Crypto and the blockchain are changing the way many businesses operate, or at least thinking about securing assets. However, as with any new technology, there are people who are taking advantage of the buzz around it to scam people and institutions eager to be on the cutting edge. Some of these scams are unfortunately crypto Ponzi schemes. As one of the few law firms in New … [Read more...] about What is a Ponzi Scheme? And Can Crypto Fall Prey?
The long-awaited release of President Biden’s executive order on crypto policy means we will soon be seeing more action in this area. But there is one agency that is already flexing its regulatory muscles. The Securities and Exchange Commission (SEC), whose enforcement arm is led by former New Jersey Attorney General Gurbir S. Grewal, is aggressively ratcheting up regulation … [Read more...] about SEC Ratchets Up Regulation Of Crypto Companies
The new session of the New Jersey legislature is just getting underway, but two bills that could have a profound impact on the use of digital currency in the Garden State have already been introduced. As one of the state’s leading law firms in the cryptocurrency and blockchain-related litigation space, Dressel/Malikschmitt is closely following this year’s legislative action. … [Read more...] about New Jersey Bills Would Regulate the Blockchain
It’s not often that a defendant will label a $100 million dollar judgment against him as a “victory,” but it’s a surprising result of current cryptocurrency courtroom disputes. It was precisely the label Craig Wright attached to a jury’s award earlier this month in the action filed against him by Ira Kleiman, the brother of Wright’s business partner David Kleiman. Anonymous … [Read more...] about Cryptocurrency Courtroom Tales: $100 Million Judgement Victory
The story of the SQUID crypto token is a perfect illustration of the opportunities cryptocurrency permits for scammers and the dangers it poses for investors. The SQUID token was a game token, ostensibly used to play games within the internet environment made by the token’s creators. Like many game tokens, it had a play-to-earn system, but primarily investors were buying … [Read more...] about SQUID Crypto Token and Dangers to Investors