On April 3th, 2019 the US Securities and Exchange Commission staff released a “Statement on Framework for “Investment Contract” Analysis of Digital Assets” and the first no-action letter.
On April 25, 2019, the New York Office of the Attorney General (“OAG”) announced that it obtained a court order against the operators of Bitfinex demanding the online digital asset exchange turn over a plethora of important documents related to previous subpoenas the OAG issued to Bitfinex. The order’s accompanying petition alleges that Bitfinex “borrowed” funds from its affiliate, Tether, the … Read More
Blockchain technology, if you believe the hype, is going to revolutionize, well, everything. In an effort to bring a little sobriety to the Blockchain party, Forbes last year identified ten industries in which Blockchain genuinely seemed likely to disrupt the status quo. Banking, healthcare, and politics topped the list. Alas, Forbes failed to spot Blockchain’s actual highest and best use, … Read More