A cluster of topics related to cryptocurrency law.
A cluster of topics related to cryptocurrency law.
The Securities and Exchange Commission (SEC) requires registration of any virtual currency or digital asset traded in the United StatesUnited States.
In October 2019, the U.S. Commodity Futures Trading CommissionCommodity 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.
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.
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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.
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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.
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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.
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[summary of 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.
[https://www.investopedia.com/terms/i/initial-coin-offering-ico.asp]
[summary of cryptocurrency lawcryptocurrency law]
[summary of cryptocurrency law]
[https://www.investopedia.com/terms/i/initial-coin-offering-ico.asp]
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