Search Results: test Digital Assets

BitMEX Founder’s Charges Highlight Risks for DeFi

***This article was originally published in CoinDesk and can be found here – https://www.coindesk.com/bitmex-risks-for-defi  In October, the Commodity Futures Trading Commission (CFTC) and the U.S. Department of Justice (DOJ) filed enforcement actions against the entities and individuals that own and operate the Bitcoin Mercantile Exchange (BitMEX), a trading platform for cryptocurrency…

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Department of Justice Announces “Cryptocurrency: An Enforcement Framework"

On October 8, 2020, the Attorney General’s Cyber Digital Task Force announced the release of a publication entitled Cryptocurrency: An Enforcement Framework (the “Enforcement Framework”).  The Enforcement Framework describes the DOJ’s three areas of focus for illicit activity involving cryptocurrency:  (1) financial transactions associated with the commission of crimes; (2)…

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SEC Announces Settlement with Unikrn, Peirce Issues Statement in Opposition

On September 15, 2020, the SEC announced a settlement with Unikrn, Inc. (“Unikrn”)—an online eSports gaming and gambling platform based in Washington State—in connection with the SEC’s finding that Unikrn had conducted an unregistered offering of securities in violation of Sections 5(a) and 5(c) of the Securities Act.  According to…

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New York Department of Financial Services Announces New Virtual Currency Initiatives

On June 24, 2020, New York’s Department of Financial Services (“DFS”) announced a series of steps it is taking to promote development and opportunities in the virtual currency space.  These actions would build upon New York’s “BitLicense,” a virtual currency licensing regime implemented in 2015 that establishes minimum standards for…

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SEC Commissioner Peirce Not Skating Around Her Views on Telegram Settlement

Never one to hold back, especially when it comes to crypto and blockchain matters, SEC Commissioner Peirce recently explained her views on the SEC’s settlement with Telegram and the agency’s approach to regulating the crypto and blockchain ecosphere generally. Simply put, Peirce disagreed with the Telegram settlement.  In her words:…

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FINRA (Again) Encourages Members to Report Digital Asset Activities

U.S. broker-dealer activity involving digital assets could implicate various FINRA rules in addition to federal and state securities laws and SEC rules.  As most readers likely know by now, whether this activity is of interest to or subject to the jurisdiction of U.S. securities regulators (both federal and state) largely…

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Rensel v. Centra Tech, Inc., No. 17-cv-24500, 2019 WL 6828270 (S.D. Fla. Dec. 13, 2019)

On December 13, 2019, the U.S. District Court for the Southern District of Florida granted the plaintiffs’ motion for default judgment in a putative securities class action against Centra Tech, Inc. (“Centra Tech”). The putative class action complaint alleged that the defendants violated Sections 12(a) and 15 of the Securities…

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