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A Blog About FTC regulations and happenings

In a paradox of sorts, cryptocurrency’s continued survival may hinge on its submission to greater regulatory oversight. Such a notion is paradoxical in the sense that cryptocurrency’s origins can be traced to a “stick it to the man” mentality in which currency is decentralized and not tied to any one governmental body. Thus, submitting to regulatory oversight seems anathema to cryptocurrency’s credo. That is, until a few bad actors poison the well. Consider the following recent examples. In one instance last week, a company that appeared to be raising money to launch a cryptocurrency for labeling fruit and vegetables disappeared overnight. In that span of time, the company’s entire website was replaced with landing page that displayed only the word “penis.” Fortunately for investors, the company only had raised around $11 at the time of its disappearance. Earlier, an anonymous developer had launched “PonziCoin.” Despite the fact that this cryptocurrency explicitly purported to be a pyramid scheme, and the fact that its site was filled with tongue-in-cheek commentary on the... Read more
Assert Your FTC Defense Before It’s Too Late
February 1, 2018

Assert Your FTC Defense Before It’s Too Late

By: Ifrah Law

The Federal Trade Commission (“FTC”) is granted extraordinary authority to conduct investigations without giving notice to the companies in its sightlines, and the agency can enact sudden and unforeseen enforcement actions like asset freezes and TROs which take its targets completely by surprise. Often a company’s first clue it is under investigation is when it… Read More

2018: The End of Cryptocurrencies?
January 22, 2018

2018: The End of Cryptocurrencies?

By: Steven Eichorn

Cryptocurrencies (e.g. Bitcoin) took the broader public by storm in 2017 and had a breakout year. There were outsized and even unprecedented returns, along with extreme volatility and even more extreme volatility.  The question for 2018 is whether cryptocurrencies had their “fifteen minutes of fame” or they are here to stay? Blockchain technology (which is… Read More

No one likes being on the receiving end of an immunization shot, but many of us submit to a flu shot each fall or winter.  David Latner, a patient of the Mount Sinai Health System’s West Park Medical facility, apparently found a single text from West Park reminding him about flu shots to be alarming… Read More

The first of the year is a good time to make assessments, resolutions and predictions. We have some recommendations for companies that store and process consumer data: It is a good time to assess the strength of your data security measures and resolve to meet industry standards where you fall behind, because we predict continued… Read More

Following a change of heart from a top Securities and Exchange Commission regulator, public companies will likely soon face new guidelines for how they report cybersecurity breaches to investors. SEC Corporate Finance Division Director Bill Hinman was quoted as saying that when Chairman Jay Clayton first asked him if the existing SEC guidance needed to… Read More

Bitcoin and a host of cryptocurrencies have taken both Wall Street and Main Street by storm in 2017.  The nearly continuous gains in the price of Bitcoin have spawned numerous imitators and led a number of companies to raise critical start-up funds by selling their own token/cryptocurrency in a process similar to an initial public… Read More

The unregulated nature of virtual currencies like Bitcoin plays a big role in their appeal. However, wild swings in prices in addition to the perception that these markets are subject to manipulation, make it difficult—if not impossible—for the average person to rely heavily on Bitcoin and other virtual currencies as a currency, much less as… Read More

Cryptocurrency is the latest trend to be embraced by celebrities, so much so that the federal government this month issued a warning about the possible risks involved.  Both the U.S. Securities and Exchange Commission (SEC) and the Federal Trade Commission (FTC) have made clear that if a celebrity is being paid to promote a product… Read More

Deadline Fast Approaches for Final DMCA Registration
November 7, 2017

Deadline Fast Approaches for Final DMCA Registration

By: Steven Eichorn

The Digital Millennium Copyright Act (DMCA) provides a safe harbor from copyright infringement liability for online service providers. While not a particularly famous law, it is a critical law because it enables websites to accommodate user-generated content without being concerned for copyright infringement claims by hosting that content. However, in order to preserve their safe… Read More

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