General Developments/Background

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Weekly Focus:

  • OCC Announces a New Acting Comptroller of the Currency
  • House Bill Would Require a Study on the Regulation and Use of Blockchain Technology in the United States
  • IRS Reportedly Seeking Private Contractors in Connection with Virtual Currency-Related Tax Returns
  • US Senate Subcommittee Raises Blockchain as Option for Senate Voting During Times of Crisis
  • Private Party Brings Suit against Crypto-Products Trading Platform for Alleged Violations of RICO and the CEA
  • Bank of France Provides Update on Central Bank Digital Currency Experimentation
  • FATF Issues Report on COVID-19-Related Money Laundering and Terrorist Financing Risks and Policy Responses
  • Brazilian Agency Re-opens Investigation into Banks’ Treatment of Virtual Currency Firms
  • Reports: Iran Takes Several Actions Related to the Regulation of Virtual Currencies

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Continue Reading Blockchain Week in Review: Week of May 22, 2020

Weekly Focus:

  • Ripple Faces New Litigation Related to XRP Token Sale
  • In Wake of Injunction, Telegram Discontinues Involvement with TON Blockchain
  • Blockvest Founder Seeks to Challenge Sanctions Granted in SEC Suit Related to ICO
  • Ohio State Lawmakers Contemplate Using Blockchain for Future Election Cycles
  • Square’s CashApp Q1 Earnings Show Surge in Bitcoin-Related Earnings
  • Turkey-Based Company iMiner Successfully Attains License to Operate in Iran
  • Dutch Central Bank Imposes Registration Requirement for Crypto Service Providers Under Newest Iteration of AML Legislation

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Continue Reading Blockchain Week in Review: Week of May 8, 2020

Part 3: An Overview of the Guidance

In the final part of our three-part update series covering the U.S. Commodity Futures Trading Commission (CFTC) guidance on what constitutes the “actual delivery” of a digital asset in the context of a retail commodity transaction, we offer a detailed overview of the Guidance with our analysis.

Part…

Weekly Focus:

  • Commissioner Brian D. Quintenz Ending His Term at the CFTC
  • U.S. Clears Security Token Trading System to Launch
  • Bank of China Will Expand Regulatory Pilot Project to Six More Cities and Districts
  • Zhejiang-based Ebang International Holdings Inc. Filed IPO

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Continue Reading Blockchain Week in Review: Week of May 1, 2020

Part 2: CFTC Finalizes Guidance on Digital Assets in the Context of Retail Commodity Transactions

This is the second part of a three-part update series in order to provide the industry with a critical analysis of the U.S. Commodity Futures Trading Commission (CFTC) finalized long-awaited interpretive guidance regarding what constitutes the “actual delivery” of a…

Part 1: Commentary on the Significance of the Guidance for the Industry

On March 24, 2020, the U.S. Commodity Futures Trading Commission (CFTC) finalized long-awaited interpretive guidance regarding what constitutes the “actual delivery” of a digital asset in the context of a retail commodity transaction under the Commodity Exchange Act.

This interpretive guidance is noteworthy…

Perkins Coie LLP is pleased to bring you this updated Digital Asset SEC Timeline. This update includes the newest edition posted on March 24, 2020 which highlights the Second Circuit Grants Injunctive Relief to the SEC Preventing Telegram Coin Offering (SEC v. Telegram Group Inc.)

The Digital Asset SEC Timeline serves as an interactive…

Weekly Focus:

  • Money Laundering in Bitcoin . . . is Still Money Laundering
  • CFTC Designates Sixth Bitcoin Contract Market
  • Terminating Sanctions Ordered Against Blockvest LLC Founder
  • China’s Central Bank Starts CBDC Pilot Program
  • Dutch National Bank Wants to Test CBDCs for the Eurosystem
  • Coinbase Launches Price Oracle for DeFi
  • Ant Financial Launches SME Consortium Blockchain

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Continue Reading Blockchain Week in Review: Week of April 24, 2020

On Tuesday, April 21, LabCFTC, the FinTech hub of the U.S. Commodity Futures Trading Commission (CFTC), announced it launched Project Streetlamp, a prize competition that leverages emerging technologies to identify non-U.S. entities that are soliciting U.S. investors in CFTC-regulated investment products but are not registered with the CFTC.

The contest ends on September 4,…

Weekly Focus:

  • Libra Association updates white paper with plans to release multiple stablecoins
  • New Wyoming law allows insurance companies to invest in crypto
  • CFTC proposes updates to Part 190
  • Andreessen Horowitz to raise $450 million for second crypto fund
  • ATBCoin settles class action lawsuit for $250k
  • Financial Stability Board releases document on global stablecoins
  • Chinese tech companies file most blockchain patents in 2019
  • China to launch blockchain platform this week

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Continue Reading Blockchain Week in Review: Week of April 17, 2020