Tweet On Friday, a Quebec Court ordered the founder of an illegal ICO, Dominic Lacroix, to transfer $3.7 million worth of Bitcoin during a Court hearing and threatened him with incarceration if he did not immediately do so. Lacroix created the Plexcoin ICO which is the subject of an enforcement action by the SEC. According […]
Tweet Executive Order President Trump issued an Executive Order imposing economic sanction on the initial coin offering (“ICO“) by the Government of Venezuela, called the Petro coin (the “Petro ICO“). The Executive Order makes it illegal to engage in transactions, dealings or financings in connection with the Petro ICO, which would include buying, selling, trading, […]
Tweet Digital currency issuers often ask about the Howey Test and its applicability to their activities. Here is our summary of the law. In determining whether digital currencies are securities, securities regulators in Canada have expressly stated that they are evaluating digital currencies within the framework of three court decisions that considered the elements of […]