The Ripple Effect:  Four Key Takeaways from Ripple’s Win Against the SEC

By: Rick Tapia, Andrew Bull, and Tyler Harttraft In a landmark decision on July 13, 2023, U.S. District Judge Analisa Torres of the U.S. District Court of the Southern District of New York brought a semblance of regulatory clarity for the blockchain industry.[1] The case, initiated by the Securities and Exchange Commission (“SEC”), centers around […]

SEC Sues Coinbase: Summary and Takeaways

On June 6, 2023, the SEC filed a complaint in the Southern District of New York against Coinbase, Inc. (Coinbase), and Coinbase Global, Inc. (CGI), alleging a number of violations of the US federal securities laws (the Coinbase Complaint)[1] that are substantially similar to those alleged in the complaint filed just one day prior against Binance. […]

SEC Sues Binance: Summary and Takeaways

On June 5, 2023, the Securities Exchange Commission filed a Complaint in the District of Columbia against Binance, one of the largest cryptocurrency exchanges in the world, and its founder.[1] Specifically, the Complaint names Binance Holdings Limited (Binance), BAM Trading Services Inc. (Binance.US), BAM Management US Holdings Inc. and Binance’s founder, Changpeng Zhao (CZ). The […]

Alert: California Court Finds DAO Participants May Be Liable For Claims of Negligence 

Key Takeaways Summary On March 27, 2023, the Court in Christian Sarcuni, et al. v. bZx DAO, et al, found that the plaintiffs plausibly alleged a claim of negligence against defendants bZx DAO, The bZx DAO operated a blockchain-based software called the bZx Protocol, which offered cryptocurrency margin trading and lending products. The bZx Protocol […]