New York Securities Law Blog

Enthusiasm for Bitcoin has factored largely in many decisions to invest in the cryptocurrency market.

But according to 11 class actions filed on April 3 in the Southern District of New York, four crypto-asset exchanges and seven digital token issuers took advantage of that enthusiasm by unlawfully issuing and selling billions of dollars of unregistered digital tokens.

The lawsuits claim that the issuers and exchanges failed to comply with state and federal securities laws.

In a landmark digital currency ruling, a US District Judge in Manhattan has issued a preliminary injunction against Telegram. The Securities and Exchange Commission (SEC) initiated the lawsuit against Telegram in an attempt to bar the launch of the Company's Open Network blockchain. The judge maintained the SEC's claims that Telegram's initiative to produce a new digital currency for its TON platform involved the sale of unregistered securities.

Embezzlement occurs anytime someone misappropriates funds from an employer, whether the payoff is big or small. For some people, one small action--just this once--can lead to a series of bad choices that lead to criminal charges.

Former New York congressman Chris Collins has resigned after a long fight with the Securities Exchange Commission over insider trading charges.

Mr. Collins was expected to be tried in February, along with his son, Cameron Collins, and another man named Stephen Zarsky. All of them plead not guilty at the time. However, circumstances changed on Oct. 1 when Collins plead guilty for conspiracy to commit securities fraud and lying to federal investigators.