“It is not illegal to be smarter than your counterparties in a swap transaction, nor is it improper to understand a financial product better than the people who invented the product.” So wrote Judge Sullivan nearly two years after the bench trial in CFTC v. DRW, in entering judgment in favor of the Defendants on all of the CFTC’s market manipulation claims. The long-anticipated decision is a significant setback for the CFTC’s anti-manipulation campaign.
On September 27, 2018, the Commodity Futures Trading Commission sued 1Pool Ltd. and Patrick Brunner for offering illegal leveraged, off-exchange commodity transactions to retail customers in the United States.
On September 21, 2018, Congressman Tom Emmer (R-MN), co-chair of the Congressional Blockchain Caucus, announced his plans to introduce three pieces of legislation designed to support the use and development of blockchain technology in the United States.
If 2017 was the year of the ICO, then 2018 may become the year of the cryptocurrency investigation
A cryptocurrency sweep announced by NASAA comes on the heels of an in-depth report from the Wall Street Journal on red flags in the ICO market.
Recent cases have distilled some of the crypto-specific legal issues that companies are facing in litigation.
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