Insights
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Transparent Illusion: The Discrepancy in Polymarket’s Volume
Read More: Transparent Illusion: The Discrepancy in Polymarket’s VolumeThe recent surge in prediction markets has coincided with the upcoming presidential election, as those seeking a supplement to traditional polling look to new methodologies. As election day draws closer, established prediction markets have seen their volumes skyrocket, while fresh players are jumping in to launch their own platforms. This sudden influx of companies offering…
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SEC Issues Wells Notice to Uniswap
Read More: SEC Issues Wells Notice to UniswapOn Wednesday, April 10, the Securities Exchange Commission (SEC) issued a Wells Notice to Uniswap Labs (Uniswap), the creator of the world’s largest decentralized cryptocurrency exchange. Before digging into why the SEC issued a Wells Notice to the U.S.-based software company, it’s important to understand what a Wells Notice is. What is a Wells Notice?…
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CFTC Sues KuCoin
Read More: CFTC Sues KuCoinINTRODUCTION On March 26, 2024, the Commodity Futures Trading Commission (CFTC), brought a civil enforcement action in the U.S. District Court for the Southern District of New York against the group of entities it argues collectively operate as the centralized digital asset exchange KuCoin. The CFTC claims that KuCoin violated the Commodity Exchange Act (CEA)…
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Crypto Exchange Sues SEC
Read More: Crypto Exchange Sues SECThe Securities Exchange Commission (“SEC”) is under fire again, this time in Texas. On February 21, emerging Texas-based cryptocurrency exchange LEJILEX and the Crypto Freedom Alliance of Texas (“CFAT”), an industry advocacy group, filed a complaint against the SEC. In their complaint, LEJILEX and CFAT allege that the SEC’s assertion of regulatory authority over nearly…
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Van Eck and the Significance of Transparency
Read More: Van Eck and the Significance of TransparencyA recent settlement between Van Eck Associates Corporation (Van Eck) and the Securities and Exchange Commission (SEC) once again underscores the Commission’s focus on transparency in the securities markets. Van Eck agreed to pay a $1.75 million civil penalty to settle charges that it failed to disclose a social media influencer’s role in the promotion…
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Evolution of FinCEN’s Crypto Guidance
Read More: Evolution of FinCEN’s Crypto GuidanceTable of Contents Introduction to FinCEN and The BSA If you’re a U.S. business dealing with cryptocurrencies on a frequent basis, you’re most likely familiar with the legal concepts “money transmitter” and “money service business” (MSB). If not, you’re potentially opening yourself up to a world of hurt by failing to comply with federal and…