Various news sources, including Reuters, are reporting that the People’s Bank of China has issued a joint statement with other Chinese regulators proclaiming that ICOs in China are illegal. See the Reuters article here: China hits booming cryptocurrency market with coin fundraising ban. The statement further directs Individuals and organizations…
Today the SEC issued an Investor Alert warning investors about companies asserting they are engaging in an ICO, when in fact it is a scam. Specifically, “The SEC’s Office of Investor Education and Advocacy is warning investors about potential scams involving stock of companies claiming to be related to, or…
Goodwin has recently joined the Enterprise Ethereum Alliance (EEA) Legal Industry Working Group alongside 13 other leading law firms and academic institutions, bringing together top global law firms and leading legal minds to explore building enterprise-grade applications on Ethereum. The rapid growth of the EEA Legal Industry Working Group is…
The Securities and Exchange Commission (SEC) announced on Tuesday, July 25, 2017, that Initial Coin Offerings (ICOs) and other market participants offering digital assets by “virtual” organizations may be subject to the requirements of federal securities laws. The SEC made clear that simply because there is new technology involved, the SEC still…
The SEC has issued long awaited guidance regarding token sales, also referred to as ICOs. We will issue a summary of this guidance shortly, but in the interim please find the links to the SEC’s press release, investigative report, and public statement from the SEC’s Divisions of Corporation Finance and Enforcement….
The U.S. Commodity Futures Trading Commission (CFTC), showing continued regulatory interest in digital currency companies, issued an Order and settled charges against Hong Kong-based digital currency exchange Bitfinex. The CFTC found that Bitfinex was offering illegal off-exchange financed retail commodity transactions in bitcoin and other cryptocurrencies, and failed to register…
Recently, we had the chance to chat with Stan Stalnaker about one of the foundational digital currencies, Ven. If Bitcoin started as the rebellious, unstable youngster of the digital currency world, Ven, in contrast, is the environmentally friendly adult with a savings account. Ven was one of the early digital…