For crypto enthusiasts, one of the burgeoning technology’s great appeals is its international reach. For litigants, though, one of its great hurdles may be that same international reach. The U.S. Court of Appeals for the Second Circuit’s recent non-precedential summary order in Barron v. Helbiz, 2021 WL 4519887 (2d Cir. Oct. 4, 2021), grapples with this point and addresses some of the challenges that can be made on extraterritoriality grounds to applying U.S. federal and state law in the cryptocurrency context. How far is too far when it comes to litigating crypto in the United States?
Robert A. Schwinger explores recent developments in this edition of his New York Law Journal Blockchain Law column.
Download the full New York Law Journal article, "Out to sea? Extraterritoriality challenges in US crypto litigation."
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The US Supreme Court has ruled that a “pure omission” under Item 303 of Securities and Exchange Commission Regulation S–K cannot give rise to a private action for securities fraud under Section 10(b) and Rule 10b-5(b) of the Securities Exchange Act of 1934.
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