When #ad Is Not Enough
Kim Kardashian has recently joined the parade of celebrities targeted by financial regulators worldwide for their crypto endorsements. Here, IP attorneys Bryan Sterba and Matthew Savare explain what’s required to stay on the right side of the law when you’re being paid to shill crypto.
Nexo Stops Offering Earn Product to New U.S. Customers
In the wake of the recent $100 million BlockFi settlement with the SEC, and as the wider crypto-lending sector considers how to respond, Nexo has moved quickly - announcing it will no longer offer interest-bearing accounts for new U.S. customers.
SEC commissioner Hester Peirce proposes 3-year safe harbour provision for token projects
SEC Commissioner Hester Peirce wants to give crypto projects a three-year safe harbor allowing time for tokens to work towards passing the SEC’s securities evaluation processes.
SEC fines ICOBox for selling unregistered securities
The crackdown on the sale of unregistered securities continues with the SEC fining the ICO-as-a-service platform, ICOBox, $16 million for the violation of securities laws.
SEC issues IEO investor alert
The SEC issued an investor alert this week urging investors to use caution before investing in initial exchange offerings or IEOs.
Telegram’s rocky road to TON launch date
In 2018, Telegram conducted an ICO that reportedly raised $1.7 billion dollars. The private token sale involved the sale of GRAM tokens through SAFT agreements to accredited and institutional investors. The SEC deems the ICO a sale of unregistered securities.
Telegram founder to appear in U.S. court over GRAM token sale
A U.S. court has ruled that three Telegram employees - including CEO Pavel Durov - should testify in the case filed against the company by the Securities Exchange Commission.
SEC halts Telegram token sale, labels ‘Grams’ as securities
The SEC has taken abrupt action to halt the Telegram token sale just weeks before the company planned to launch its ‘Gram’ token. The crowdsale, which raised over $1.7 billion from institutional and accredited investors in the form of SAFT agreements, may have constituted the sale of an unregistered digital token offering.
Block.one settles with the SEC
Block.one has been fined $26 million by the U.S. Securities and Exchange Commission over its unregistered 2017 Initial Coin Offering. The fine is being interpreted as sending a mixed signal.
Is a Bitcoin ETF off the table for 2019?
In a presentation to the SEC last week, Bitwise made a last-ditch effort to gain approval of its Bitcoin exchange-traded fund (ETF). But with the withdrawal of the Van Eck Solid X ETF proposal, the chances of the Bitwise ETF being approved appear slim.
SEC Commissioner Hester Peirce speaks out against global regulatory framework
SEC Commissioner Hester Peirce says countries should develop individual regulatory frameworks for crypto assets and not rely on a global framework for all jurisdictions.
Blockstack and YouNow launch the first SEC approved token sales
Blockstack and YouNow are the first companies to receive official SEC qualification for their digital token offerings. The two blockchain projects are the first to receive regulatory approval to access the public U.S. securities markets.
Blockstack’s Brittany Laughlin guests on BNC podcast
On the heels of Blockstack’s historic SEC token raise approval, Blockstack’s Brittany Laughlin features on the latest episode of BNC’s new podcast ‘The Crypto Conversation’.
Regulators give nod to non-custodial exchanges
A new statement from the SEC and FINRA suggests that non-custodial exchanges may have a headstart when it comes to navigating regulatory issues.
New report makes case for greater regulatory oversight of crypto asset sector
A new report by blockchain intelligence firm CipherTrace provides insights into the state of the global crypto asset sector. The Q1 2019 Cryptocurrency Anti-Money Laundering Report makes the case for increased regulatory oversight as the industry matures.
Crypto attorneys weigh in on SEC token framework
The SEC’s “Framework for ‘Investment Contract’ Analysis of Digital Assets” aims to help answer the key question hovering over ICO project of when is a digital token a security? While early reviews are mostly positive, some crypto lawyers say more needs to be done.
