Mark Rasmussen

Sep 7, 2023 | jdsupra.com | Michael Butowsky |Sarah Levine |Mark Rasmussen

On August 29, 2023, the Court of Appeals for the District of Columbia Circuit granted a petition from Grayscale Investments, LLC, vacating the SEC's order denying Grayscale's request to approve the exchange listing of its bitcoin ETP. The case represents a win for Grayscale on an administrative law challenge.

Sep 6, 2023 | mondaq.com | Michael Butowsky |Sarah Levine |Mark Rasmussen |Brett A. Shumate

The D.C. Circuit rebuked the U.S. Securities and Exchange Commission ("SEC") on administrative law grounds but left untouched the test the Agency used to deny proposed bitcoin exchange traded products ("ETP"). On August 29, 2023, the Court of Appeals for the District of Columbia Circuit granted a petition from Grayscale Investments, LLC, vacating the SEC's order denying Grayscale's request to approve the exchange listing of its bitcoin ETP.

Sep 6, 2023 | mondaq.com | Dorothy Giobbe |Sarah Levine |David Peavler |Mark Rasmussen

Two SEC commissioners dissented and urged the Commission to provide further guidance on non-fungible tokens ("NFTs"). The U.S. Securities and Exchange Commission has brought its first enforcement action against sellers of NFTs. Impact Theory, the seller, agreed to settle the matter with the SEC by, among other things, destroying the NFTs and paying more than $6 million in disgorgement, prejudgment interest, and penalties.

Jul 20, 2023 | lexology.com | Kevin Comeau |J. McDonald |David Peavler |Laura Pruitt |Mark Rasmussen |David E. Aron

In ShortThe Situation: In parallel federal actions, the Department of Justice ("DOJ"), Securities and Exchange Commission ("SEC"), Commodity Futures Trading Commission ("CFTC"), and Federal Trade Commission ("FTC") brought actions against Celsius Network LLC ("Celsius") and one of its founders and former chief executive officer, Alexander Mashinsky ("Mashinsky"), and other persons related to Celsius.

Feb 21, 2023 | lexology.com | Mark Rasmussen |Abradat Kamalpour |Kim Desmarais |Dan Moss |Antonio F. Dias

In ShortThe Situation: Following a string of bankruptcies among virtual currency firms, the New York Department of Financial Services has issued guidance on the practices and procedures it expects from certain state-regulated entities providing virtual currency custodial services.