NY Office of the Attorney General Alleges Bitfinex Engaged in $850 M Fraud

WebContentCase Studies, Cryptocurrency, Market Rules & Responsibilities


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


Gretchen HelfrichCryptocurrency


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

General Data Protection Regulation and Blockchain Privacy

Gretchen HelfrichCryptocurrency

general data protection regulation

Despite the breathless excitement (and no small amount of weirdness) that surrounds blockchain technology, the predictions that it will revolutionize business remain just that – predictions.  Still, it probably makes sense to prepare for a blockchain world. European Union officials are trying to do that.

SEC Reaches Settlements with Two ICO Issuers

Gretchen HelfrichCryptocurrency, Market Rules & Responsibilities


In 2017, the Securities and Exchange Commission announced in the Report of Investigation on The DAO its view that digital tokens (or coins or certain cryptocurrencies) can be securities, subject to regulation by the SEC under the federal securities laws. Last month, it flexed its regulatory muscle.  For the first time, the SEC imposed civil penalties—of $250,000 each—on two companies … Read More

SEC Announces Penalties on First Cryptocurrency Fund

Zach ZiliakBest Practices, Cryptocurrency, Firm News

sec announces penalties on first cryptocurrency fund

Part 1 – Introduction On September 11, 2018, the Securities and Exchange Commission (SEC or the Commission) announced “public administrative and cease-and-desist proceedings” against Crypto Asset Management, LP (CAM) and Timothy Enneking (Enneking), the owner and manager of CAM. The ruling is notable as the Commission’s first order against a crypto-dominated investment fund, but also stands out because it provides … Read More

Experienced FinTech Law Firms in Demand as Blockchain Regulations Change


fintech industry law

Cryptocurrency and blockchain technology are currently hot topics  in the financial business world. Headlines regularly note trends and updates on virtual currency, its value, its regulation, and its future potential. As the digital currency market continues to mature, opportunities for related technologies emerge, the complexity of financial software increases, and new legal issues and applications of long-standing legal concepts surface. … Read More

Gibraltar Financial Services Commission Launches Blockchain Licenses in January

Lindsay AyersCryptocurrency, Market Rules & Responsibilities

using bitcoin technology

Regulation of cryptocurrencies and other financial technology innovations varies greatly across jurisdictions. While some countries take a hands-off approach to encourage growth of new industries, others seek to control markets to protect investors or for political reasons. Predictably, as countries compete to land FinTech companies, many new businesses gravitate toward the less onerous compliance regimes, limited only by investors’ doubts … Read More

Munchee ICO Halted: SEC Reaffirms its Decision on The DAO

Julianne DardanesCryptocurrency, Market Rules & Responsibilities


The Securities and Exchange Commission (SEC) issued an order last week declaring an ICO token to be a security and hence subject to corresponding regulation.  Following on from its similar ruling with respect to The DAO on July 25th, the SEC held that Munchee Inc.’s efforts to promote its supposed “utility token” so emphasized the company’s planned efforts to spur … Read More