Daily Archives: December 29, 2022, 10:46 am

Crypto Trader’s Fraud Charges in Mango Exploit Show DeFi Not Above Law – Bloomberg

Criminal charges against a crypto trader who claimed to have walked away with about $50 million worth of digital assets after exploiting a decentralized finance platform show that even as DeFi remains mostly unregulated, it offers no shield against the legal consequences of alleged fraud. “There’s a difference between what’s regulated and what’s legal,” Neal Kumar, partner at Willkie Farr…

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Crypto Crackdown Will Help Shape 2023 Securities Law Storylines

US securities regulators’ expected crackdown on crypto firms and potential shakeups in insider trading cases are among the closely watched investor issues for the coming year. Securities litigation involving companies’ environmental, social and governance (ESG) disclosures and practices will also keep court dockets busy. A slowdown in dealmaking likely means fewer lawsuits related to mergers and acquisitions, but a market…

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Second Circuit Questions Use of Criminal Insider-Trading Statute Without Proof of Receipt of Personal Benefit | Corporate Defense and Disputes

The Second Circuit held yesterday that a government agency’s nonpublic, pre-decisional regulatory information does not constitute “property” for purposes of the federal insider-trading and wire-fraud statutes.  The decision in United States v. Blaszczak (2d Cir. Dec. 27, 2022) (“Blaszczak II”) effectively vacated convictions under those statutes for defendants who had traded on nonpublic, market-moving information that had been obtained from a government…

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