Search Results: Digital Assets

SEC Alleges "Crypto Asset Securities" Insider Trading; Case Has Significant Implications for the Digital Asset Industry

On July 21, 2022, the SEC charged three individuals with insider trading of digital assets via a scheme to trade ahead of multiple announcements regarding crypto assets being made available on a United States-based digital asset exchange at which one individual was a former product manager. In the complaint, the SEC identifies…

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Germany Introduces New Rules on Crypto Funds

Germany has introduced a new regulation on crypto fund units (Verordnung über Kryptofondsanteile – KryptoFAV), that allows fund managers to issue fund units on an electronic instead of a physical basis. The new rules come less than one year after the Fund Location Act (Fondsstandortgesetz) allowed institutional investors to invest…

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SEC Publishes Spring Rulemaking Agenda: Torrid Pace Continues; Crypto Framework Noticeably Absent

Goodwin’s Nicholas Losurdo and Christopher Grobbel shared a client alert about the SEC’s recently released Spring 2022 “Reg Flex” agenda, which provides a glimpse into how the agency will prioritize its resources over the coming six months from a policy and rulemaking standpoint. Notably absent from the agenda is any…

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"NFT Indictment” and The Trading of Digital Assets

Federal Bureau of Investigation Seal

In a recent BlockTribune article, Goodwin’s Grant Fondo, David Gardy Ermann, Yoona Lee, Frank DelPesce, and Ahmed Abdelhamid discuss the recent “NFT Indictment” by the United States Attorney’s Office for the Southern District of New York and the FBI in addition to providing practical advice for trading digital assets. Read…

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FinCEN Issues Report Addressing NFTs

On February 4, 2022, the Treasury Department’s Financial Crimes Enforcement Network (FINCEN) jumped into the regulatory discussion about non-fungible tokens (“NFTs”)—more with a whisper than a bang—in a report on its Study of the Facilitation of Money Laundering and Terror Finance Through the Trade in Works of Art. The report…

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tZERO ATS Settlement with SEC: Square Peg/Round Hole or Simple Failure to Follow Existing Rules?

On January 10, 2022, tZERO’s ATS settled a matter with the SEC in which it agreed to an $800,000 fine.  Given the size of the penalty and substantial attention on the SEC’s approach to regulating digital asset securities, readers may have thought that this would present a blockbuster set of…

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