On September 13, 2021, New York Attorney General Letitia James announced the entry of a default judgment against crypto platform Coinseed and its CEO. The default judgment includes broad injunctive relief against Coinseed’s future operations in New York state. The case is one of many that regulators have recently brought against crypto trading platforms.
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Antifraud
SEC Denies Application for Bitcoin ETF
In a lengthy order issued on July 26, 2018, by a 3-1 vote the U.S. Securities and Exchange Commission denied an application by the CBOE Bats BZX Exchange, Inc., seeking to list and trade shares of the Winklevoss Bitcoin Trust.
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U.S. District Court Reaffirms CFTC’s Authority over Cryptocurrency Fraud
On July 12, 2018, a federal judge of the U.S. District Court for the Eastern District of New York reaffirmed its view that cryptocurrency fraud is subject to the U.S. Commodity Futures Trading Commission’s anti-fraud and anti-manipulation enforcement authority.
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CFTC Issues Advisory on Digital Tokens
On July 16, 2018, the Commodity Futures Trading Commission issued a customer advisory on digital tokens.
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Texas Shuts Down Offering of Interests in Cryptocurrency Mining Businesses
On July 11, 2018, in an emergency cease and desist order, the Texas securities commissioner took action against several individuals and affiliated companies based in Utah to halt the offering of unregistered cryptocurrency mining investments to Texas residents.
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