News & Analysis as of

FinTech Securities Act of 1933 Blockchain

WilmerHale

“Decentralized Finance (DeFi),” Fintech, Regtech, and the Financial Services Industry (Ch. 8A)

WilmerHale on

Decentralized Finance (DeFi) is an umbrella term used to describe financial services provided outside of the traditional markets, that rely on blockchain technologies to create innovative products instead of relying on...more

Proskauer - Corporate Defense and Disputes

The Ripple Effect: Implications of the SEC’s Partial Loss in SEC v. Ripple Labs Inc.

The SEC suffered a significant loss last week in its ongoing legal battle with Ripple over the XRP digital token. While the District Court held that Ripple’s initial sales of XRP to institutional investors constituted the...more

King & Spalding

Not Your Standard Orange Grove: Non-Fungible Tokens & Securities Laws

King & Spalding on

With offerings across a growing number of online platforms and increased trading volume, NFT issuers, promoters, and buyers should consider the legal and regulatory implications relating to NFTs and federal securities laws. ...more

Cooley LLP

Alert: SEC v. Telegram: Key Takeaways and Implications

Cooley LLP on

On March 24, 2020, Judge P. Kevin Castel of the U.S. District Court for the Southern District of New York granted the Securities and Exchange Commission’s (SEC) request for a preliminary injunction against Telegram Group Inc....more

Perkins Coie

Blockchain Week in Review - January 2020 #3

Perkins Coie on

U.S. Developments - Federal and State Regulatory Developments - Bill in Hawaii State Senate Addresses Digital Assets Including Authorization for Banks to Serve as Qualified Custodians - SB 2594 before the Hawaii...more

McDermott Will & Emery

SEC Division of Corporate Finance Issues Second No-Action Letter for a Blockchain Token Issuance

McDermott Will & Emery on

The SEC Division of Corporate Finance recently issued a no-action letter to Pocketful of Quarters, confirming that the Division will not recommend any enforcement action if the company sells its blockchain-based tokens...more

Goodwin

SEC Issues Warnings Regarding Celebrity-Promoted Coin Offerings and Moves Swiftly Against Unregistered ICOs

Goodwin on

The Securities and Exchange Commission (SEC) recently issued two warnings about investments sold on the basis of celebrity endorsements, including one relating to initial coin offerings (ICOs), and followed up with...more

Goodwin

Goodwin Alert: SEC Issues Long-Awaited Guidance

Goodwin on

The Securities and Exchange Commission (SEC) announced on Tuesday, July 25, 2017, that Initial Coin Offerings (ICOs) and other market participants offering digital assets by “virtual” organizations may be subject to the...more

Latham & Watkins LLP

SEC: Certain Initial Coin Offerings Are Securities Offerings

Latham & Watkins LLP on

SEC’s investigative report sends clear message that virtual transactions using innovative technologies are subject to the application of securities laws. Introduction - On July 25, 2017, the US Securities and Exchange...more

Wilson Sonsini Goodrich & Rosati

SEC Determines That Certain Virtual Tokens Are Securities

On July 26, 2017, the Securities and Exchange Commission (SEC) issued an investigative report concluding that certain tokens (or coins) offered and sold by The DAO, a virtual organization, were securities under the Securities...more

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