China Bans Crypto Currencies and Related Services
The People’s Bank of China (“PBOC”) announced this morning that it is banning crypto currencies and related services, including “trading, order matching, token issuance and…
Blockchain & E-Transactions Law
Tuesday’s Rising Regulatory Chorus On Crypto
This past Tuesday, September 21, the chorus calling for more regulation over crypto reached a sort of crescendo. The SEC Earlier, in September 14 testimony…
All Eyes on Digital Assets
The price of Bitcoin recently topped $57,000. New York’s Attorney General issued an Investor Alert on Virtual Currency Risks, as did the SEC’s Division of…
DTCC Proposes Path to T+1 Settlement Cycle in Two Years
The Deposit Trust & Clearing Corp. (“DTCC”) released a February 24 roadmap for shortening the settlement cycle for US equities by half over the next…
Remote Work The New Normal: SIFMA Proposes Broad Rule Revisions
The Securities Industry and Financial Markets Association (“SIFMA”) recently proposed sweeping modernization of industry self-regulatory rules to reflect firms’ successful pivot to remote operations over…
CFTC Final Guidance on “Actual Delivery” CEA Exemption for Cryptocurrency
The Commodity Futures Trading Commission’s (“CFTC”) Final Interpretive Guidance on the “actual delivery” exception to regulatory jurisdiction for digital assets became effective June 24, 2020. …
Paxos Starts Blockchain Settlement of US Equities
Paxos Settlement Service announced February 20, 2020, that it has commenced P2P settlement of US-listed equity trades over a private, permissioned blockchain with Credit Suisse…
FINRA-DR Postpones In-Person Hearings
Securities regulator FINRA has postponed all in-person arbitration, mediation, and disciplinary hearings through May 1, due to COVID-19 concerns. All other case deadlines remain unaffected. …
Social Media Crypto “Influencer” Not Above the Law
Former Louisiana deputy sheriff and Russian resident Steven Seagal agreed to a Cease and Desist (“C&D”) Order by the SEC, finding violations of the non-touting…
Proposed SEC Rule 195 Token Incubation Safe-Harbor
SEC Commissioner Hester Peirce earlier this month proposed a draft SEC Rule 195 as a safe-harbor for developmental token offerings, providing a registration exemption for…