Divya Taneja

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Divya Taneja is a corporate associate in the Technology, Media & Telecommunications Group whose practice focuses on technology, media and intellectual property transactions and counseling across a variety of industries.

Divya is a contributor to Proskauer’s New Media and Technology Law, Privacy Law and Blockchain and the Law blogs.

Divya graduated magna cum laude with a B.A. from Duke University and received a J.D. from the University of Michigan Law School. While in law school, she served as a student attorney in the Community and Economic Development Clinic.

Latest Articles

On December 10th, 2018, a U.S. District Judge for the District of New Jersey denied Latium Network, Inc. (“Latium”) and its co-founders’ motion to dismiss a class action alleging violations of Section 5 of the Securities Act of 1933 (the “Act”) for offering and selling unregistered securities in the form of Latium X (“LATX”) tokens.…
Recently at a conference in Dubai, Brian Quintenz, who is a Commodity Futures Trading Commission (CFTC) Commissioner, expressed his personal opinion (rather than the views of the CFTC) on the conceptual challenges in applying the CFTC’s regulatory oversight to, and fostering accountability for, smart contracts that reside on decentralized blockchains. In particular, Quintenz conveyed his belief that smart contract developers could potentially be held liable for aiding and abetting activity that violates CFTC regulations through…
In September 2018, the Securities and Exchange Commission (“SEC”) announced that broker-dealer and investment adviser Voya Financial Advisors Inc. (“VFA”) agreed to pay $1,000,000 to settle charges related to alleged failures in its cybersecurity policies and procedures relating to a data breach that compromised the personal information of 5,600 customers. The SEC charged VFA with violating Rule 30(a) of Regulation S-P (17 C.F.R. § 248.30(a)) (the “Safeguards Rule”) and Rule 201 of Regulation S-ID (17…
U.S. District Judge Raymond Dearie of the Eastern District of New York has ruled that initial coin offerings (ICOs) may be subject to securities law. The ruling came in the court’s denial of defendant Maksim Zaslavkiy’s motion to dismiss an indictment that alleges that he committed securities fraud for selling tokens that he claimed represented shares in a real estate venture and a separate diamond business. Zaslavskiy’s motion to dismiss argued that the investment schemes…
A class action lawsuit was filed on May 3rd against Ripple Labs Inc.—a fintech startup that controls the third-largest cryptocurrency in the world—and its CEO Brad Garlinghouse, alleging that Ripple sold unregistered, non-exempt securities in violation of federal and California state securities laws. In their complaint, Plaintiffs characterized the sale of XRP (Ripple’s native token) as “a scheme by Defendants to raise hundreds of millions of dollars through the unregistered sale of XRP” and…
In a March 23 news release, the IRS reminded taxpayers that income from virtual currency transactions must be reported on income tax returns, and that certain virtual currency transactions are taxable like any other property transactions. Taxpayers should note that despite the pseudo-anonymity of virtual currencies, the IRS has been able to successfully subpoena a major exchange for the accounts and information of thousands of holders. As the IRS news release highlighted, the consequences…
On March 16, 2018, the D.C. Circuit Court of Appeals released a long-awaited decision in ACA International, et al. v. FCC, unanimously ruling to narrow a 2015 Federal Communications Commission (FCC) order (the “2015 Order”) that expanded the scope of the Telephone Consumer Protection Act (TCPA). The TCPA is a federal law that governs marketing to telephones (including text messages) and fax machines, as well as the use of automatic telephone dialing systems (referred to…
CBOE Global Markets Inc. (CBOE) began trading CFTC-approved bitcoin futures on December 10th, and CME Group Inc. (CME) will begin trading them on December 18th. Bitcoin futures have generated significant attention as the first cryptocurrency-based derivative products to be traded on major U.S. exchanges. Bitcoin futures provide institutional and retail investors increased exposure to the asset class, allow existing market participants to hedge their exposure, enable short sales, and facilitate price discovery. Bitcoin futures mark…
In October, the U.S. Department of the Treasury (the “Treasury”) released its Annual Plan, outlining the Office of Inspector General’s audit and investigative priorities for fiscal year 2018. The Annual Plan notes that “digital currencies provide a potential money laundering instrument because they facilitate international payments without the transmittal services of traditional financial service,” and identifies determining “how FinCEN identifies, prioritizes, and addresses money laundering and terrorist financing risks associated with virtual currencies” as…