NEW YORK – Dec. 11, 2020 – Global law firm Greenberg Traurig, LLP was ranked in the legal category of Chambers and Partners’ 2021 FinTech Guide in the U.S., Japan, Mexico, and Poland jurisdictions.
The following shareholders were recognized in the 2021 FinTech Guide in the following jurisdictions:
On October 8, 2020, the Department of Justice’s Cyber-Digital Task Force (DOJ) published “Cryptocurrency: An Enforcement Framework” (the Framework), which provides DOJ’s perspective on emerging law enforcement issues and challenges in areas involving cryptocurrency. As we have discussed previously, the government’s scrutiny of virtual currencies has increased as challenges surrounding regulation of this burgeoning
This practice note covers recent market trends in distributed ledger/Blockchain capital funding and regulation. It focuses on the legal framework for capital formation using distributed ledger/Blockchain technology to enable offerings of coins, tokens, and other rights (digital assets) and developments over the past few years.
Barbara A. Jones, co-chair of global law firm Greenberg Traurig, LLP’s Blockchain Group, has been selected as a Law360 2020 Fintech MVP. Law360 reports that its MVP of the Year awards honor attorneys for their successes in high-stakes litigation, significant deals, or complex global matters. In all, Law360 selected 189 MVPs, across 38
On Sept. 25, 2020, the SEC issued a No-Action Letter to FINRA, in response to a previously issued Joint Statement by the SEC and FINRA. This No-Action Letter detailed how broker-dealers could operate alternative trading systems that trade digital assets without garnering enforcement action from the SEC for not meeting the custody requirements required under
In March 2020, a Southern District of New York court issued a significant decision in Securities and Exchange Commission v. Telegram Group Inc. et al., strengthening the U.S. government’s efforts in cryptocurrency enforcement – an area that is largely unsettled. As we wrote in our article discussing that decision, Judge P. Kevin Castel’s opinion
On Sept. 21, 2020, the Office of the Comptroller of the Currency (the OCC) issued guidance pertaining to whether national banks could hold stablecoin reserves. That same day, the Securities and Exchange Commission Strategic Hub for Innovation and Financial Technology Staff (the SEC) issued a statement in response to that guidance, advising whether such digital
Gibraltar-based INX Ltd. (the Company) launched its U.S. initial public offering of INX security tokens (INX Tokens) on August 20, 2020, over two years after the July 2018 confidential filing with the Securities and Exchange Commission of its initial draft registration statement on Form F-1. The INX registration marks the first registered offering of security tokens declared effective by the Commission. Prior to INX, at least two other issuers successfully qualified security token offerings with the Commission under the Regulation A, Tier 2 offering exemption. The 130,000,000 INX Tokens are being offered directly to the public in a self-underwritten offering by officers and directors of the Company, with minimum investment requirements to participate.
Continue Reading Gibraltar-Based INX Ltd. Launches SEC-Registered Security Token IPO
SEC Commissioner Hester Peirce on Feb. 6, 2020, delivered a thought-provoking speech entitled Running on Empty: A Proposal to Fill the Gap Between Regulation and Decentralization, accompanied by a preliminary three-year safe harbor for network development projects to issue tokens. The proposed Securities Act Rule 195, authored solo by Commissioner Peirce, one of five
In 2015, the New York Department of Financial Services (NYDFS) finalized rules creating the BitLicense for virtual currency exchanges operating in New York state. New York is currently the only state to have a licensing regime specifically for virtual currency exchanges.
The industry has bemoaned the BitLicense since it was proposed. Critics say that the