Cluster: Cryptocurrency law

Cluster: Cryptocurrency law

A cluster of topics related to cryptocurrency law.

Cryptocurrency law is a set of codified rules and regulations adopted by countries and jurisdictions globally that govern the ways cryptocurrencies, and blockchain-based technologies are created, used, and traded. This is a cluster of topics in cryptocurrency law or related to cryptocurrency law.

Legal Terms Used in Cryptocurrency law

Types of Cryptocurrency law

  • Token and Coin Compliance
  • Cryptocurrency Sales Regulation
  • Cryptocurrency Securities Law
  • Cryptocurrency Transmission Law
  • Anti-money Laundering Cryptocurrency Law
  • Cryptocurrency Taw Law
  • Cryptocurrency Promotion Law
  • Cryptocurrency Ownership and Licensing Law
  • Cryptocurrency Reporting Requirements
  • Cryptocurrency Border Restrictions and Declaration
  • Estate Planning for Cryptocurrency
  • Cryptocurrency Mining Regulations
  • Data privacy law

Initial Coin Offerings (ICO)

According to its “Framework for ‘Investment Contract’ Analysis of Digital Assets", the SEC uses the "Howey test" to determine whether or not an ICO is a security or not. The expectation of profit is a critical part of of this test. If an ICO is determined to be a security, it must be registered and meet reporting obligations with the SEC.

Notable SEC Events

The Securities and Exchange Commission (SEC) requires registration of any virtual currency or digital asset traded in the United States.

The Commodities and Futures Trading Commission (CFTC) and the SEC work closely together on cryptocurrency regulatory issues. According to ruling by a United States Eastern District of New York federal judge in March 2018, cryptocurrency is regulated as a commodity and falls under the jurisdiction of the CFTC. As a result of this ruling, and the use of cryptocurrency as a money-transmission service, the SEC does not have direct oversight of cryptocurrency transactions. The SEC does monitor and provide oversight for initial coin offerings. In July 2019, the SEC released its "Framework for 'Investment Contract' Analysis of Digital Assets" which provides a framework for when federal securities laws apply to initial coin offerings.

In October 2018, the SEC launched the Strategic Hub for Innovation and Financial Technology (FinHub) as serves as a public resource for the SEC's FinTech-related issues and initiatives. FinHub started a public engagement initiative on blockchain, distributed ledger, and digital assets in 2019. This initiative took the form publications and publicly held events and forums.

In October 2019, the U.S. Commodity Futures Trading Commission, the Financial Crimes Enforcement Network, and the U.S. Securities and Exchange Commission issued a joint statement that outlined cryptocurrency and digital asset reporting and registration obligations under the Bank Secrecy Act, which protects against money laundering and terrorism financing.

Case Law (United States)

Cryptocurrency is regulated under a number of federal acts. Since 2013, the SEC has charged a number of companies and individuals in cryptocurrency related court cases, administrative proceedings, and cease-and-desist orders. A number of government agencies, including the Federal Trade Commission, the U.S. Department of Justice, and CFTC, states governments, and private individuals have also filed lawsuits regarding the use and trading of cryptocurrency and intellectual property of blockchain technology.

  • Bank Secrecy Act
  • Stamp Payment Act of 1862
  • Electronic Fund Transfer Act
  • Katz v. United States, 289 U.S. 347 (1967)
  • United States v. Warshak, 631 F.3d 266
  • Unlawful Internet Gambling Enforcement Act (UIGEA)
  • Federal Wire Act
  • SEC v. W.J. Howey Co. 328 U.S. 293
  • SEC v. High Street Capital Partners, LLC et al.
  • SEC v. BitClave PTE Ltd.
  • SEC v. Putnam, et al.
  • SEC v. Dropil, Inc., et al.
  • SEC v. Meta 1 Coin Trust, et al.
  • Steven Seagal (SEC cease-and-desist order)
  • Enigma MPC (SEC cease-and-desist order)
  • SEC v. Ackerman
  • SEC v. Grybniak, et al.
  • SEC v. Manor, et al.
  • SEC v. Blockchain of Things, Inc.
  • SEC v. Eyal, et al.
  • SEC v. Tlegram Group Inc., et al.
  • SEC v. Block.one
  • SEC v. Lucas
  • SEC v. ICOBox, et al.
  • SEC v. Bitqyck, Inc., et al.
  • ICO Rating (SEC cease-and-desist order)
  • SimplyVital Health, Inc. (SEC cease-and-desist order)
  • SEC v. Middleton, et al.
  • SEC v. Longfin Corp., et al.
  • SEC v. Kik Interactive Inc.
  • SEC v. Pacheco
  • NextBlock Global Ltd. and Alex Tapscott (SEC cease-and-desist order)
  • SEC v. Natural Diamonds Investment Co., et al.
  • Mutual Coin Fund LLC and Usman Majeed (SEC cease-and-desist order)
  • SEC v. Gladius Network, LLC
  • CoinAlpha Advisors LLC (SEC cease-and-desist order)
  • Floyd Mayweather, Jr. (SEC cease-and-desist order)
  • Khaled Khaled ("DJ Khaled") (SEC cease-and-desist order)
  • Paragon Coin, Inc. (SEC cease-and-desist order)
  • CarrierEQ, Inc., d/b/a Airfox (SEC cease-and-desist order)
  • Zachary Coburn (SEC cease-and-desist order)
  • SEC v. Blockvest LLC, et al.
  • SEC v. 1pool Ltd. a.k.a. 1Broker, et al.
  • TokenLot LLC, Lenny Kugel, and Eli Lewitt (SEC cease-and-desist order)
  • Crypto Asset Management, LP and Timothy Enneking (SEC cease-and-desist order)
  • Tomahawk Exploration LLC and David T. Laurance (SEC cease-and-desist order)
  • SEC v. Jesky, et al.
  • SEC v. Titanium Blockchain Infrastructure Services Inc., et al.
  • SEC v. Sharma, et al.
  • SEC v. Longfin Corp., et al.
  • SEC v. Sharma, et al.
  • SEC v. Montroll, et al.
  • SEC v. AriseBank, et al.
  • SEC v. AriseBank, et al. Jared Rice Sr. and Stanley Ford
  • In re Munchee, Inc
  • SEC v. PlexCorps, et al.
  • SEC v. REcoin Group Foundation, LLC, et al.
  • Report of Investigation Pursuant to Section 21(a) of the Securities Exchange Act of 1934: The DAO
  • SEC v. Renwick Haddow, et al.
  • In re Bitcoin Investment Trust and SecondMarket, Inc.
  • SEC v. Garza, et al.
  • In re Sand Hill Exchange, et al.
  • In re BTC Trading, Corp. and Ethan Burnside
  • In re Erik T. Voorhees
  • SEC v. Shavers
  • United States v. Faiella
  • State of Florida v. Espinoza
  • United States v. Ross William Ulbricht
  • New York Office of the Attorney General v. Bitfinex
  • Blockchain.com v. Paymium
  • Oracle v. CryptoOracle
  • Bradley Sostack v. Ripple
  • SEC v. Veritaseum
  • Traders v. Coinbase
  • Harrison Hines v. Joseph Lubin
  • New Jersey v. Pocketinns Inc.
  • SEC v. Jon Montroll
  • Department of Justice v. Blake Kantor
  • Department of Justice v. hacking group “The Community”
  • Commodity Futures Trading Commission v. Morgan Hunt and Kim Hecroft
  • CFTC v. Control-Finance Ltd.
  • SEC v. Longfin Corp.
  • U.S. Federal Trade Commission v. Bitcoin Funding Team

Regulation by country

  • Cryptocurrency regulation
  • Argentina
  • Bermuda
  • Belize
  • Bolivia
  • Brazil
  • Canada
  • Chile
  • Colombia
  • Costa Rica
  • Ecuador
  • El Salvador
  • Guatemala
  • Honduras
  • Mexico
  • Venezuela
  • United States
  • Eastern Caribbean Central Bank
  • Anguilla
  • Antigua and Barbuda
  • Bahamas
  • British Virgin Islands
  • Cayman Islands
  • Dominica
  • Dominican Republic
  • Grenada
  • Jamaica
  • Montserrat
  • Saint Kitts and Nevis
  • Saint Lucia
  • Saint Vincent and the Grenadines
  • Trinidad and Tobago
  • European Union
  • Austria
  • Belgium
  • Bulgaria
  • Croatia
  • Cyprus
  • Czech Republic
  • Denmark
  • Estonia
  • Finland
  • Germany
  • Greece
  • Hungary
  • Ireland
  • Italy
  • Latvia
  • Lithuania
  • Luxembourg
  • Malta
  • Netherlands
  • Poland
  • Portugal
  • Romania
  • Slovakia
  • Slovenia
  • Spain
  • Sweden
  • United Kingdom
  • Albania
  • Armenia
  • Azerbaijan
  • Belarus
  • Bosnia and Herzegovina
  • Georgia
  • Gibraltar
  • Guernsey
  • Iceland
  • Isle of Man
  • Jersey
  • Kosovo
  • Liechtenstein
  • Macedonia
  • Moldova
  • Montenegro
  • Norway
  • Russia
  • Serbia
  • Switzerland
  • Ukraine
  • Algeria
  • Bahrain
  • Egypt
  • Iran
  • Iraq
  • Israel
  • Jordan
  • Kuwait
  • Lebanon
  • Morocco
  • Oman
  • Qatar
  • Saudi Arabia
  • United Arab Emirates
  • Ghana
  • Kenya
  • Lesotho
  • Mozambique
  • Namibia
  • South Africa
  • Swaziland
  • Uganda
  • Zambia
  • Zimbabwe
  • Kazakhstan
  • Uzbekistan
  • Kyrgyzstan
  • Tajikistan
  • Bangladesh
  • India
  • Nepal
  • Pakistan
  • Australia
  • Brunei
  • China
  • Cambodia
  • Hong Kong
  • Indonesia
  • Japan
  • Macau
  • Malaysia
  • Marshall Islands
  • New Zealand
  • Philippines
  • Samoa
  • Singapore
  • South Korea
  • Taiwan
  • Thailand
  • Vanuatu
  • Vietnam

Regulatory Agencies

Regulatory Documents (United States)

International Cryptocurrency Laws

  • Digital Asset Business Act of September 2018 (Bermuda)

Cryptocurrency Legal Instruments

Law Firms Specializing in Cryptocurrency Law

Timeline

People

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Further reading

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Documentaries, videos and podcasts

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Companies

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References

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