Category: Regulatory Law
Eight Finance Social Media Influencers Charged In $100 Million Market Manipulation Scheme
The U.S. Securities and Exchange Commission (“SEC”) has announced charges against eight finance-oriented social media influencers in an alleged $100 million securities fraud scheme, in which they engaged in “pump-and-dump” market manipulation by leveraging their following on various social media platforms. The securities fraud charges, unsealed on December 13th, name seven defendants with an eighth… Read More
New California Law Establishes Broad Protections for Children’s Online Privacy – Exceeding Federal Requirements
California made history in September as the first state to enact legislation that punishes technology companies for violations of minors’ privacy and for practices that jeopardize minors’ safety in an effort to prioritize “the privacy, safety, and well-being of children over commercial interests.” On September 15th, Governor Newsom signed The California Age-Appropriate Design Code Act… Read More
D.C. Becomes First Place in U.S. to Legalize Online Poker
April 7, 2011 saw a historic moment in igaming as the District of Columbia became the first American jurisdiction to enact a law that allows online poker wagering. The amendment, called the “Lottery Modernization Act of 2010” for the year it was introduced, is part of a larger budget bill passed by the D.C. Council… Read More
Not So Fast: District Court Balks at SEC’s Blanket Characterization of Tokens as Securities
An issue of major importance to cryptocurrency and digital token markets has been whether tokens were all to be considered securities under U.S. law. The SEC’s frequent admonishments that it would consider ICOs to be securities offerings has caused a dramatic slowdown in the U.S. ICO market. In one of the first cases to test… Read More
Cryptocurrency Exchanges Must Navigate An Outdated Regulation System
More consumers are adopting cryptocurrency than ever, but regulators are less enthusiastic. As a result, cryptocurrency exchanges spend unnecessary time and resources working to comply with outdated guidelines. Kraken, which oversees $150 million in daily cryptocurrency transactions, is the latest exchange to experience this problem. In an effort to bring itself into compliance with current… Read More
Customer Data Collection: GDPR Changes Everything.
Beginning on May 25, 2018, companies which process the personal data of European Union residents will be expected to comply with the General Data Protection Regulation, or GDPR. Even companies located in the United States are subject to this regulation, and violating its terms may result in class actions and hefty fines. If your company… Read More
In 2016- Who Will (Finally) Say Yes To Regulated Online Gaming?
*This article first appeared in the January 2016 issue of eGR North America Magazine Pennsylvania is the most likely, and has been making slow but relatively steady progress since it commissioned a study into online gaming back in 2014. Since then, several bills have been introduced. Efforts have stalled, but not as in other jurisdictions where… Read More
Recap of RAWA House Subcommittee Hearing and What It Means for iGaming
The House Subcommittee on Crime, Terrorism, Homeland Security, and Investigations held a hearing last week to consider bill HR 707, the “Restoration of America’s Wire Act,” or RAWA. The proposed bill would prohibit most types of online gambling, whether or not they have been legalized and regulated by any state. The bill was drafted in… Read More
Extra Caution Required in Mobile Advertising as New Jersey DGE Releases Guidance for Affiliate Marketers
Today, the New Jersey Office of the Attorney General, Department of Law and Public Safety, Division of Gaming Enforcement (“DGE”) released additional guidance for affiliate marketing companies working with state online gaming operators. This guidance comes only weeks after the DGE issued warning letters to affiliate marketers who advertised unregulated online gaming websites in conjunction… Read More
New York to Cash In with its Online Poker Bill
Introduced as “S 6913” on March 29, 2014, New York’s online poker bill will allow for poker only, both cash and tournament play. The bill allows New York to enter into liquidity-sharing arrangements with other states. As of now, the bill authorizes 10 online poker licenses that are good for 10 years. The licensing fee… Read More
IFRAH Law
