On February 14, the SEC announced a settlement with BlockFi Lending LLC (BlockFi), a crypto service provider, further showing the increased legal scrutiny in this area in terms of regulatory action, joining the Consumer Financial Protection Bureau (CFPB)’s settlement with… Read More ›
Digital Economy Regulation
Federal Cryptocurrency Case Challenges PoolTogether Inc.’s “No-Loss Lottery”
A case filed on November 30, 2021 in Federal Court in the Eastern District of New York, is making the assertion that the cryptocurrency based “no-loss lottery” of Pool Together, Inc. (PoolTogether) is unlawful. The case is one of the… Read More ›
Concluded Legal Action against LendUp Loans, LLC, Provides Guidance for Other Lending Startups
Relevant to NYC’s lending startups, on December 21, the Consumer Financial Protection Bureau (CFPB) announced an agreement with LendUp Loans, LLC (LendUp) under which the company would cease making any new loans and collecting on certain outstanding loans among other restrictions and… Read More ›
New York Fed’s new Innovation Center will Develop Fintech Products and Services for Central Banking
On November 29, the Federal Reserve Bank of New York announced and launched its New York Innovation Center (NYIC) to be headed by Per von Zelowitz, for the purpose of developing financial technology products and services for the central bank… Read More ›
Increased Government Scrutiny of Large Tech Companies Increases at Both Federal and State Levels and Internationally
The anti-trust action brought by the U.S. Department of Justice during October of last year was not the first time federal regulators considered taking action against Google. Newly revealed documents from a 2011-2013 Federal Trade Investigation revealed by Politico also… Read More ›
A New Model of Worker Classification Emerges from California’s Proposition 22 as the Direction of the Gig Economy is Fought Over Intensely
On election day, ballot measure Proposition 22, backed by App-based driver and delivery companies Ubder, Lyft, DoorDash, Instacart and Postmates passed in California, creating an exemption from labor legislation passed last year that required them to classify drivers as employees… Read More ›
Google Calls DOJ Antitrust Action ‘Deeply Flawed’
In a blog post by SVP of Global Affairs Kent Walker, Google responded on Tuesday to the arguments found in the antitrust action brought against it by the U.S. Department of Justice the same day, asserting that consumers are not forced to… Read More ›
Calling Google the ‘Monopoly Gatekeeper of the Internet,’ U.S. Justice Department Files Antitrust Action
On Tuesday, the U.S. Department of Justice along with eleven states that include Florida, Texas and Arkansas filed a civil action against Google in the U.S. District Court for the District of Columbia alleging that the company unlawfully maintained “a monopoly in… Read More ›
International Agreement for Digital Tax Framework Delayed
On Monday the OECD announced that its efforts to develop a consensus international framework when it comes to taxing the digital economy has been delayed. Noting in a statement that while digital transformation “spurs innovation, generates efficiencies, and improves service while boosting more inclusive… Read More ›
Technology Law NYC 