Federal agencies aggressively pursued enforcement actions in June. At the same time, state and federal regulators continued to recognize the importance of blockchain industry regulation by putting forth significant policy proposals, including proposals that impact cryptocurrency miners, 401k plans, and more.
Enforcement Actions
The Department of Justice brought charges of wire fraud (on an insider trading theory), and money laundering against an employee of an NFT marketplace. The DOJ asserts that the defendant abused confidential information regarding NFTs that would be listed on a leading NFT marketplace’s homepage for his own personal gain. According to the charges, the employee purchased NFTs that he knew would be listed on the marketplace’s homepage, and sold them in accordance with the increased demand resulting from that listing. “After an NFT was featured on [the] homepage, the price buyers were willing to pay for that NFT, and for other NFTs made by the same NFT creator,...
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INN caught up with cryptocurrency investment expert Dan Hoover to review the current landscape and where the market may be heading. The cryptocurrency investment marketplace has gone through severa...