In our 229th episode of The Cyberlaw Podcast, Alan Cohn, Maury Shenk, Charles Mills, Claire Blakey, and Evan Abrams take over the podcast.
- Charles Mills provides an overview of the recent New York federal court decision and Commodity Futures Trading Commission (CFTC) victory against Cabbage Tech, Corp. d/b/a Coin Drop Markets and Patrick K. McDonnell of Staten Island, New York, ordering McDonnell to pay over $1.1 million in civil monetary penalties and restitution in connection with a lawsuit brought by the CFTC alleging fraud in connection with virtual currencies, including Bitcoin and Litecoin. In addition, Charles presents a more general overview of CFTC regulations.
- Claire Blakey discusses the US Securities and Exchange Commission’s (SEC) August 23, 2018 announcement to reconsider a recent decision to reject nine Bitcoin-based exchange traded funds. Earlier this month, SEC staff delayed a decision on the SolidX proposal, stating it needs more time to consider the proposal – the deadline for this decision is Sept. 30.
- Evan Abrams highlights the four takeaways from the Department of Treasury’s Financial Enforcement Network (FinCEN) director’s speech on cryptocurrency. On August 9, 2018, FinCEN Director Kenneth Blanco delivered a speech on the agency’s approach to cryptocurrency. In addition, Evan discusses the Office of the Comptroller of the Currency’s proposed charter for online lenders and other FinTech companies in the coming months.
- Maury Shenk covers the recent reports about the EU finance ministers’ plan to discuss the possibility of cryptocurrency regulation at a meeting in early September. In addition, Maury discusses the European Blockchain Partnership.
- Sarah Compani, Legal Counsel at Bitfinex, discusses the best security practices for users of exchanges, focusing on security settings that users can customize, such as 2FA. More generally, Sarah provides insight into the industry and the potential role of exchanges in the future.
As always, The Cyberlaw Podcast is open to feedback. Send your questions, comments, and suggestions for topics or interviewees to CyberlawPodcast@steptoe.com. Remember: If your suggested interviewee appears on the show, we will send you a highly coveted Cyberlaw Podcast mug!
The views expressed in this podcast are those of the speakers and do not reflect the opinions of the firm