Popular, Token Sales

SEC v. Ripple Decision Makes Waves in Digital Assets Enforcement

Fenwick & West LLP on 8/13/2024

On August 7, 2024, nearly four years after the SEC filed its complaint alleging Ripple sold XRP in unregistered securities transactions in violation of Section 5 of the Securities Act, the district court issued its final...more

New York Federal Judge Orders $125 Million Penalty Against Digital Asset Infrastructure Company

A&O Shearman on 8/13/2024

On August 7, 2024, a digital asset infrastructure company (the “Company”) was ordered to pay a $125 million civil penalty for its failure to register institutional sales of its XRP token with the Securities and Exchange...more

Weekly Blockchain Blog with Client Alert - August 2024 #2

BakerHostetler on 8/12/2024

Crypto Offerings Launch by Major Investment Bank, Asset Manager and Insurer - According to a recent report, a major multinational investment bank and financial services firm is now allowing its investment advisors to pitch...more

Ruling for SEC Clears Path for Continued Litigation in SEC v. Coinbase

Latham & Watkins LLP on 4/18/2024

The decision, which addresses a broad range of market activity by Coinbase relating to 13 third-party tokens, could have significant implications for market participants. On March 27, 2024, Judge Katherine Failla of the US...more

Weekly Blockchain Blog - April 2024 #2

BakerHostetler on 4/8/2024

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

Hot Topics in International Trade - February 2024 - Assessing the Benefits and Challenges of Tokenizing Real World Assets

Braumiller Law Group, PLLC on 2/7/2024

The world of cryptocurrencies on blockchains and the world of traditional assets in markets have often stood in stark contrast to one another since Bitcoin’s creation in 2008. The lack of a reliable bridge between these two...more

Banks Announce Stablecoin and Custody Initiatives; IRS CI Report Addresses Crypto; DOJ Targets Unlicensed Exchange; New Data...

BakerHostetler on 12/11/2023

Major Banks and Technology Firms Launch Stablecoin and Custody Products - According to recent reports, a major European bank has launched its own stablecoin, “becoming the first big bank to offer digital tokens tracking...more

Consumer & Retail goes Phygital – are digital and physical assets converging?

White & Case LLP on 10/10/2023

The Consumer & Retail Industry has been an early champion of the benefits of Web 3 concepts like NFTs (non-fungible tokens) and the metaverse, helping retailers to drive sales and growth and supercharge brand awareness. NFTs...more

NYDFS Proposes Updated Guidance on Crypto Listing

Latham & Watkins LLP on 10/6/2023

The Proposed Guidance would require enhanced criteria for coin-listing and delisting procedures for New York-licensed virtual currency entities. On September 18, 2023, the New York Department of Financial Services (DFS)...more

SEC Charges Richard Heart and His Three Cryptocurrency projects – Hex, PulseChain, and PulseX

The Volkov Law Group on 8/17/2023

On July 31, 2013, the Securities and Exchange Commission (“SEC”) formally charged the enigmatic crypto-personality Richard Heart (whose real name, as I learned from the complaint, is Richard Schueler) and his three...more

Analyzing Blockchain Transactions To Understand and Establish Fact Patterns

Cornerstone Research on 8/16/2023

Blockchain analysis is a powerful tool that provides insight into what is happening on a blockchain network. Who is trading with whom? Which wallets are most active on decentralized finance exchanges? Which wallets are...more

A Ripple of Doubt

Holland & Knight LLP on 8/11/2023

Specifically, the SEC wants a change to persuade the U.S. Court of Appeals for the Second Circuit – now, not later – of its view that Torres got it wrong when she determined that the company's offer and sale of its XRP token...more

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

BakerHostetler on 8/10/2023

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

Crypto as a Security – Applying the Howey Test

Barnea Jaffa Lande & Co. on 8/7/2023

A US court recently handed down a landmark ruling addressing the question of whether the crypto token XRP falls under the definition of “security”. The US court ruled that the same crypto token may be classified differently...more

SDNY Order Clouds the Water on SEC Crypto Jurisdiction

Kohn, Kohn & Colapinto LLP on 8/4/2023

On July 13th, Judge Analisa Torres of the United States District Court for the Southern District of New York entered an order that was quickly celebrated by the crypto world (SEC v. Ripple Labs, Inc., No. 20CIV10832ATSN;...more

Ripple’s Legal Waves: Ripple Summary Judgment Ruling Could Have Wide-Ranging Impact

Winstead PC on 7/31/2023

In a recent and highly anticipated decision, a court in the Southern District of New York held that Ripple’s cryptocurrency token – XRP – is not inherently a security. In a setback to the SEC, the court also held that...more

Ripple and the SEC Both Claim Wins in Split Court Decision

The Volkov Law Group on 7/27/2023

On July 13, 2022, Judge Analisa Torres issued her long awaited ruling on the summary judgment motions in the SEC’s case against Ripple Labs, Inc. (“Ripple”). The 34-page order provided a win for both the SEC and for Ripple...more

SEC Cryptocurrency Enforcement: June 2023 Update

Cornerstone Research on 7/26/2023

As of June 6, the SEC has brought 24 cryptocurrency enforcement actions between litigations and administrative proceedings. The number of cryptocurrency enforcement actions brought by the SEC in 2023 is advancing at a record...more

SEC v. Ripple: When a Security Is Not a Security

Holland & Knight LLP on 7/20/2023

In a monumental decision that will likely have substantial ramifications for crypto industry developers, securities practitioners, and millions of investors and token purchasers alike, on July 13, 2023, the U.S. District...more

The Ripple Effect: SEC’s Battle Vs. Crypto Gains Some Clarity

DarrowEverett LLP on 7/19/2023

The U.S. Securities and Exchange Commission (“SEC”) is paying considerable attention to the world of cryptocurrency (“crypto”). According to the SEC website, the SEC has brought more than 50 enforcement actions against crypto...more

Parting the Crypto Sea: Ripple’s XRP Ruled to be a Security When Sold to Private Investors, But Not When Sold on an Exchange

Farrell Fritz, P.C. on 7/17/2023

Judge Analisa Torres’ greatly anticipated Order in the SEC’s lawsuit against Ripple is a split decision. The Order basically finds that Ripple’s digital token XRP is a security when sold privately to individuals and...more

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