On July 13, 2023, in a highly anticipated decision for the cryptocurrency industry, a Southern District of New York court granted in part and denied in part the parties’ cross
Continue Reading SEC v. Ripple Labs, Inc., et al.: A Turning Point in Cryptocurrency Jurisprudence?
On May 17, 2023, Prometheum Ember Capital LLC (Prometheum Ember Capital), a subsidiary of Prometheum Inc., received approval from the Financial Industry Regulatory Authority (FINRA) to
Continue Reading FINRA Approves Prometheum Ember Capital LLC to Operate as Special Purpose Broker-Dealer for Digital Assets
On Dec. 14, 2022, the SEC announced charges against eight social media influencers in a $100 million securities fraud scheme in which they allegedly used social media platforms to tout
Continue Reading 8 Influencers Charged in $100 Million Securities Fraud Scheme
On Nov. 7, 2022, the U.S. District Court for the District of New Hampshire granted the Securities and Exchange Commission’s motion for summary judgment in SEC v. LBRY, Inc.
Continue Reading SEC v. LBRY, Inc.: The SEC’s Latest Crypto Victory
On Dec. 12, 2020, the U.S. Securities and Exchange Commission brought what crypto followers consider one of the most consequential enforcement actions related to the sale of cryptocurrency since the
To Kim Kardashian’s fans and followers, her endorsement of a product signals the product is on trend. However, when a simple post endorsing cryptocurrency goes out to the world, it
Continue Reading SEC Charges Kim Kardashian with Violating Anti-Touting Law, Signals to Celebrities that Payments for Endorsements Must Be Disclosed
On June 8, 2022, the New York State Department of Financial Services (DFS) issued a new Regulatory Guidance, setting foundational criterial for USD-backed stablecoins used by DFS-regulated entities. This
Continue Reading NYDFS Becomes First US Financial Regulator to Issue Stablecoin Expectations to Virtual Currency Industry
On June 7, 2022, U.S. Sens. Cynthia Lummis (R-WY) and Kirsten Gillibrand (D-NY) introduced the Lummis-Gillibrand Responsible Financial Innovation Act (RFIA), a bill that would create the first comprehensive regulatory
Continue Reading The Responsible Financial Innovation Act: A Comprehensive Proposal to Regulate Digital Assets
On Feb. 14, 2022, the Securities and Exchange Commission (SEC) charged crypto lending platform BlockFi Lending LLC (BlockFi) with (1) failing to register the offers and sales of its crypto
Continue Reading SEC’s BlockFi Order Signals Further Scrutiny of DeFi
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