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Blockchain Week in Review - December 2020 #2 | Perkins Coie


Weekly Focus:
Digital Asset ‘Stacks’ Plans 2.0 Launch as Non-Security
Secretary Mnuchin Emphasizes G7 Coordination on Digital Currencies
CFTC and SEC Leaders to Step Down
DOJ Indicts ICO Promoter for Tax Fraud, SEC Files Civil Suit
France Strengthens Anti-Money Laundering (AML) Requirements for Digital Asset Companies
Thailand Plans to Incorporate Blockchain into Tax Revenue Collection Systems
U.S. Developments
Members of Congress Request SEC Clarity On Digital Securities Custody
On December 9, a bipartisan group of representatives penned a letter to SEC Chairman Jay Clayton regarding the issue of broker-dealer custody of digital securities. In the letter, the representatives encouraged the SEC and FINRA to address digital asset custody in light of recent interpretive guidance from the Office of the Comptroller of the Currency (OCC) clarifying that national banks may provide custody services for digital assets. ....

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This Week In Securities Litigation (Week of December 14, 2020)


This Week In Securities Litigation (Week of December 14, 2020)
The exit continues at the Commission. This week Director of Enforcement Stephanie Avakian announced her departure from the agency at the end of the year. She has been preceded by the Director of Corporation Finance and the General Counsel. The Chairman previously announced his departure at year end.
Last week Enforcement filed a series of cases. Two were based on false statements tied to financial issues, one against GE and another involving CheeseCake Factory. The agency also brought two offering fraud actions, a case involving digital assets and another tied to share class selection conflicts. ....

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