Category Archives: Cryptocurrency

New York Attorney General Sues to Shutter Cryptocurrency Trading Firm Coinseed

By Christopher Bosch on February 25, 2021 Posted in Cryptocurrency, Investigations and Enforcement

The Office of New York State Attorney General Letitia James (“NYAG”) has filed a lawsuit to shut down technology company Coinseed. The state has accused the firm of selling unregistered securities in the form of digital tokens and operating as an unregistered broker-dealer while making material misrepresentations about the company, its management team, and fees … Continue Reading

Office of the Comptroller of the Currency Affirms Authority of a National Bank to Provide Cryptocurrency Custody Services

By Shane Killeen and Sarah Aberg on July 31, 2020 Posted in Cryptocurrency

The Office of the Comptroller of the Currency (“OCC”) recently signaled its approval for banks to fully wade into the cryptocurrency custodian space. On in a July 22, 2020 interpretive letter, the OCC concluded that a national bank may provide cryptocurrency custody services on behalf of its customers, including by holding the unique cryptographic keys … Continue Reading

FinCEN Director Addresses COVID-19 Related Virtual Currency Issues at Consensus Blockchain Conference

By Sarah Aberg and Shane Killeen on May 20, 2020 Posted in Coronavirus, Cryptocurrency

On May 13, 2020, Financial Crimes Enforcement Network (“FinCEN”) Director Kenneth Blanco delivered remarks to the Consensus Blockchain Conference regarding the agency’s recent observations in connection with virtual currencies, including the current risks of criminal exploitation of virtual currency, significant issues FinCEN anticipates for virtual currencies in the future, and the industry’s compliance with the … Continue Reading

New Effort to Exempt Crypto Currency from Certain SEC, Tax and Other Regulatory Burdens

By James Gatto on April 19, 2019 Posted in Cryptocurrency, Securities and Exchange Commission

A new bill, the Token Taxonomy Act was introduced to congress to amend the Securities Act of 1933 and the Securities Exchange Act of 1934 to exclude digital tokens from the definition of a security, to direct the Securities and Exchange Commission to enact certain regulatory changes regarding digital units secured through public key cryptography, … Continue Reading

CFTC Cryptocurrency Enforcement Receives Further Judicial Support

By William Kane and Pavel Sternberg on October 11, 2018 Posted in Cryptocurrency

The Commodity Futures Trading Commission (“CFTC”) obtained an important court win and boost to its regulatory authority over Cryptocurrencies this month. A federal district court in Massachusetts recently issued a decision in CFTC v. My Big Coin Pay Inc. which affirmed the CFTC’s position that all virtual currencies are commodities and subject to CFTC jurisdiction.[1] … Continue Reading

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