Author: Mark Hiraide

On April 2, 2019, the Division of Corporation Finance of the Securities and Exchange Commission issued a no-action letter to TurnKey Jet, Inc. in connection with a proposed sale of tokens in the United States. It was the first no-action letter relating to cryptocurrencies and was widely heralded as a watershed event (e.g., “SEC Issues First ‘No-Action’ Letter Clearing ICO to Sell Tokens in US”) (see here).

Read more: SEC Issues First Cryptocurrency No-Action Letter – Where’s the Action?


As part of a review into Initial Coin Offerings, the Australian Government Treasury has recently published an Issues Paper (Review) inviting public submissions on the regulatory framework surrounding offerings of cryptographic tokens. With a significant sum raised by businesses globally in 2017/2018 via the issue of tokens, various jurisdictions have been adjusting their regulatory perimeter to encourage innovation in blockchain while still protecting investors. The issue paper takes an optimistic tone but it remains to be seen if Australia will remake itself as a global hub for innovative financial product offerings.

Read more: Regulating STOs and Token Offerings: Australian Treasury seeks submissions


In the wake of the fifth anniversary of Mt Gox’s collapse, it is worth re-examining what happened and considering some of the key legal issues which have arisen since. Founded by technological entrepreneur Jed McCaleb and launched in July 2010, Mt Gox was a bitcoin exchange platform based in Tokyo, Japan. Prior to its collapse in 2014, Mt Gox was the largest Bitcoin trading exchange in the world, boasting over 24,700 customers globally. During it’s peak, it was estimated to have accounted for 70-80% of all Bitcoin transactions worldwide, having held around 850,000 Bitcoins, which are today worth approximately AUD$4.28B.

As the largest and earliest significant collapse of a crypto business, it is interesting to consider how the Courts and law have tried to deal with the novel issues raised by the situation.

Read the entire article.


Author: William Zac Duffy

This year promises to be a significant year for blockchain and cryptocurrency due to advances in the underlying technology and increasing levels of adoption by corporations and large financial institutions. This article highlights 10 U.S. blockchain patents issued in 2018 that are particularly interesting or noteworthy in order to provide insight into the future direction of the technology.

Read more: The Top Blockchain Patents of 2018


 
With the increase in popularity of cryptocurrencies and blockchain-based solutions, an ever-growing number of technologically savvy entrepreneurs are attempting to raise capital through initial coin offerings or initial token offerings (collectively, “ICOs”).

Read more: Initial Coin Offerings: A regulated affair