CRYPTO CATASTROPHE | Insider Trading, Coinbase and Securities Law (VL693)

When one of the biggest cryptocurrency exchanges (Coinbase) has an employee allegedly leaking valuable information to his brother and friend, the law will certainly have something to say.

The question is are the DOJ and SEC right, or does the law need a full rework to fully accommodate our allegedly inevitable crypto future.

This isn't a bit, we just sometimes find ourselves out in the ether...in Virtual Legality.

CHECK OUT THE VIDEO AT: https://youtu.be/EafL0w48IAg

#crypto #cryptocurrency #insidertrading

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CHAPTERS
00:00 Introduction
02:25 Charges of Insider Trading
16:49 Wire Fraud Explained
21:50 What is a Security/SEC Regulation
30:09 Conclusion

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Discussed in this episode:

ARTICLES
https://www.wsj.com/articles/former-coinbase-employee-charged-in-alleged-insider-trading-scheme-11658420556
https://fortune.com/2022/07/21/coinbase-sec-lack-clear-digital-securities-rules-crypto-huge-missed-opportunity-faryar-shirzad/

DOJ DOCUMENTS
https://www.justice.gov/usao-sdny/pr/three-charged-first-ever-cryptocurrency-insider-trading-tipping-scheme
https://www.justice.gov/usao-sdny/press-release/file/1521186/download

LAW
https://www.law.cornell.edu/uscode/text/18/1343
https://www.law.cornell.edu/uscode/text/15/78j
https://www.law.cornell.edu/cfr/text/17/240.10b-5

COINBASE DOCUMENTS
https://www.coinbase.com/price/tribe
https://blog.coinbase.com/a-beginners-guide-to-ethereum-tokens-fbd5611fe30b
https://blog.coinbase.com/an-update-on-our-asset-listing-processes-e74421da21cc
https://assets.ctfassets.net/c5bd0wqjc7v0/5NRidtW8lvwVEfSHpndWQm/78f95afa4f0ebaaefb303e1a4f172d03/Coinbase_petition_for_SEC_rulemaking.pdf
https://blog.coinbase.com/the-crypto-securities-market-is-waiting-to-be-unlocked-but-first-we-need-workable-rules-c0ba63eabab3

SEC DOCUMENTS
https://www.sec.gov/news/press-release/2022-127

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"Virtual Legality" is a continuing series discussing the law, video games, software, and everything digital, hosted by Richard Hoeg, of the Hoeg Law Business Law Firm (Hoeg Law).

CHECK OUT THE REST OF VIRTUAL LEGALITY HERE:
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DISCUSSION IS PROVIDED FOR INFORMATIONAL PURPOSES ONLY AND IS NOT TO BE CONSTRUED AS LEGAL ADVICE. INDIVIDUALS INTERESTED IN THE LEGAL TOPICS DISCUSSED IN THIS VIDEO SHOULD CONSULT WITH THEIR OWN COUNSEL.

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Twitter: @hoeglaw
Web: hoeglaw.com