Search Results: SEC

U.S. Crypto Regulation and the Digital Commodities Consumer Protection Act

Goodwin partner Grant Fondo was recently interviewed on CoinDesk TV in regards to the Digital Commodities Consumer Protection Act that was introduced on Wednesday, August 3, 2022. The proposed legislation suggests that the CFTC should control crypto spot markets, specifically bitcoin and ether, which the bill classifies as commodities. To…

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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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Is the SEC's Expansion of the "Exchange" and "Dealer" Definitions Part of the Agency's Crypto and DeFi Strategy?

In March 2022, the U.S. Securities and Exchange Commission proposed rules that would greatly expand the Exchange Act definition of “dealer” and essentially kill the distinction between dealers and traders long-recognized by the SEC. The likely outcome is that most proprietary trading firms will need to register with the SEC as…

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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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SEC Enforcement Broadens its Crypto Focus

Digital Currency Perspectives authors Alexis Coll-Very, Grant Fondo and Robert Tiefenbrun recently posted an alert regarding the SEC announcement that it settled charges against NVIDIA Corporation. The SEC has alleged that the company’s disclosures regarding the impacts of increased use of its gaming products by cryptocurrency miners were inadequate and…

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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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