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Dec 16, 2024 | 
jdsupra.com | Stephen Wink
The court ruled OFAC overstepped its authority in sanctioning Tornado Cash, holding that its smart contracts are not “property” under the governing statutes.
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Jan 24, 2024 | 
lexblog.com | Jenny Cieplak |Aaron Gilbride |Stephen Wink
The SEC’s long-awaited green light for spot bitcoin ETPs is welcomed by the market, but the ambivalent decision raises more questions than it answers. By Jenny Cieplak, Aaron Gilbride, Yvette D. Valdez, Stephen P. Wink, and Deric BeharOn January 10, 2024, the Securities and Exchange Commission (SEC) issued, on an accelerated basis, an Omnibus Approval Order (the Order) for proposed NYSE Arca, Nasdaq, and Cboe BZX rule changes seeking to list and trade shares of 11 spot bitcoin trusts.
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Jan 24, 2024 | 
lexology.com | Jenny Cieplak |Aaron Gilbride |Stephen Wink |Deric Behar
The SEC’s long-awaited green light for spot bitcoin ETPs is welcomed by the market, but the ambivalent decision raises more questions than it answers. On January 10, 2024, the Securities and Exchange Commission (SEC) issued, on an accelerated basis, an Omnibus Approval Order (the Order) for proposed NYSE Arca, Nasdaq, and Cboe BZX rule changes seeking to list and trade shares of 11 spot bitcoin trusts.
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Oct 5, 2023 | 
lexblog.com | Jenny Cieplak |Arthur S. Long |Stephen Wink
The Proposed Guidance would require enhanced criteria for coin-listing and delisting procedures for New York-licensed virtual currency entities. By Jenny Cieplak, Arthur S. Long, Yvette D. Valdez, Stephen P.
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Sep 20, 2023 | 
lexology.com | Ghaith Mahmood |Nima H. Mohebbi |Stephen Wink |Douglas K. Yatter |Adam Zuckerman |Luca Marquard | +1 more
In its second action involving NFTs, the SEC targets an offering tied to fundraising and promises of future value. On September 13, 2023, the Securities and Exchange Commission (SEC) issued a cease-and-desist order (the Order) against Stoner Cats 2, LLC (SC2) for an alleged unregistered securities offering relating to SC2’s sale of $8.2 million worth of non-fungible tokens (NFTs).
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Sep 18, 2023 | 
lexblog.com | Jack Barber |Aaron Gilbride |Marlon Paz |Stephen Wink
An appeals court panel rules that the SEC rejection of a proposed spot bitcoin ETP was arbitrary and capricious, opening the door for the potential launch of numerous ETPs in the near future. By Jack Barber, Aaron Gilbride, Marlon Paz, Stephen P. Wink, and Deric BeharOn August 29, 2023, a three-judge panel on the District of Columbia Circuit Court of Appeals ruled in favor of Grayscale Investments, LLC On Petition for Review of an Order of the Securities and Exchange Commission (SEC).
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Sep 18, 2023 | 
lexology.com | Jack Barber |Aaron Gilbride |Marlon Paz |Stephen Wink |Deric Behar
An appeals court panel rules that the SEC rejection of a proposed spot bitcoin ETP was arbitrary and capricious, opening the door for the potential launch of numerous ETPs in the near future. On August 29, 2023, a three-judge panel on the District of Columbia Circuit Court of Appeals ruled in favor of Grayscale Investments, LLC On Petition for Review of an Order of the Securities and Exchange Commission (SEC).
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Aug 29, 2023 | 
lexology.com | Ghaith Mahmood |Nima H. Mohebbi |Stephen Wink |Douglas K. Yatter |Adam Zuckerman |Deric Behar
In its first enforcement action involving NFTs, the SEC focused on issuer marketing that promised outsized returns on investment and platform building. On August 28, 2023, the Securities and Exchange Commission (SEC) issued a cease-and-desist order (the Order) against a Los Angeles media and entertainment company (the Company) for an unregistered securities offering relating to its sale of $29.9 million worth of non-fungible tokens (NFTs)[1].
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Jul 25, 2023 | 
lexology.com | Jack Barber |Jenny Cieplak |Benjamin Naftalis |Stephen Wink |Douglas K. Yatter |Adam Zuckerman | +2 more
A bifurcated decision in a highly anticipated digital assets enforcement action may not provide the clarity that market participants want or need. On July 13, 2023, Judge Analisa Torres of the US District Court for the Southern District of New York issued an order on motions for summary judgment in the civil enforcement action brought by the Securities and Exchange Commission (SEC) on December 22, 2020, against Ripple Labs Inc.
