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In this issue: • U.S. and International Governments Address Smart Ports, Smart Cities, and CryptocurrenciesBlockchain Enterprise Developments in Wine, Journalism, Real Estate and MiningBlockchain Tokens Backed by Real-World Assets Appear to Grow in PopularitySEC Enforcement Actions Announced, New Data on Cryptocurrency Hacks Published U.S. and International Governments Address Smart Ports, Smart Cities, and Cryptocurrencies By: Taylor Thompson According to reports, in an Oct. 3 meeting, representatives of U.S. Customs…
Over the past year, the plaintiffs’ bar and Securities and the Exchange Commission (SEC) have brought class and enforcement action proceedings, respectively, against those involved with the issuance and marketing of initial coin offerings (ICOs), including those located outside the United States. The proceedings involving foreign defendants present the interesting and threshold issue in these litigations of whether personal jurisdiction in U.S. courts exists over these defendants. Until recently it was unclear how courts would…
In this issue: • New Solutions Seek to Bring Cryptocurrencies Closer to Mainstream Blockchain Developments for Shipping, Food, Pharmaceuticals and Diamonds Cryprocurrency Scams and Enforcement Actions Perpetuate Uncertainty Analysis: Tezos Securities Class Action Survives Motion to Dismiss New Solutions Seek to Bring Cryptocurrencies Closer to Mainstream By: Jaime B. Petenko This past week, a leading operator of global exchanges, clearing houses, data and listing services announced that it has partnered with a…
Last summer, the Securities and Exchange Commission (SEC) issued its 21(a) report concluding that, according to the U.S. Supreme Court decision in SEC v. W.J. Howey Co., the DAO token qualified as a “security” under the federal securities laws and thus, its offering had to either be registered with the SEC or subject to a valid exemption from registration. While many commentators have focused on the implications of Howey on initial coin offerings (ICOs), few…
As many of you know, last April the SEC issued the Cybersecurity Examination Initiative to assess the cybersecurity practices and preparedness of registered broker-dealers and investment advisers. The initiative arose from an SEC-sponsored Cybersecurity Roundtable held on March 26, 2014, which discussed the growing cybersecurity threats to our financial markets and intermediaries. Now, some nine months into its National Examination Program, the SEC earlier this week issued a risk alert titled “Cybersecurity Examination Sweep
Every company, whether public or private, has exposure to potential data breach or theft of confidential information. When this occurs, various state and federal regulatory organizations have jurisdiction over ensuring that there is prompt, corrective, and remedial action taken by the company whose systems have been compromised. Much of the focus of articles and commentary has been on the Federal Trade Commission and its enforcement of these violations. However, another important agency to understand both…