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A Blog About FTC regulations and happenings

On July 25, the Securities and Exchange Commission’s (SEC) Division of Corporation Finance issued a letter to Pocketful of Quarters, Inc. (PoQ), informing PoQ that it would not recommend enforcement action in regards to PoQ’s proposal to sell tokens (called Quarters) on its gaming platform.  The SEC informed PoQ that based on PoQ’s description of its plans for the Quarters tokens, the tokens would not be considered securities under the Exchange Act. PoQ developed the Quarters Platform using blockchain technology to allow users of the platform to use Quarters as an in-game token across multiple participating online videos games, and to enter e-sports tournaments.  Esports tournaments utilizing Quarters tokens at the time of the token’s launch will be available on many popular games, including Fortnite, Minecraft, and Call of Duty.  Quarters will also be able to be used for in-game purchases. To use Quarters, users must register for the Quarters Platform on the PoQ website to create a wallet to store Quarters.  Quarters can be purchased on the PoQ website... Read more

It’s been a busy summer for the FTC and the federal agency is dominating the headlines. There is the $5 billion settlement with Facebook for failing to better protect user privacy, which was announced earlier this month. Then there is the multimillion dollar settlement with Google for failing to adequately protect children’s privacy. That was… Read More

Although the Telephone Consumer Protection Act (“TCPA”) limits the ways in which companies may contact individuals via automated dialers, with prerecorded messages, or via text message, one of its hallmarks is that companies are entitled to contact consumers who have provided their express consent to be called.  However, in 2015, the Federal Communications Commission (“FCC”)… Read More

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… 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