United States:
SEC Appoints Receiver In Action Involving ICO And Alleged Cryptocurrency Bank
09 March 2018
by
Daniel J. McLoon
,
Mauricio Paez
,
Richard Johnson
,
Jonathon Little
,
Todd McClelland
,
Jeff Rabkin
,
Lisa M. Ropple
,
Adam Salter
,
Toshiaki Takahashi
,
Undine Von Diemar
,
Olivier Haas
,
Jörg Hladjk
and
Anand Varadarajan
Jones Day
To print this article, all you need is to be registered or login on Mondaq.com.
On January 30, the SEC announced its action against an allegedly
fraudulent ICO initiated by a cryptocurrency banking platform. The
SEC detailed how the company "falsely stated that it purchased
an FDIC-insured bank" and failed "to disclose the
criminal background of key executives." The SEC obtained an
emergency freeze order from the court, which also appointed a
receiver to handle and manage all assets of the company, including
the digital cryptocurrency assets, while the case is resolved. For
more information, see the
Jones Day Alert.
The content of this article is intended to provide a general
guide to the subject matter. Specialist advice should be sought
about your specific circumstances.
POPULAR ARTICLES ON: Technology from United States
AI Legal Updates
Sheppard Mullin Richter & Hampton
The AI landscape is rapidly changing. To keep you up to date on the fast breaking legal updates in the AI space, we will be providing weekly updates summarizing significant news and legal developments...
AI In Retail And Consumer Products: Managing The Risks
Arnold & Porter
Artificial intelligence brings new opportunities and efficiencies to how companies conduct business, often working behind the scenes to transform day-to-day operations and how we live our daily lives.