• On March 7, 2018, the SEC’s Enforcement Division and its Trading & Markets Division issued a joint “Statement on Potentially Unlawful Online Platforms for Trading Digital Assets.”[1]  The release appeared to be the strongest signal yet of a broadening of the SEC’s enforcement and regulatory interest beyond its focus since last year on the need for certain coin offerings to be registered or to qualify for an exemption as private placements.

     

    [1] Available here: https://www.sec.gov/news/public-statement/enforcement-tm-statement-potentially-unlawful-online-platforms-trading.

  • While the SEC's Division of Corporate Finance has begun to explore ways to distinguish between utility tokens and securities, Arizona and Wyoming have already proposed legislation designed to provide a more definitive framework to ICO regulation.  The proposed legislation illustrates the trade-off that regulators are faced with: fostering the growth of the ICO market by providing clear-cut rules or ensuring investor protection by adopting a policy-driven approach that suffers from line-drawing problems.

  • Joseph Facciponti, a former prosecutor at the U.S. Attorney’s Office for the Southern District of New York with in-house experience in the financial sector, has joined the firm of Murphy & McGonigle as a shareholder in its New York office.

  • Murphy & McGonigle Hires from Cadwalader
    Global Investigations Review (Subscription Required) | (02/22/2018)

    Former federal prosecutor Joseph Facciponti has joined white-collar boutique Murphy & McGonigle in New York as a shareholder in its cybersecurity practice.

  • 7 Trends Shaping the Evolving ICO Economy
    CoinDesk, Inc. | (02/12/2018)

    Murphy & McGonigle partner Timothy Peterson comments in CoinDesk on trends in the ICO regulatory and enforcement environment.

  • For the sixth year in a row, U.S. News & World Report and Best Lawyers selected Murphy & McGonigle as a National Tier 1 Law Firm. This year, we were honored in Securities Regulation, Securities Litigation, and Corporate Law. Only 25 firms received National Tier 1 recognition in all three areas. We are the youngest and smallest firm among those 25 listed, by far.