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The agency is seeking public comment on two proposals that will promote the responsible and efficient diversification of cryptocurrencies traded on New York licensed exchanges.
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Surprise: SEC Opens the Sandbox
by: Larry E. Bergmann , Matthew B. Comstock | Blockchain Law Center | (10/31/2019)
The staff of the SEC’s Division of Trading and Markets has issued a no-action letter that permits Paxos Trust Company, LLC (“Paxos”) to operate a limited type of blockchain-based clearing agency. Although the no-action letter places tight limits on who and what can clear and settle securities transactions through the Paxos system, and how that settlement has to occur, this is the first time the SEC has allowed market participants to operate in regulatory sandbox.
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Leaders of SEC, FinCEN and CFTC Release a Joint Statement on Digital Asset Compliance and Regulation
by: Macauley B. Venora | Blockchain Law Center | (10/15/2019)
Jay Clayton, Kenneth Blanco and Heath Tarbert, the leaders of the SEC, FinCEN and the CFTC, released a joint statement highlighting compliance issues relating to digital assets and anti-money laundering requirements.
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NY DFS Approves Gold-Backed Digital Asset
by: Macauley B. Venora | Blockchain Law Center | (09/11/2019)
New York’s Department of Financial Services approves the issuance and offering of the first digital asset backed by physical gold.
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SEC Staff Issues Second Utility Token No-Action Letter
by: Larry E. Bergmann , Matthew B. Comstock , Macauley B. Venora | (08/15/2019)
The staff of the Division of Corporation Finance issued the second no-action letter permitting an unregistered token offering and sale for use on a functional platform.
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Blockstack Examined: What the First Reg A+ Token Offering Looks Like
by: Daniel M. Payne | (08/12/2019)
An examination of the first SEC-qualified offering of digital securities issued pursuant to Regulation A (Tier 2) under the Securities Act of 1933 (the “Securities Act”).
Other Recent Items
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OCC Approves First Crypto Bank
Blockchain Law Center | (01/14/2021)
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The SEC Permits Some Broker-Dealers to Custody Customers’ Digital Asset Securities
Blockchain Law Center | (01/04/2021)
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CFTC Digital Assets Primer Overview
Blockchain Law Center | (12/23/2020)
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FinCEN Proposes New Digital Asset Rules to Target Money Laundering
Blockchain Law Center | (12/21/2020)
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CryptoLex 2021
01/12/2021 | (12/21/2020)