Digital Currency / Cryptocurrency

The heavily publicized announcement by New York federal prosecutors of the first-ever charges for insider trading in digital assets — non-fungible tokens, or “NFTs” in particular — is a significant but somewhat confusing development for the crypto community and beyond. There is nothing novel about applying well-established law to the abuse of confidential, insider  information

Q&A with the Mississippi Securities Division: From Ponzi Schemes to CryptocurrencyState securities regulators saw a busy 2021, and 2022 looks to continue in much the same fashion. Some of the more active topics for regulators have included protecting senior investors, stopping fraudulent investment schemes targeting individual investors, and battling the ever-present threat of Ponzi schemes. Another big headline for regulators was cryptocurrency companies and the

Crytpocurrencies: Currency, Commodity, Security or Something Else?Courts and regulators continue to struggle with how to define cryptocurrencies. The latest installment of this ongoing debate came from an unlikely source: a state appellate court’s opinion on a criminal matter. Specifically, on January 30, 2019, the Third District Court of Appeal for the State of Florida entered an order reversing a trial court’s

Bitcoin and Bankruptcy: What You Need to Know about the Value of Bitcoin and Other Cryptocurrencies in BankruptcyIt is hard to peruse the internet or even mainstream media outlets without hearing about bitcoin. What is this ubiquitous bitcoin? It depends on whom you ask.

A CNN Money articled defined bitcoin as “a new currency that was created in 2009 by an unknown person using the alias Satoshi Nakamoto.” The IRS has recently

Federal and State Authorities Take First Steps Toward Regulating  Blockchain, Mobile Banking and Digital Financial ServicesLast week, federal and state lawmakers took significant steps toward specific regulations targeting digital financial technology, mobile banking and cybersecurity, signaling the possibility of wholesale changes to the legal landscape. The federal and state legislative proposals follow significant vertical market development and industry investment in financial technology, including an industry-wide consortium of banks’ investment in

North Carolina Clarifies Digital Currency Amidst Growing Interest in Blockchain TechnologyEarlier this month, North Carolina’s governor signed into law an updated Money Transmitters Act (MTA), which seeks to clarify the rules for digital currency. The updated MTA defines what North Carolina considers “monetary value” in the age of emerging technologies in the financial sector. The MTA now defines monetary value as “a medium of exchange,