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A Blog About FTC regulations and happenings

Crypto exchange Bittrex made news this week when it announced its first initial exchange offering (IEO), which it was to host through its Malta-based affiliate Bittrex International.  Bittrex planned to offer its registered members the opportunity to buy RAID’s XRD token.  RAID is an international gaming data blockchain project, with the goal to create a decentralized game data ecosystem where data can be freely exchanged among users.  The tokens were to begin sale on March 15, 2019.  Bittrex’s move to enter the exchange-hosted token sale space follows the precedent of crypto exchange Binance. Binance’s token sale platform, Launchpad, hosted the high-profile token sale for the Tron-based BitTorrent token (BTT) this January, followed by another public token sale for AI and smart contract project Fetch.AI in February. But yesterday, Bittrex abruptly cancelled the sale, citing “significant changes in the business status of RAID.”  The cancellation is obviously a blow to Bittrex, but it appears to have developed major concerns about RAID’s plans.  In a tweet, Bittrex hinted at this... Read more

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 US ICO market.  In one of the first cases to test… Read More

Much excitement surrounds the 2018 Farm Bill – the Agricultural Improvement Act of 2018 – which President Trump recently signed into law. The hubbub is all about hemp. The new law removes hemp from the Controlled Substances Act and opens markets across the fifty states to hemp and its many derivatives. Farmers and product manufactures… Read More

Make room Europe: California is taking on the data privacy challenge. For the last year or so, the privacy world has been abuzz with how to implement the E.U.’s General Data Protection Regulation. The buzz died down once GDPR went into effect in late May. But no rest for the weary. A little over a… Read More

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 As a result, cryptocurrency exchanges spend unnecessary time and resources working to comply with outdated guidelines.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

In a ruling announced today, the Supreme Court held that online businesses can be subjected to sales tax even in states where they do not have any brick-and-mortar operations. The case, South Dakota v. Wayfair, Inc., overturns longstanding precedent requiring “physical presence” to subject a seller to state sales tax, representing a big change for… Read More

  On June 6, 2018, the United States Court of Appeals for the Eleventh Circuit issued a landmark ruling in LabMD v. Federal Trade Commission. While the Eleventh Circuit impliedly held that the Federal Trade Commission (“FTC”) has authority to take enforcement action against companies whose unfair practices lead to data security incidents that pose… Read More