Blockchain

SEC Issues Guidance Regarding Application Of Securities Laws to Blockchain Technologies

On November 16, 2018, the Divisions of Corporation Finance, Investment Management, and Trading and Markets of the U.S. Securities and Exchange Commission (“SEC”) issued a Statement on Digital Asset Securities Issuance and Trading, summarizing recent SEC enforcement actions “involving the intersection of long-standing applications of our federal securities laws and…

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SEC Reaches First Settlement in connection with an Unregistered Crypto Exchange

On November 8, 2018, the U.S. Securities and Exchange Commission (“SEC”) announced that it settled charges against Zachary Coburn, the founder of blockchain token trading platform EtherDelta, over operating an unregistered securities exchange1. The SEC’s cease-and-desist order to Coburn describes EtherDelta’s website as a user-friendly interface resembling online securities trading…

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The National Law Journal Names Goodwin’s Mitzi Chang + Grant Fondo 2018 Cryptocurrency, Blockchain and Fintech Trailblazers

The National Law Journal named partners Grant Fondo and Mitzi Chang to its 2018 Cryptocurrency, Blockchain and FinTech Trailblazers list. This inaugural award recognizes lawyers who are making great strides as finance and technology grow more and more entwined. Please click here to read The National Law Journal’s profile on Fondo and Chang.

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State and Federal Regulators Coordinate Efforts to Combat Crypto Fraud

This past week was a busy one for state securities regulators, the CFTC and the SEC as they continue their focus on rooting out fraud from the digital currency space and crypto- and blockchain-based ventures.  Noteworthy developments included (1) the North American Securities Administrators Association (NASAA) announcing a “cryptosweep” –…

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U.S. v. Zaslavskiy: DOJ and SEC Coordination in Enforcing the Securities Laws over Token Sales

In the fall of 2017, the United States Department of Justice (“DOJ”) and the Securities and Exchange Commission (“SEC”) each filed actions against Maksim Zaslavskiy for securities fraud in connection with two token offerings, through which he promised token purchasers profits from his companies’ investments in real estate and diamonds. …

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Goodwin at Boston Bar Association's Blockchain & Cryptocurrency Forum

On Wednesday, March 28th, a group from Goodwin’s Digital Currency + Blockchain Technology practice participated in the Boston Bar Association’s Forum on Blockchain & Cryptocurrency. The forum brought together attorneys and industry professionals for panel discussions on securities offerings and capital raising, financial services regulation, intellectual property, and securities law…

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Goodwin's Rein, Riley & Tran Publish Article on Blockchain in Intellectual Property Magazine

While the rise of cryptocurrencies has highlighted the usefulness of blockchain technology, involving the creation of decentralized, electronic ledgers to track transactions, this technology is applicable to other fields, including financial services and pharmaceuticals. Contemporaneously, the number of pending US patent applications that incorporate blockchain technology has increased dramatically. But…

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New York Department Of Financial Services Issues Crypto Guidance; Outlines Enhanced Reporting Requirements

On February 7, 2018, the New York State Department of Financial Services (NY DFS) issued guidance to all virtual currency businesses that maintain a “BitLicense” or that are chartered as a limited purpose trust company under New York Banking Law (collectively, VC Entities), including those that maintain a money transmitter…

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