News & Analysis as of

Securities Fraud Howey Digital Assets

Latham & Watkins LLP

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

Latham & Watkins LLP on

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

Winstead PC

Judge Rules That Terraform’s Crypto Assets are Securities

Winstead PC on

Last year, the Court in SEC v. Terraform Labs suggested, by denying the defendants’ motion to dismiss, that the sale of a digital asset to the public on a secondary market may constitute a security. Now, the Court has...more

Snell & Wilmer

Enforcement Action by the SEC Heightens Regulatory Uncertainty Surrounding Crypto Assets

Snell & Wilmer on

A recent action brought by the U.S. Securities and Exchange Commission (“SEC”) against a former Coinbase employee for insider trading in crypto tokens (the “Wahi Action”) highlights the lack of certainty surrounding the...more

Eversheds Sutherland (US) LLP

Company’s NFT gamble goes bust

On April 13, 2022, the Texas State Securities Board and Alabama Securities Commission issued separate emergency cease and desist orders (C&Ds) against Sand Vegas Casino Club and its two co-founders (Respondents). The C&Ds...more

Faegre Drinker Biddle & Reath LLP

U.S. District Judge Rejects Argument that Sale of “Stand-In” Tokens Was Not a Sale of Unregistered Securities

On January 8, 2021, Judge Richard Seeborg of the United States District Court for the Northern District of California issued an Order denying a motion to dismiss in S.E.C. v. NAC Foundation, LLC, et al. The U.S. Securities &...more

Proskauer - Blockchain and the Law

Warning Shot: Charges Against OneCoin Include Securities Fraud

In early March, the Manhattan U.S. Attorney unsealed indictments against the leaders of the Bulgarian-based “purported” cryptocurrency “OneCoin” on wire fraud, money laundering and federal securities fraud charges relating to...more

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