On September 15, 2020, the SEC announced a settlement with Unikrn, Inc. (“Unikrn”)—an online eSports gaming and gambling platform based in Washington State—in connection with the SEC’s finding that Unikrn had conducted an unregistered offering of securities in violation of
Digital Currency + Blockchain Perspectives
Digital Currency + Blockchain Perspectives, published by Goodwin Procter, focuses on legal developments and regulatory issues in the digital currency and blockchain sectors. The blog covers enforcement actions, compliance requirements, litigation trends, and regulatory rule changes affecting cryptocurrency exchanges, digital asset commodities, and blockchain technology. It also discusses industry standards and frameworks such as those from the International Swaps and Derivatives Association (ISDA). The content addresses the intersection of financial regulation, anti-money laundering, market conduct, and emerging legal challenges in the evolving digital asset landscape.
Latest from Digital Currency + Blockchain Perspectives - Page 6
Gold Is The New Bitcoin
In 2020, the price of gold has jumped over 30 percent from $1,517 per ounce on January 3, 2020 to over $2,000 per ounce on August 6, 2020. The spike in the price of gold isn’t yet at the level…
New York Department of Financial Services Announces New Virtual Currency Initiatives
On June 24, 2020, New York’s Department of Financial Services (“DFS”) announced a series of steps it is taking to promote development and opportunities in the virtual currency space. These actions would build upon New York’s “BitLicense,”…
SEC Commissioner Peirce Not Skating Around Her Views on Telegram Settlement
By Nick Losurdo
Never one to hold back, especially when it comes to crypto and blockchain matters, SEC Commissioner Peirce recently explained her views on the SEC’s settlement with Telegram and the agency’s approach to regulating the crypto and blockchain ecosphere generally. Simply…
OCC Confirms National Banks And Federal Savings Associations May Provide Cryptocurrency Custody
On July 22, 2020, the Office of the Comptroller of the Currency (OCC) issued an interpretive letter confirming that national banks and federal savings associations (banks) may provide cryptocurrency custody services to customers. The conclusion that banks may provide such…
FINRA (Again) Encourages Members to Report Digital Asset Activities
By Nick Losurdo
U.S. broker-dealer activity involving digital assets could implicate various FINRA rules in addition to federal and state securities laws and SEC rules. As most readers likely know by now, whether this activity is of interest to or subject to the…
SEC Wins Injunctive Relief To Prevent Telegram’s Distribution of $1.7B Worth of Cryptocurrency
In a recent decision in Securities and Exchange Commission v. Telegram Group Inc. and TON Issuer Inc., the United States District Court for the Southern District of New York granted a motion for a preliminary injunction by the United States Securities and
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Goodwin Releases Publication Covering Recent U.S. Regulatory and Legal Developments in Digital Currency + Blockchain
2019 was a year of significant regulatory and legal developments in digital currency + blockchain. The SEC issued its most comprehensive guidance to date with its Framework for “Investment Contract” Analysis of Digital Assets, followed that up with three “no…
Nick Losurdo Rejoins Goodwin from Securities Exchange Commission
Goodwin is pleased to announce that Nick Losurdo has re-joined the firm as a partner in its financial industry group, and a member of its digital currency and blockchain technology practice. Over the past 17 months, Nick has served as…
SEC Commissioner Peirce Proposes Safe Harbor for Blockchain Developers
Speaking at the International Blockchain Congress in Chicago on February 6, 2020, SEC Commissioner Hester Peirce proposed a safe harbor from U.S. securities laws so that developers of blockchain protocols could offer and sell tokens for the purpose of developing…