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 rein in pursuing those seeking to exploit the uninitiated or those engaged in outright fraud.
In this issue of Greenberg Traurig’s Blockchain & Cryptocurrency Newsletter, we discuss some of the key enforcement actions and proceedings during 2018 that have shaped the regulatory environment in the United States and the continuing uncertainty over the classification of digital assets as securities.
In this issue:
1 – Disrupting the Disruptors: 2018 – The Year in Review
2 – Noteworthy Federal Securities Cases During 2018
- Securities and Exchange Commission v. Blockvest, LLC et al.: SEC’s Request for Preliminary Injunction Denied
- In the Matter of TokenLot, LLC et al.: SEC Order Against Unregistered Broker-Dealer
- In the Matter of Crypto Asset Management, LP: SEC Order Against Unregistered Hedge Fund
- In re Tomahawk Exploration: SEC Deems Token Airdrop as Sale of Securities
3 – 2018 State Regulatory Overview
- NASAA’s Operation Cryptosweep
- Initial Coin Offering (ICO) Enforcement Actions by States
4 – Traps for the Unwary: Federal Income Tax
5 – FinCEN Update
Compliments of Greenberg Traurig, a member of the EACCNY