While the world at large shelters in place due to COVID-19 legal
and regulatory activity of digital asset and the blockchain world
is hopping. Below are a just a few stories of import and interest
from the last few weeks, many of which are covered in more detail
on the BitBlog. For additional coverage of the COVID-19 epidemic,
the
Polsinelli COVID-19 blog offers wealth of for guidance on
issues such as health care, labor and employment, real estate and
emergency financial support.
Hanging on the Telephone: Judge Enters Order Blocking Telegram
ICO
In what may be the most important FinTech legal ruling of the
last few weeks or potentially this year, Judge P. Kevin Castel of
the Southern District of New York struck his gavel and "hung
up" on Telegram's contentious $1.7 billion initial coin
offering ("ICO"). Judge Castel ruled Telegram's
planned distribution of Grams, a digital asset to be used on the
TON Blockchain, likely constitutes a securities offering under
