On October 8, 2020, the Department of Justice’s Cyber-Digital Task Force (DOJ) published “Cryptocurrency: An Enforcement Framework” (the Framework), which provides DOJ’s perspective on emerging law enforcement issues and challenges
Continue Reading DOJ’s Cryptocurrency Framework: A New Perspective?
This practice note covers recent market trends in distributed ledger/Blockchain capital funding and regulation. It focuses on the legal framework for capital formation using distributed ledger/Blockchain technology to enable offerings
Continue Reading Market Trends 2019/20: Blockchain Security Token Offerings (STOs) – Regulations, Risks, Opportunities, and Potential for Riches
Barbara A. Jones, co-chair of global law firm Greenberg Traurig, LLP’s Blockchain Group, has been selected as a Law360 2020 Fintech MVP. Law360 reports that its MVP of
Continue Reading Greenberg Traurig’s Barbara A. Jones Named Law360 2020 MVP for Fintech
On Sept. 25, 2020, the SEC issued a No-Action Letter to FINRA, in response to a previously issued Joint Statement by the SEC and FINRA. This No-Action Letter detailed how
Continue Reading SEC Issues No-Action Letter Facilitating the Secondary Trading of Digital Assets
In March 2020, a Southern District of New York court issued a significant decision in Securities and Exchange Commission v. Telegram Group Inc. et al., strengthening the U.S. government’s
Continue Reading Another Significant Cryptocurrency Decision: SEC v. Kik Interactive Inc. and Token Offerings Under the Securities Laws
On Sept. 21, 2020, the Office of the Comptroller of the Currency (the OCC) issued guidance pertaining to whether national banks could hold stablecoin reserves. That same day, the Securities
Continue Reading The OCC and SEC’s FinHub Issue Guidance on Fiat-Backed Stablecoin Reserves
Gibraltar-based INX Ltd. (the Company) launched its U.S. initial public offering of INX security tokens (INX Tokens) on August 20, 2020, over two years after the July 2018 confidential filing with the Securities and Exchange Commission of its initial draft registration statement on Form F-1. The INX registration marks the first registered offering of security tokens declared effective by the Commission. Prior to INX, at least two other issuers successfully qualified security token offerings with the Commission under the Regulation A, Tier 2 offering exemption. The 130,000,000 INX Tokens are being offered directly to the public in a self-underwritten offering by officers and directors of the Company, with minimum investment requirements to participate.
Continue Reading Gibraltar-Based INX Ltd. Launches SEC-Registered Security Token IPO
On August 1, 2020, Louisiana became the second state, after New York’s BitLicense rule finalized in 2015, to adopt regulations that require licensure for businesses conducting virtual currency transactions in
Continue Reading Louisiana Becomes Second State to Implement Virtual Currency Regulations
In 2015, the New York Department of Financial Services (NYDFS) finalized rules creating the BitLicense for virtual currency exchanges operating in New York state. New York is currently the only
Continue Reading New York State Department of Financial Services Proposes Framework for a Conditional BitLicense
As another sign of the times, but arguably quite apt given the subject matter, the Consensus Blockchain Conference convened virtually in 2020, with Financial Crimes Enforcement Network (FinCEN) Director Ken
Continue Reading FinCEN Director Confirms Enforcement Focus on Virtual Currency AML Compliance