For anyone invested in cryptocurrencies or considering a capital raise funded through an Initial Coin Offering (ICO), it would be difficult to imagine two more diametrically different years than 2017 and 2018. As 2018 draws to a close, it is worth reflecting for a moment on all that has happened over the past two years. … Continue reading It was the Best of Times, It was the Worst of Times: A Tale of Two Years in Crypto and Coin Offerings
Michael Best’s inaugural Technology + the Law Symposium will be taking place on Duke University’s campus in just under one month, and we’d love for you to join us! We’ll be spending the day with thought leaders from all over the country in government, academia and industry, discussing a variety of hot tech topics. Here … Continue reading Join Us at Our Inaugural Technology + the Law Symposium!
Michael Best Attorneys Evan Strassberg and Brad Jacobsen provide an expert analysis, featured in Westlaw Journal's Bank & Lender Liability, explaining how economy of bitcoin and other cryptocurrencies work, as well as how government agencies are impacting this market and attempting to regulate these new electronic assets. "Bitcoin was born shrouded in mystery. Using the alias Satoshi … Continue reading Regulation of the Unregulated: How Bitcoin and Cryptocurrencies show that the Government Can Regulate Anything
How securities laws and regulations impact this booming business. Utah Business Magazine features Michael Best Attorneys Brad Jacobsen and Evan Strassberg in the May 2018 edition. Brad and Evan write, "During 2017 it appeared you couldn't lose money investing in Bitcoin, initial coin offerings and other cryptocurrency offerings (collectively ICOs). Not since the Tulip Bubble of … Continue reading Taking the “Crypto” Out of Cryptocurrencies
Just before the close of 2017, the Commodity Futures Trade Commission (CFTC) proposed a seemingly esoteric new rule, in which the CFTC attempted to define the term “actual delivery” within the context of retail commodity transactions in virtual currency. Let’s unpack this because while it may seem to be an obscure topic, once final, this … Continue reading CFTC Proposes “Actual Delivery” Definition with Big Implications for Bitcoin Regulation
Congratulations! You’ve figured out how to buy Bitcoins and other cryptocurrencies from reliable sources. You are likely more computer savvy than most of your friends and family and are the acknowledged “Cryptocurrency” friend. You’ve likely made some money and are excited to share what you’ve learned with others. Your friends and family, however, just don’t … Continue reading Tell Your Friends to Buy Their Own Cryptocurrencies – Money Transmitter Issues in Private Sales of Cryptocurrencies for Legal Tender Currencies
We know that the Commodity Futures Trading Commission (CFTC) considers virtual currencies, including bitcoin, to be commodities, meaning that they are subject to the CFTC’s oversight. And we know, based on recent statements and enforcement actions, that the CFTC is, in fact, paying close scrutiny to cryptocurrency transactions and the exchanges on which they are … Continue reading CFTC Draws Jurisdictional Boundaries on Bitcoin