In 2022, cryptocurrencies rose and even more dramatically fell. Digital currencies, which were still considered a novelty by many, publicly made some investors very wealthy and were endorsed by very public figures. Yet, in the same year, the Securities and Exchange Commission (SEC) expanded its Crypto Assets and Cyber Unit, charging numerous organizations and their representatives for insider trading, Ponzi schemes, and misleading statements. Most notably, the close of 2022 saw the crash of FTX, a cryptocurrency exchange and hedge fund, which has resulted in the SEC charging its founder with orchestrating a scheme to defraud equity investors and more charges pending. As digital assets become more ubiquitous in 2023 and major cryptocurrency organizations, such as Binance, expand their legal teams:
- Attorneys should understand the technology and be informed about enforcement actions in this evolving regulatory landscape.
- Parties involved in digital assets or looking to better understand the technology and regulatory risks associated to it will find this primer a helpful guide.
In this online seminar, our expert panelists discuss the state of cryptocurrency and what caused the expansion of the SEC Cryptocurrency Assets and Cyber Unit. They describe the unit’s procedural conduct highlighting its investigatory priorities and reviewing its 2022 enforcement actions, expanding on the year’s most significant cases. Our speakers conclude by discussing what these regulatory changes will mean for decentralized finance companies and non-cryptocurrency companies that become involved in the digital assets industry and underlining the key takeaways to extract from these developments.
Topics covered in this webinar:
- Background to Cryptocurrency and the Securities and Exchange Commission (SEC)
- Conduct of New SEC Unit
- Impact on DeFi and Non-Crypto Companies
- Key Takeaways
Daniel B. Garrie, Esq. – Founder, Law & Forensics; Neutral, JAMS; Faculty, Harvard
David A. Cass – Senior Partner, Law & Forensics Adjunct Faculty Harvard & Rutgers Law
Jason Nagi – Head of FinTech & Chair of Distressed Real Estate, Offit Kurman, P.A.
John D’Agostino – CEO, Dagger Consulting LLC; Senior Advisor, Coinbase