US Regulators Use Carrots and Sticks For ICOs and Crypto Investments

Bitcoin, Blockchain and the Law | June 8, 2018 By:

US state and federal regulators recently offered carrots to guide market actors toward better behavior and are using the stick of enforcement actions to discourage fraud in ICOs and other cryptocurrency-related offerings.

 The US Commodity Futures Trading Commission (CFTC) recently issued guidance for the listing of virtual currency derivative products to registered exchanges and clearinghouses in Staff Advisory No.

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ICOs Avoiding US Citizens Not Immune To Lawsuits In US

Bitcoin, Blockchain and the Law, Opinion, Regulation | June 1, 2018 By:

Last summer, the Securities and Exchange Commission (SEC) issued its 21(a) report concluding that, according to the Supreme Court’s decision in SEC v. W.J. Howey Co., the DAO token qualified as a “security” under the federal securities laws and its offering had to either be registered with the SEC or subject to an exemption from registration.

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‘Operation Crypto-Sweep’ Initiated By Securities Regulators Against ICOs – Report

Bitcoin, Blockchain and the Law, Crime, ICO News, Investing, News | May 21, 2018 By:

United States and Canadian securities regulators have launched an investigation into at least 70 companies engaging in initial coin offerings (ICO), according to a Washington Post report.

The news came from members of the North American Securities Administrators Association, who said that nore than 40 state and provincial watchdogs are participating in “Operation Crypto-Sweep.”

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Crypto Exchanges Talking To Regulators About Banking Licenses – Report

Bitcoin, Blockchain and the Law, Investing, News, Regulation | May 21, 2018 By:

 At least two cryptocurrency exchanges have held discussions with US regulators about obtaining federal banking licenses, according to a report in the Wall Street Journal. If successful in obtaining the licenses, the exchanges would be able to expand their services and potentially create new pathways in the market.

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Former Prosecutor Laurel Rimon On Money Laundering: “What’s Identified Is A Fraction of What Goes On.”

Bitcoin, Blockchain and the Law, Crime, News, Regulation | May 14, 2018 By:

Banks and financial institutions are long accustomed to new and changing regulations aimed at preventing money laundering and terrorist financing. Now, a new set of Customer Due Diligence Requirements issued by FinCEN have taken effect.  

But for emerging “money services business” (MSB) – especially those engaged in cryptocurrency,

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A Wave of Lawsuits Looms For ICO Version 1.0 – Are You Prepared?

Bitcoin, Blockchain and the Law, ICO News, Regulation | April 20, 2018 By:

Initial coin offerings, or ICOs, have become a ubiquitous and much-discussed way for companies in the blockchain and digital currency space to fund themselves.  To date, by some estimates, more than $3 billion has been raised in ICOs, outpacing all venture capital raised in the United States in 2017.

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Blockchain Patenting Strategies – Some Basic Ammunition

Bitcoin, Blockchain and the Law, Blockchain, Education | April 17, 2018 By:

Clients will sometimes ask whether they can patent recording real estate deeds (or some other general business action) on the blockchain. My answer to this question in the context of today’s environment is a straightforward “no”. We are in the midst of a patenting frenzy around blockchain technologies and many of the basic ideas around implementing various legal,

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The Legal Requirements For A Compliant ICO In The US Are Unclear – Dror Futter

Bitcoin, Blockchain and the Law, Blockchain, ICO News, Investing, Regulation | April 13, 2018 By:

Rimon Law partner Dror Futter runs The Blockchain Patent Chronicle, a blog which provides timely summaries of developments in blockchain/distributed ledger technology patents. The patents are the earliest public indication of research and development in the blockchain ecosystem.

Naturally, that bully pulpit provides a vehicle for some strong opinions on the state of blockchain and cryptocurrency.

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