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Securities Exchange Act › Unregistered Securities › Blockchain

The Securities Exchance Act is a United States federal statute enacted in 1934 to govern the secondary securities trading market. In addition, the Securities Exchange Act established the Securities and Exchange... more +
The Securities Exchance Act is a United States federal statute enacted in 1934 to govern the secondary securities trading market. In addition, the Securities Exchange Act established the Securities and Exchange Commission (SEC), which is the primary regulatory agency enforcing federal securities laws. less -
Paul Hastings LLP

The SEC Alleges Software Provider to be a Broker and Underwriter in Continued Crackdown on the Crypto Industry

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On June 28, 2024, the Securities and Exchange Commission (“SEC”) filed a complaint alleging that Consensys Software, Inc. (“Consensys”), the developer of the MetaMask self-hosted wallet, acted as an unregistered broker...more

WilmerHale

Binance Ruling Spotlights Muddled Post-Morrison Landscape

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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

Seward & Kissel LLP

Leash the Kraken: SEC Sues Kraken

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On November 20, 2023, the SEC filed a complaint in the United States District Court for the Northern District of California against Payward, Inc. and Payward Ventures, Inc. which, together, do business as Kraken. The...more

Akin Gump Strauss Hauer & Feld LLP

The SEC’s Second NFT Enforcement Action: SEC v. Stoner Cats 2

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Key Point - Just over two weeks after the SEC announced the settlement of its first NFT enforcement action against Impact Theory, on September 13, 2023, the SEC announced its second NFT enforcement action against SC2, the...more

Eversheds Sutherland (US) LLP

New FINRA sweep targets crypto marketing

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As might be expected, FINRA appears to be aligning itself with the SEC in its assertion of jurisdiction over investments that may not, at the end of the day, be deemed securities. ...more

Holland & Knight LLP

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

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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

Morrison & Foerster LLP

A Busy Week For The SEC’s Enforcement Efforts In Crypto’s “Wild West”

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The Securities and Exchange Commission (“SEC”) brought three enforcement actions concerning digital assets in rapid succession in a week, underlining that the Division of Enforcement is as committed to crypto enforcement...more

Amundsen Davis LLC

Ripple Effect: SEC Lawsuit against Cryptocurrency Company May Provide Guidance For Crypto Industry

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On December 21, 2020, the Securities and Exchange Commission (SEC) filed a high-profile enforcement action against a major cryptocurrency company. The SEC complaint alleges violations of federal securities laws by defendant...more

Perkins Coie

Blockchain Week in Review - January 2020 #3

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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

Latham & Watkins LLP

2019 Digital Asset Regulatory Look Back (US Edition)

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It was a year filled with tantalizing tidbits and many loose ends. 2019 marked the 10th year since blockchain technology was released into the wild by its still unknown inventor, Satoshi Nakamoto, who mined the first bitcoin...more

Orrick - On the Chain

SEC Settles with BCOT on Alleged Violations of the Securities Act

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On December 18, 2019, the Securities and Exchange Commission announced settled charges against blockchain technology company Blockchain of Things Inc. (BCOT) for conducting an unregistered initial coin offering (ICO) of...more

McDermott Will & Emery

The SEC Takes Aim at Another Initial Coin Offering

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A recent complaint concerning KIK Interactive Inc. filed in the US District Court of the Southern District of New York reveals some SEC priorities for cryptocurrency enforcement actions. The complaint indicates that the SEC...more

Skadden, Arps, Slate, Meagher & Flom LLP

The Distributed Ledger: Blockchain, Digital Assets and Smart Contracts - April 2019

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In this issue, we examine the release of the much-anticipated Strategic Hub for Innovation and Financial Technology (FinHub) guidance for analyzing how U.S. federal securities laws apply to initial coin offerings, the...more

Proskauer - Blockchain and the Law

Gladius Escapes Fines for Unregistered ICO after Self-Reporting to the SEC

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On February 20, 2019, the SEC announced that it settled charges against Gladius Network LLC (“Gladius”) for failing to register non-exempt offers and sales of securities in violation of Sections 5(a) and 5(c) of the...more

White and Williams LLP

The SEC Expands Its Enforcement Efforts to Include Cryptocurrency Exchanges

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In an enforcement action filed on November 8, 2018, the Securities and Exchange Commission (SEC) ordered that 31-year-old Zachary Coburn, founder of the EtherDelta cryptocurrency exchange, cease and desist from operating the...more

Skadden, Arps, Slate, Meagher & Flom LLP

The Ever-Evolving Cryptocurrency Legal Landscape

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The market for cryptocurrencies and the current wave of initial coin offerings (ICOs) that seek to raise capital for blockchain-based projects have enjoyed a swell of popularity in recent years. U.S. regulatory agencies and...more

WilmerHale

SEC Confirms Certain ICOs Are Securities Offerings; Regulators Renew Focus on Cryptocurrencies

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What Is an ICO? An ICO, or initial coin offering, is the sale of virtual coins or tokens, often as a means of capital raising by startup companies that are involved in blockchain technology. Depending on the terms of the...more

Perkins Coie

Blockchain and Digital Token Update: SEC Releases Investigative Report and Investor Bulletin

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On July 25, 2017, the Securities and Exchange Commission (“SEC”) released groundbreaking materials relating to blockchain tokens. These materials provide significant and welcome insight to the SEC’s and its staff’s thinking...more

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