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‘Enforcement 40’ for 2020
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Join the Securities Litigation and Enforcement Group on LinkedInHow the SEC Widens Net Over Ethereum
The fundamental problem with the SEC’s theory is its assumption that the relevant ETH transactions necessarily “took place in” the US just because blockchain nodes “are clustered more densely in the United States than in any other country.” Although the Ethereum network nodes are primarily hosted using commercial hosting services, the network itself is not […]
SEC Lawsuit Hints at Case for US Jurisdiction Over Ethereum Network – Bloomberg
The suit lodged Monday is against the founder of a crypto investment research firm over allegedly undisclosed incentives linked to an initial coin offering. It also detailed the movement of Ether tokens in relation to the case. Those Ether transactions originated in America and “were validated by a network of nodes on the Ethereum blockchain […]
Ether’s New ‘Staking’ Model Could Draw SEC Attention – WSJ
Ethereum’s big software update on Thursday may have turned the second-largest cryptocurrency into a security in the eyes of a top U.S. regulator. Securities and Exchange Commission Chairman Gary Gensler said Thursday that cryptocurrencies and intermediaries that allow holders to “stake” their coins might pass a key test used by courts to determine whether an […]
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 […]
Web3 Domain Name Service ENS DAO Loses Its Web Address Because Virgil Griffith, the Programmer Who Could Renew It, Sits in Jail
When members of the ENS DAO community go to its eth.link website, all they’ll see now is an empty page with a green domain expiration notice banner at the top. That’s because the only person with the authority to renew the domain, Virgil Griffith, is serving a 63-month prison sentence for helping North Koreans use […]
What’s at Stake: Will the Merge Turn Ether Into a Security?
Ethereum’s upcoming Merge could make the second-largest blockchain greener, faster and cheaper. But a law professor says it could also create regulatory headaches by transforming ether (ETH), the network’s native asset, into a security under U.S. law. “After the Merge, there will be a strong case that ether will be a security. The token in […]
SEC Disagreement Emerges on Whether Ethereum Is a Security | Crypto Briefing
Dugan Bliss, senior trial counsel at the SEC, said that the agency had not taken an official position on Ether. The attorney disregarded previous claims made by Bill Hinman, former director of the SEC’s Division of Corporation Finance, who suggested that offers and sales of ETH are not securities transactions. “Now, there was a speech by a high-ranking […]