News & Commentary on Financial Regulatory and Compliance Matters
Rocky Mountain States Make Headway in Blockchain-Related Legislation
With Wyoming having become the first state to define “utility tokens” as a new asset class (see article in Blockchain & Cryptocurrency’s …
Continue Reading Recent Rocky Mountain State Law Blockchain Developments
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…
Continue Reading SEC/FINRA Joint Statement on Broker-Dealer Custody of Digital Assets
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…
Continue Reading SEC Clears First Two Regulated Token Offerings
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…
Continue Reading SEC Issues ‘No-Action’ Letters Allowing Sales of Utility Tokens
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…
Continue Reading New Regulations in Japan on Security Token Offerings
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…
Continue Reading Cryptocurrencies and Unclaimed Property: Potential Implications of State Escheat Laws for the Blockchain Technology Industry
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…
Continue Reading Florida Creates Blockchain Task Force to Study Benefits of Blockchain Technology
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…
Continue Reading Blockchain & Cryptocurrency Newsletter – Winter 2019
Companies across many different industries are starting to look toward blockchain technology as a way to conduct business more effectively, efficiently, and securely. As a result, there are new blockchain technology startups and strategic partnerships being established at break-neck speed. And, like any burgeoning industry, there seem to be new innovations introduced almost every day.
Continue Reading Will Patent Sharing Organizations Boost Blockchain Innovation?
The rise of blockchain technology ventures raising money preternaturally through initial coin offerings and token generation events (collectively, ICOs) is a capital formation disruptor, one which has and will continue…
Continue Reading Regulators Weigh in on Digital Assets, Tokens, Securities, and Derivative Instruments Used in ICOs
