On June 4, 2018, the U.S. SEC named Valerie A. Szczepanik as its first ever Crypto Czar. According to the press release, in this newly created advisory position, Ms. Szczepanik will coordinate efforts across all SEC Divisions and Offices regarding the application of U.S. securities laws to emerging digital asset technologies and innovations, including ICOs and cryptocurrencies.
In an earlier post, we reported on the North American Securities Administrators Association (NASAA)’s Operation Cryptosweep, coordinated series of enforcement actions by state regulators to crack down on fraudulent cryptocurrency-related investment schemes. Under that operation, the Vermont Department of Financial Regulation issued, on June 4, a cease and desist order to LevelNet, of Irving, California, for violations related to the Vermont Uniform Securities Act. According to the department, LevelNet is conducting an ICO seeking to…
On June 4 the first meeting of the Blockchain Working Group was held at the Office of the Polish Financial Supervision Authority. This Working Group includes members of the inter-ministerial Working Group for the development of financial innovations (FinTech) and additional market entities representing the cryptocurrency and blockchain technologies. The purpose of the Group’s activities is to initiate dialogue with market representatives on DLT / blockchain technology, including cryptocurrencies and other digital tokens, in the…