Cryptocurrency

SEC V. LBRY INC., ANALYSIS

The summary judgment in favor of the SEC was issued on November 7, 2022 and the only issues addressed were whether LBRY did offer its LBC token in violation of securities laws (as an unregistered security without asserting any exemption…

PROPOSED CRYPTO REGULATION CLASSIFIES CRYPTO-ASSETS AS COMMODITIES

A Senator from NY and a Senator from WY have recently presented Congress with a draft proposal for a crypto regulatory scheme which is a mixed bag from this Firm’s perspective. Wyoming is possibly the best state for crypto ventures and banking, and for good reason, hence one of the senators (Lummis) has been and remains definitively pro-crypto. Nonetheless the bill could have been much better. Firstly, crypto-assets would, for the most part, be under the regulatory imprimatur of the Commodities and Futures Trade Commission; as mentioned in other posts, this is a positive development as crypto-assets are, for the…

ARE NFTs SECURITIES?

Unfortunately there is no clear answer to this question at this time due to a lack of regulatory guidance and no such guidance forthcoming in the near future due to the slow movement of and disputed control over NFTs by…