Search Results: Tokens

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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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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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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