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‘Enforcement 40’ for 2020
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Join the Securities Litigation and Enforcement Group on LinkedInCoinbase Is Going to Highlight Politicians by Their Crypto-Friendliness – Bloomberg
Coinbase Global Inc. is adding a scorecard for politicians right into its app as the largest US cryptocurrency exchange amps up its policy advocacy efforts after expressing frustration with lawmakers and regulators. American customers can check crypto sentiment scores for members of Congress based on their past statements, Brian Armstrong, chief executive officer of Coinbase, […]
CFTC Already Preparing to Be Crypto Watchdog, Behnam Tells US Senators
Rostin Behnam, the head of the U.S. Commodity Futures Trading Commission, said he has already directed his agency to begin preparing to be the major, fully funded regulator for much of the crypto market, as anticipated in Senate legislation. “The volatility in the market, and its impact on retail customers – which may only worsen […]
Coinbase-backed suit against Treasury set to become landmark blockchain case
Can the U.S. government sanction computer code? That simple yet complex question is at the heart of a burgeoning legal fight backed by one of the world’s largest cryptocurrency exchanges. The answer will likely have major implications for the government’s power to control the functions of digital assets. *** “The power that’s delegated to OFAC […]
The SEC Can’t Transform Itself Into a Climate-Change Enforcer – WSJ
The SEC’s regulation is of a piece with those the court has struck down. We warned in a June 16 comment letter to the agency that Congress never assigned the SEC the task of overseeing environmental concerns. Yet that’s exactly what it sets out to do in its climate rule. As GOP-appointed SEC Commissioner Hester […]
Ethereum’s Long-Awaited ‘Merge’ Reaches the Finish Line – The New York Times
The moment finally arrived, in the last minutes before midnight on the West Coast on Wednesday. After years of delays, discussions and frantic experimentation, the popular cryptocurrency platform Ethereum completed a long-awaited software upgrade known as the Merge, shifting to a more environmentally sustainable framework. *** By some estimates, Ethereum’s shift to proof of stake […]
Twitter Hit with Cybersecurity-Related Securities Suit Over Whistleblower Allegations | The D&O Diary
In the midst of its battles with Elon Musk over Musk’s attempt to walk away from his proposed takeover of the company, Twitter was rocked by the news that a whistleblower had sent Congress and federal agencies explosive reports of “major security problems” at the company. According to the news reports, the whistleblower’s disclosure not […]
Pelosi Says Bill on Investing Rules for Lawmakers Will Face Vote This Month – The New York Times
Speaker Nancy Pelosi said on Wednesday that Democrats would bring legislation to the House floor this month that would place new restrictions on the ability of lawmakers to buy and sell stocks. Her announcement came after months of negotiations over whether and how to restrict personal financial activity by members of Congress that could create […]
Craig Wright Tells Court He ‘Stomped on the Hard Drive’ Containing Satoshi Wallet Keys
Craig Wright told a Norwegian court on Wednesday that he “stomped on the hard drive” that contained the “key slices” required to grant him access to Satoshi Nakamoto’s private keys, making it “incredibly difficult” to cryptographically prove he is the creator of Bitcoin – a title he has claimed but failed to prove since 2016. Wright’s […]
Uber Chief Deputy General Counsel Takes Top Lawyer Position at Peloton | Corporate Counsel
Uber chief deputy general counsel Tammy Albarrán is splitting with the ride-sharing company to take over as legal chief at fitness tech firm Peloton, which is grappling with slumping sales, federal investigations and litigation. Albarrán, a self-described “avid Peloton member,” succeeds Peloton CLO and co-founder Hisao Kushi, effective Oct. 3. Kushi’s next move is to “do […]