Search Results: test Bitcoin

SEC Exams To Focus On ICOs And Cryptocurrency

On February 7, 2018, the SEC’s Office of Compliance Inspections and Examinations (OCIE) announced its 2018 Examination Priorities.  In what comes as no surprise, the exam priorities include initial coin offerings (ICOs) and cryptocurrency, stating the following: “The cryptocurrency and ICO markets have grown rapidly and present a number of…

Read More

SEC and CFTC Enforcement Directors Issue Joint Statement Regarding Virtual Currency Enforcement Actions

On January 19, 2018, SEC Co-Enforcement Directors Stephanie Avakian and Steven Peikin and CFTC Enforcement Director James McDonald issued the following joint statement regarding virtual currency enforcement actions: “When market participants engage in fraud under the guise of offering digital instruments – whether characterized as virtual currencies, coins, tokens, or…

Read More

FINRA Targets ICOs and Digital Currencies in Annual Broker Exam Priorities Letter

On January 8, 2018, the Financial Industry Regulatory Authority (FINRA) released its 2018 Annual Regulatory and Examination Priorities Letter (Exam Priorities Letter) for its broker-dealer members.  In the Exam Priorities Letter, FINRA addresses initial coin offerings (ICOs) and digital currencies, stating the following: “FINRA will closely monitor developments in this…

Read More

The Future of Bitcoin is Here (Literally): Crypto Derivatives Have Gone Mainstream!

Major derivatives market operators CBOE Holdings and CME Group have jumped into the digital currency fray within the last two weeks by launching cash-settled bitcoin futures contracts (1).  The exchanges recently cleared de facto regulatory hurdles when the Commodity Futures Trading Commission (CFTC) announced the completion of the exchanges’ “self-certification”…

Read More

Goodwin's Fondo to Speak at MIT Club of Northern California Event on Blockchain + Cryptocurrency

Part of their “View From the Top” series, the MIT Club of Northern California will host a night of networking and an informative panel discussion titled “Blockchain, Bitcoin, Cryptocurrency and ICOs” on Wednesday, December 6, 2017 at the Intercontinental San Francisco. Panel discussion topics include: what is a cryptocurrency and…

Read More

CFTC and the Bitcoin Give and Take

Recently, the U.S. Commodity Futures Trading Commission (“CFTC”) granted LedgerX, LLC, registration as a derivatives clearing organization (“DCO”) under the Commodity Exchange Act, and with it, the right to clear fully collateralized digital currency swaps, subject to applicable law.  It became the “first federally regulated Bitcoin options exchange and clearinghouse to list…

Read More

Is a Bitcoin ETF Destined For Failure?

For the last three and a half years, the Securities and Exchange Commission (“SEC”) has been considering whether to approve placement of the Winklevoss bitcoin ETF (“COIN”) on the Bats exchange. However, the SEC’s inaction will end by March 11th, which is the SEC’s deadline to either reject COIN, or have it be automatically approved due to the…

Read More