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
On July 22, 2024, the Securities and Exchange Commission (SEC) declared nine registration statements effective under the Securities Act of 1933 for spot Ether ETFs, clearing the way for the ETFs to begin trading on July 23....more
In a recent press release, Grayscale Investments announced “the creation and public launch of two new crypto investment trusts: Grayscale Near Trust and Grayscale Stacks Trust.” According to the press release, “The trusts...more
AI Protocols Merge, VC Crypto Funding Increases, Tether Completes SOC 2 Audit - According to a recent press release, “SingularityNET (SNET), the world’s first decentralized Artificial Intelligence (AI) network, Fetch.ai, a...more
The legislation allows decentralized autonomous organizations to gain legal entity status and operate within the bounds of applicable law. ...more
The U.S. Securities and Exchange Commission (SEC) has approved proposals from three stock exchanges to list and trade shares of 11 spot bitcoin-based products (the “Spot BTC Approval”). Following the Spot BTC Approval, the...more
Regulatory Developments - CFPB Issues Interpretive Rule: Tech Firms and Digital Marketers Acting as Service Providers Are Subject to CFPA - On August 10, the CFPB issued an interpretive rule clarifying that tech firms...more
As recently discussed in FinTech Nostradamus, the SEC recently doubled the size of its Crypto Assets and Cyber Unit. Since its inception in 2017, the SEC’s Crypto Assets and Cyber Unit has launched more than 80 investigations...more
A recent study found that 16 percent of Americans have invested in, traded or used cryptocurrencies such as Bitcoin and Ether. This widespread use, coupled with the cryptocurrency industry having limited to no regulatory...more
Even those who are most suspicious of the rise of cryptocurrency will likely admit that the underlying blockchain technology and its potential uses are exciting. One use of this technology, decentralized finance, or DeFi, is...more
European Central Bank announces the investigation phase of a digital Euro project. SEC charges Coinschedule.com with unlawfully touting digital asset securities. Federal court order permanently bans PaxForex and imposes a...more
Biogen Inc. Wins Some, Loses Some, In Delaware Chancery Court Corporate Records Suit; Southern District of Florida Dismisses Securities Fraud Class Action Against Norwegian Cruise Lines Stemming From Alleged Impacts of...more
Late last year, the SEC filed a litigated action in the U.S. District Court for the Southern District of New York against Ripple Labs Inc. and two of its executive officers (collectively, “Ripple”), alleging that Ripple...more
On October 11, 2019, the leaders of the US Securities and Exchange Commission (SEC), the US Commodity Futures Trading Commission (CFTC), and the US Treasury Department’s Financial Crimes Enforcement Network (FinCEN) issued a...more
The juxtaposition of two recent SEC enforcement actions against token issuers may shed some light on the regulator’s evolving regulatory framework....more
This BitBlog summary focuses on the continuing actions by the U.S. Securities and Exchange Commission (“SEC”) against the issuers of noncompliant initial coin offerings (“ICOs”) and other crypto related transactions including...more
U.S. Developments - U.S. Federal Regulatory Developments - CFTC, FinCEN, and SEC Leaders Release a Join Statement on Digital Assets - On October 11, 2019, the heads of the Commodity Futures Trading Commission (“CFTC”),...more
A broker-dealer and its chief executive officer settled charges brought in 2017 by the Securities and Exchange Commission that the firm facilitated manipulative conduct by a customer, despite being alerted by regulators and...more
In remarks made at the Yahoo! All Markets Summit in New York, Heath Tarbert, Chairman of the U.S. Commodity Futures Trading Commission (CFTC), said that he believed the Ether cryptocurrency was a “commodity” and should be...more
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
This summary covers the last two weeks which includes news about continued enforcement actions by the U.S. Securities and Exchange Commission (“SEC”) involving fraudulent digital asset transactions, dismissal of a securities...more
On Friday, May 31, 2019, the US Securities and Exchange Commission (SEC) hosted a forum (the FinTech Forum) to discuss financial technology developments, including blockchain and distributed ledger technology and...more
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
Cryptocurrency investors were concerned following the SEC’s July 2017 investigative report on digital token sales by a virtual organization known as “The DAO.” ...more
As expected based on buzz from late last week, longtime CBS chief Les Moonves is out at the network he’s led for more than 20 years. While his exit has been in the works for some time, a report out yesterday detailing new...more