have taken an increased interest in regulating cryptocurrencies, digital assets, and the larger blockchain ecosystem. This landscape is opaque and rapidly evolving, and many industry participants...more

Davis Wright Tremaine LLP

Broker Dealer Regulatory Digest - September 2023

Editor's Note - The following newsletter provides a roundup summarizing enforcement actions, guidance, rulemakings, and other public statements taken by a federal and/or state financial services regulatory agency,...more

Latham & Watkins LLP

DeFi Crypto Platform Not Liable for Scam Tokens

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A federal court’s dismissal of claims against a decentralized cryptocurrency platform and its investors for the actions of scam token issuers is a case of first impression with wider significance. On August 29, 2023, the...more

BakerHostetler

NFT Used for Service of Process; Blockchain CO2 Monitoring Solution Launches; IRS Addresses Staking; SEC Enforcement Continues;...

BakerHostetler on

Federal District Court Enters Default Judgment Based on NFT Service of Process - A federal district court judge in Florida entered a $2.2 million default judgment against a defendant on whom the judge previously authorized...more

Polsinelli

Proposed Digital Asset Market Structure Bill Could Give Regulatory Clarity; But is it the Regulatory Clarity the Industry Wants?

Polsinelli on

The Digital Asset Market Structure “(DAMS”) discussion draft bill attempts to provide regulatory clarity on crucial blockchain industry issues. These issues include when a blockchain is legally considered decentralized, the...more

Husch Blackwell LLP

SEC v. LBRY: Is it Time for Blockchain Networks to Register Their Native Tokens?

Husch Blackwell LLP on

The New Hampshire District Court recently granted summary judgment in favor of the Securities and Exchange Commission (SEC) in SEC v. LBRY, Inc., concluding that the native token of the blockchain protocol and network...more

Paul Hastings LLP

Top PHive Crypto Enforcement Notes: October Edition

Paul Hastings LLP on

We knew there would be plenty to write about each month, and so we start with a mention of the White House’s Framework for Responsible Development of Digital Assets, issued on September 16, 2022....more

Holland & Knight LLP

Avoiding Sticky Situations with Web3: DOJ, SEC Scrutiny of NFT and DeFi Projects Expected to Continue

Holland & Knight LLP on

Web3 is a term with a shifting, amorphous definition. In its current form, Web3 encompasses both decentralized platforms and the metaverse. Decentralized platforms offer services and assets that use distributed ledger...more

Proskauer - The Capital Commitment

Decentralized Finance: The Next Frontier of SEC Enforcement

The SEC’s push to regulate the next generation of blockchain-based applications will likely give rise to disputes and enforcement actions, particularly in the developing decentralized finance (DeFi) space....more

Proskauer - The Capital Commitment

U.S. Federal Regulators Turn Up the Heat on Cryptocurrency Trading Platforms

With new types of digital assets and related business on the rise, federal authorities have been busy investigating.  Recently, the SEC, FinCEN and the CFTC have imposed some notable settlements involving cryptocurrency...more

Goodwin

SEC Settles First-Of-Its-Kind $13m DeFi Tech Action

Goodwin on

SEC Settles First-Of-Its-Kind $13m DeFi Tech Action; NASDAQ Board Diversity Rules Challenged in Fifth Circuit; Delaware Court of Chancery Declines to Enforce Contractual Limitations on Liability to Bar Contractual Fraud...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

Jones Day

SEC Chairman Signals Intensified Enforcement and Regulatory Scrutiny of Crypto and DeFi

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SEC Chairman Gary Gensler suggests SEC will aggressively police crypto assets and decentralized finance ("DeFi") platforms while seeking expanded authority to regulate these fast-growing industries....more

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