Category: ICO

US Crypto Regulation Needs a Hard Fork

The term “security” is defined to include, among other things, any stock, note, bond or investment contract. Federal courts have consistently held that crypto assets, in and of themselves, are not securities, but may be sold as the object of an investment contract security. Of course, instruments such as common stock and warrants are securities whether issued in tokenized form or not. But the most widely traded crypto assets more closely resemble currencies, trading cards and other commodities that ordinarily fall outside of the security definition. Source

FTX’s $228M Settlement WIth Bybit Brings Conclusion of Epic Liquidation Closer

“We are pleased to be in a position to propose a chapter 11 plan that contemplates the return of 100% of bankruptcy claim amounts plus interest for non-governmental creditors,” the bankrupt FTX’s liquidation CEO John Ray said in a statement when the final plan, which was based on a recovery of as much as $16.3 billion in assets, was announced in May. “I want to thank all the customers and creditors of FTX for their patience throughout this process.” Source

Global privacy authorities issue follow-up joint statement on data scraping after industry engagement

We and several global counterparts are highlighting how social media companies can better protect personal information, as concerns grow about mass scraping of personal information within social media platforms, including to support artificial intelligence systems. We and our counterparts from 16 other global data protection authorities engaged with some of the world’s largest social media companies after issuing a joint statement on data scraping last year. As a result of this engagement, they have now issued a follow-up statement laying out additional takeaways for industry. The joint statement that was…