Nobody who believes in crypto wants it to be a sector beholden to criminality or poor commitment to security. John McAfee’s recent detention in Spain caps off a few weeks where crypto news feeds have been dusted with reports of regulator enforcement actions and bans, arrests, and an exchange hack. Crypto news hasn’t looked like…
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The Department of Justice made headlines in crypto and elsewhere, leading a week of law enforcement locking down around the world. Every Friday, Law Decoded delivers analysis on the week’s critical stories in the realms of policy, regulation and law. Editor’s note Historians typically date the birth of international policing as we know it today…
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The current DeFi ecosystem’s trajectory is reminiscent of the ICO boom. As the majority of DeFi related tokens continue to beat a retreat from their peaks this year, industry experts have weighed in on whether the decentralized finance bubble has burst, or if it will rise from the ashes. Top quality projects like Chainlink, Aave…
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The cybersecurity millionaire and former presidential candidate sees new additions to his legal woes. On Monday, the U.S. Securities and Exchange Commission filed suit against John McAfee for allegedly promoting initial coin offerings (ICOs) without disclosing that the ICO issuers were paying him, a violation of U.S. securities law. Per the complaint: “From at least…
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SEC v. Kik doesn’t have to be game-over for Kik or SAFTs. In fact, the decision is perhaps more favorable than the SEC v. Telegram order. On the last day of September 2020, Judge Alvin K. Hellerstein dashed the hopes of Kik Interactive, crypto entrepreneurs and Simple Agreement for Future Tokens, or SAFT, proponents in…
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Decentralized finance clearly has the potential to change the world, but most of what carries that moniker today is not at all truly DeFi. The ecosystem is crowded with early versions of DeFi with many flaws: Because the tech is new, because the chains they run on have their own shortcomings, and because people are…
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A judge has ruled that the $100 million ICO conducted by the Canadian messaging platform Kik in 2017 violated federal securities laws. U.S. District Judge Alvin Kellerstein has sided with the U.S. Securities and Exchange Commission (SEC), ruling that the Canadian technology firm Kik’s $100 million initial coin offering (ICO) violated federal securities laws. On…
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“I am handing over the public-listed company’s business to the new directors and I will concentrate on cryptocurrencies,” said the 65-year-old. The founder of Malaysian investment giant Country Heights Holdings is stepping down from his position to focus on issuing a cryptocurrency. According to a Sept. 28 article in news outlet The Edge Markets, billionaire…
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This project is continuing to build momentum three years after their token sale. After securing millions of dollars via an initial coin offering in 2017, decentralized data housing platform Filecoin now aims to launch its mainnet. Filecoin will move over to its own blockchain in stages, rather than all at once, according to a Sept.…
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Cameron Winklevoss and Tone Vays disagree on the quality of the DeFi space within the context of previous blockchain booms and busts. The crypto industry has boasted tremendous growth over the past year, largely thanks to the decentralized finance, or DeFi, boom. Some believe that the DeFi sector resembles the initial coin offering, or ICO,…
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