Tag Archives: Legal

The SEC Is Setting Up a New Office to Talk to ICO Startups

The U.S. Securities and Exchange Commission (SEC) is launching a new division with the goal of making it simpler for fintech startups – including those launching initial coin offerings (ICOs) – to navigate the legal implications of their products. Announced Thursday, the Strategic Hub for Innovation and Financial Technology (FinHub) will act as a central point for the securities… Read More »

U.S. Marshals to Auction $4.3 Million in Bitcoin Next Month

The U.S. Marshals have announced a plan to auction off nearly $4.3 million worth of bitcoin next month. The government agency said in an announcement on Wednesday that the sealed bid auction is for about 660 bitcoin that were forfeited in federal criminal, civil and administrative cases. Scheduled to start on Nov. 5, the auction requires would-be bidders… Read More »

New BitConnect Lawsuit Combines Previous Efforts Against Crypto Scam

Half a dozen lawsuits against the allegedly fraudulent cryptocurrency scheme BitConnect have now been combined into a single legal effort. According to court documents filed last Thursday, a new Amended Consolidated Class Action Complaint has been initiated in the U.S. District Court for the Southern District of Florida. The new class action – coming months following its shutdown… Read More »

CFTC Official Warns Smart Contract Designers Over Predictive Code

Smart contract coders could be held liable if they knowingly use blockchain technology to create functions that are deemed as predictive “event contracts,” according to a U.S. regulator. Speaking at an event in Dubai on Tuesday, Brian Quintenz, a commissioner at the U.S. Commodity and Futures Trading Commission (CFTC), explained his views on how old laws can be… Read More »

North Dakota Securities Regulator Issues Cease and Desists Against 3 ICOs

North Dakota’s securities watchdog is again taking action against ICO projects it alleges are operating illegally in the state. On Thursday, Karen Tyler, commissioner of the North Dakota Securities Department, issued cease and desist orders against three companies for offering “unregistered and potentially fraudulent securities in the form of ICOs.” The regulator alleged in a news release that the… Read More »

CFTC Chair Giancarlo Says Institutional Investors Will Help Crypto ‘Mature’

An influx of institutional investors to the cryptocurrency markets may help the space “mature,” U.S. Commodity Futures Trading Commission chair J. Christopher Giancarlo said Friday. The regulator discussed his agency’s efforts to regulate the cryptocurrency space with Fox Business, noting that there has been an increase in movement into the space, which he stated would help grow and… Read More »

Crypto Defender Spars With Famed Critic During US Senate Hearing

Advocacy versus skepticism. “Dr. Doom” versus “Captain Coin.” Whatever you want to call it, two divergent viewpoints on the topic of cryptocurrency collided before a group of U.S senators on Thursday. Economist Nouriel Roubini – famous for predicting the 2008 financial crisis testified about the blockchain and crypto ecosystems before the U.S. Senate Committee on Banking, Housing and… Read More »

Regulators Sue ICO Company That Falsely Claimed SEC Approval

The Securities and Exchange Commission said Thursday that it secured an emergency court order against an initial coin offering and its organizer who had claimed to have received approval from the agency. According to the Oct. 11 statement, Reginald Buddy Ringgold allegedly claimed that the ICO was given the green light by regulators. Ringgold and BlockVest, the agency said,… Read More »

PBoC Is Seeking Blockchain Talent to Help Build Its Central Bank Crypto

The People’s Bank of China (PBoC) is looking to recruit blockchain tech and legal experts as it continues development of its central bank digital currency. According to various employment ads posted on Tuesday, the central bank is currently hiring four engineers with expertise on system architecture, chip design, blockchain development and application, cryptography and security protocol design. Based on… Read More »

‘Doctor Doom’ vs Crypto: Here’s What to Expect in Congress Today

Famed economist Nouriel Roubini plans to strike a fiery tone on cryptocurrency and blockchain before a group of U.S. senators on Thursday. Roubini will testify before the U.S. Senate Committee on Banking, Housing and Urban Affairs alongside Coin Center director of research Peter Van Valkenburgh in a hearing entitled “Exploring the Cryptocurrency and Blockchain Ecosystem.” Announced last week,… Read More »