The SEC’s Division of Trading and Markets and the Office of the General Counsel of FINRA (Financial Industry Regulatory Authority) published on July 8, 2019, a joint staff statement (Custody
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Blockchain Technology Task Force
SEC Clears First Two Regulated Token Offerings
In July 2019, the SEC qualified the first token offerings under Regulation A+, approving blockchain startup Blockstack’s bitcoin-like digital tokens on July 10, and live video streaming platform YouNow’s offering…
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SEC Issues ‘No-Action’ Letters Allowing Sales of Utility Tokens
By Barbara A. Jones & Rebecca G. DiStefano on
In a significant step forward for the cryptocurrency industry, the U.S. Securities and Exchange Commission issued its first “no-action” letter (NAL) to a U.S.-based company using utility tokens created for…
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New Regulations in Japan on Security Token Offerings
A bill to amend the Act on Settlement of Funds and the Financial Instruments and Exchange Act (FIEA) has passed both the upper and lower houses of Japan’s National Diet…
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Cryptocurrencies and Unclaimed Property: Potential Implications of State Escheat Laws for the Blockchain Technology Industry
The use of blockchain technology and the issuance of cryptocurrencies have grown considerably in recent years, inviting heightened scrutiny and regulation. While federal securities, tax, and other financial services regulatory…
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Florida Creates Blockchain Task Force to Study Benefits of Blockchain Technology
Posted in Blockchain, Blockchain Technology Task Force
On May 23, 2019, Florida Gov. Ron DeSantis signed SB 1024 (Florida Blockchain Bill) into law to establish the Florida Blockchain Task Force (Blockchain Task Force) within the Florida Department…
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Proposed Amendment to Japanese Crypto Asset Laws
A bill to amend the Japanese laws regulating cryptocurrency exchange businesses or financial instruments transactions, including the Act on Settlement of Funds (Settlement Act) and the Financial Instruments and Exchange…
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Blockchain & Cryptocurrency Newsletter – Winter 2019
By Greenberg Traurig on
2018 was a year of transformation for the blockchain industry. While the market continued to see technological advancements in smart contracts, platform functionality, scalability and security, regulators took a firmer…
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Colorado Digital Token Act Exempts Certain Cryptocurrency Transactions From Colorado Securities Laws
Colorado recently passed legislation that will facilitate the sale and transfer of digital tokens in Colorado. Under the Digital Token Act, Colorado businesses will be permitted to effect transactions involving…
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Financing Bitcoin: The Problem of Actual Delivery
By Matthew Frankle & Nora Wong on
The CFTC has asserted that Bitcoin is, and other virtual currencies may be, commodities under the Commodity Exchange Act. As such, pursuant to Section 2(c)(2)(D) of such Act, “off exchange”…
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