In a first of its kind enforcement action, the Commodity Futures Trading Commission (“CFTC”) is attempting to hold participating members of a decentralized autonomous organization (“DAO”) liable for alleged violations of the Commodity Exchange Act (“CEA”) and CFTC regulations. The CFTC argued (1) that the DAO is an unincorporated association;…
On August 15, 2022, the United States District Court for the Central District of California authorized the IRS to serve a “John Doe” summons on Ox Labs Inc., a cryptocurrency prime dealer doing business as SFOX. The John Doe summons calls for Ox Labs to divulge information about U.S. taxpayers who engaged in…
The crypto industry is still reeling from last week’s insider trading charges, filed by federal prosecutors in New York and the Securities and Exchange Commission against a former Coinbase employee and his associates. The obvious point first: these charges have got people talking about how prosecutors and regulators alike are…
Digital Currency Perspectives author, Nick Losurdo, recently posted an alert regarding the use of an emergency cease and desist order issued against individuals and a company using NFTs to finance multiple metaverse casinos. Read more here.
Please note, this is a summary to the article previously published on PYMNTS.com. Cryptocurrency crimes are under the microscope as the U.S. Department of Justice (DOJ) steps up enforcement efforts with the formation of the National Cryptocurrency Enforcement Team (NCET), according to a press release on Thursday (Oct. 7). The…
The past few weeks have ushered in signs of what’s likely to come from the SEC’s Division of Enforcement under the Biden Administration, including a greater number of investigations and a tougher path to “bad boy” waivers for issuers. The SEC’s enforcement program plays a critical role in the agency’s…
***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…
On August 27, 2019, the Federal Trade Commission (FTC) announced it had reached a $30 million settlement with an Illinois-based operator of for-profit post-secondary schools and related subsidiaries resolving allegations that the company used lead generators who engaged in deceptive conduct to market its schools in violation of Section 5(a) of the Federal Trade Commission…
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)…
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:…