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Distributed Ledger Technology (DLT) Commodities Futures Trading Commission Digital Currency

Polsinelli

Blockchain+ Bi-Weekly: July 2024 #2

Polsinelli on

While the nation was preoccupied with the significant developments in the Presidential race, advocates and promoters of the blockchain ecosystem were particularly attentive to the news, given the perception that the current...more

Skadden, Arps, Slate, Meagher & Flom LLP

The Distributed Ledger: Blockchain, Digital Assets and Smart Contracts

A flurry of legal and enforcement activity has arisen over the last two weeks across a wide range of areas in the Web3 space, including actions by the Securities and Exchange Commission, the Office of Foreign Assets Control,...more

BakerHostetler

New Crypto Products Launch, Draft Digital Assets Bill Released, Regulators Address Stablecoins, DOJ Publishes Crypto Report, Hacks...

BakerHostetler on

Fintech and Crypto Firms Announce Myriad New Crypto Product Launches - This week, a major global payments firm announced the launch of a stablecoin settlement solution that leverages technology by Fireblocks, a digital...more

BakerHostetler

Crypto Payment Initiatives Launch; Report Cites Evolving Crypto Views; G7, ECB, BIS Address Crypto Risks; DOJ, CFTC Target NFT...

BakerHostetler on

New Cryptocurrency Payments Systems, Tokens and Trade Associations Launch - A leading global cryptocurrency platform has reportedly announced a partnership with a global e-commerce platform that would allow e-commerce...more

Locke Lord LLP

Down the Rabbit Hole: Digital Assets in ‎International Arbitration

Locke Lord LLP on

Summary: The global adoption of digital assets and related blockchain technology has network ‎effects, which suggest that programmable legal contracts, including automated dispute resolution ‎mechanisms, might not only be...more

Polsinelli

BitBlog Bi-Weekly Update - April 2020

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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

Polsinelli

Blockchain Litigation Year In Review (Part 2): Lessons From 2019 And What’s Ahead For 2020

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It began as an obscure experiment in unregulated virtual currency. Initially undistinguished from Bitcoin, blockchain evolved to become one of the pillars of web 3.0, enabling new means of trust, transparency, security and...more

Polsinelli

Blockchain Litigation Year in Review (Part 1): Lessons From 2019 And What’s Ahead For 2020

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When is a digital asset a security or a commodity? Are SAFTs safe? Does hyping blockchain create an expectation of profit? Is blockchain a trademark, trade secret or neither? Are free tokens tax-free? Who is Satoshi Nakamoto?...more

Polsinelli

Wind of Change - The Year FinTech Came in From the Cold - Polsinelli BitBlog: Year End Edition

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Digital assets and Blockchain technologies which were once described as the tools of criminals, are now a key part of efforts by traditional financial services firms to transform their businesses and innovative firms looking...more

Perkins Coie

Blockchain Week in Review - November 2019 #3

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U.S. Developments - The Fed Chairman Comments on Potential for a US-backed Digital Currency - Jerome Powell, Chairman of the Federal Reserve, wrote to Congress this week discussing the merits of implementing a central...more

BakerHostetler

Race to Build Crypto Payment Systems and Blockchain Solutions Continues As Governments Continue to Fight Crypto Crimes

BakerHostetler on

Industry Initiatives Indicate Growing Interest in Cryptocurrency Payments - Late last week, Reuters reported that “[s]everal of the world’s largest banks are in the process of investing around $50 million” to create “… a...more

Sheppard Mullin Richter & Hampton LLP

Smart Contract Developers – Beware and Lawyer Up!

Smart contracts, also referred to as chaincode in the Hyperledger world, are one of the most powerful aspects of blockchain and Distributed Ledger Technology (DLT). This “self-executing” code can receive various inputs and,...more

Robins Kaplan LLP

Your Daily Dose of Financial News

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To no one’s surprise, the Fed followed through with its months of promises and raised its benchmark interest rate by 25 basis points yesterday. The FOMC also indicated that it’s planning to raise rates again in December....more

Akin Gump Strauss Hauer & Feld LLP

Increased SEC Enforcement Action and Litigation In the Cryptocurrency Space

As the U.S. Securities and Exchange Commission (SEC) stated previously, it is continuing to scrutinize and commence enforcement actions against companies, advisors and investors involved in the offering of cryptocurrencies...more

Burr & Forman

Some Legal Issues Surrounding Blockchain and Cryptocurrency Part 7: The CFTC’s Proposed Cryptocurrency Interpretation.

Burr & Forman on

After Bitfinex, the CFTC issued its Proposed Interpretation on “Retail Commodity Transactions Involving Virtual Currency.” Proposed Interpretation, 82 Fed. Reg. 60335 (CFTC Dec. 20, 2017). Although the comment period closed...more

Burr & Forman

Some Legal Issues Surrounding Blockchain and Cryptocurrency Part 6: The CFTC’s Bitfinex Order.

Burr & Forman on

In a series of 2015 decisions, the CFTC determined that virtual currency is a commodity subject to its jurisdiction. In a 2016 settled enforcement action, the CFTC took the position that an unregistered platform...more

Burr & Forman

Some Legal Issues Surrounding Blockchain and Cryptocurrency Part 5: Commodities Forwards: Dodd-Frank & Hunter Wise.

Burr & Forman on

The 2011 Dodd-Frank Act amended the CFTC’s jurisdiction to authorize regulation of “retail commodity transactions offered ‘on a leveraged or margined basis, or financed by the offeror, the counterparty, or a person acting in...more

Proskauer - Blockchain and the Law

Cryptoasset Exchanges Respond to New York Attorney General’s Virtual Markets Integrity Initiative

On April 17, 2018, the New York Attorney General’s Office (“OAG”) launched a Virtual Markets Integrity Initiative and sent letters to thirteen cryptoasset trading platforms requesting, through a questionnaire, disclosures on...more

Kramer Levin Naftalis & Frankel LLP

The SEC Goes Mining: Launches Cryptocurrency Industry Sweep

After months of steadily increasing supervisory activity in regard to the emerging cryptocurrency sector, it now appears that U.S. financial market regulators may have switched gears and entered the enforcement stage....more

The Volkov Law Group

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

The Volkov Law Group on

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

Perkins Coie

Blockchain Week in Review - February 2018

Perkins Coie on

Below is a summary of some of the significant legal and regulatory actions that occurred over the past week. This alert is not intended to be a comprehensive list of all such developments, but rather a selection of...more

Ballard Spahr LLP

FinCEN Letter to U.S. Senate Committee on Finance Purports to Thread Needle of Potentially Competing Jurisdictions by Regulators...

Ballard Spahr LLP on

As we previously have blogged, the Financial Crimes Enforcement Network (“FinCEN”) became one of the first regulators to wade into the regulation of cryptocurrency when it released interpretive guidance in March 2013 stating...more

Ballard Spahr LLP

Federal court rules virtual currency is commodity regulated by CFTC

Ballard Spahr LLP on

A decision this week from a New York federal district court ruling that the U.S. Commodity Futures Trading Commission (CFTC) had jurisdiction to regulate a cryptocurrency business represents the first opinion from a federal...more

Ballard Spahr LLP

Virtual Currency Is a Commodity Regulated by the CFTC, Eastern District of New York Rules

Ballard Spahr LLP on

A federal court this week found that the U.S. Commodity Futures Trading Commission (CFTC) had jurisdiction to regulate a cryptocurrency business, raising the possibility of jurisdictional tension among the CFTC and other...more

The Volkov Law Group

Governments Begin to Embrace Cryptocurrency

The Volkov Law Group on

The world is abuzz about cryptocurrency. By this point, most everyone has heard of Bitcoin, and may even know about some of the other big players in the world such as Ethereum, Ripple, Litecoin, and countless others. The...more

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