"Know Your Cryptocurrency: Traditional Due Diligence in a Disrupted World," New York Law Journal

In this article, Jenner & Block Partners David Bitkower and Michael W. Ross and Associate Emily A. Bruemmer discuss the enthusiasm for cryptocurrency that has swept the financial world and the frequent reports of fraud and abuse that have come along with it.  The article explains that regulators such as the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission have sounded the alarm that the virtual currency frontier is a digital Wild West.  The authors highlight the types of steps companies should consider taking to safeguard against these abuses by examining two recent cases:  1) the SEC’s enforcement action against the PlexCoin ICO and 2) enforcement actions by DOJ and the Financial Crimes Enforcement Network against virtual currency exchange BTC-e and its proprietor.
 
 

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© 2026 Jenner & Block LLP. Attorney Advertising. Jenner & Block LLP is an Illinois Limited Liability Partnership including professional corporations. This publication, presentation, or event is not intended to provide legal advice but to provide information on legal matters and/or firm news of interest to our clients and colleagues. Readers or attendees should seek specific legal advice before taking any action with respect to matters mentioned in this publication or at this event. The attorney responsible for this communication is Brent E. Kidwell, Jenner & Block LLP, 353 N. Clark Street, Chicago, IL 60654-3456. Prior results do not guarantee a similar outcome. Jenner & Block London LLP, an affiliate of Jenner & Block LLP, is a limited liability partnership established under the laws of the State of Delaware, USA and is authorised and regulated by the Solicitors Regulation Authority with SRA number 615729. Information regarding the data we collect and the rights you have over your data can be found in our Privacy Notice. For further inquiries, please contact dataprotection@jenner.com.

"Know Your Cryptocurrency: Traditional Due Diligence in a Disrupted World," New York Law Journal
In this article, Jenner & Block Partners David Bitkower and Michael W. Ross and Associate Emily A. Bruemmer discuss the enthusiasm for cryptocurrency that has swept the financial world and the frequent reports of fraud and abuse that have come along with it.  The article explains that regulators such as the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission have sounded the alarm that the virtual currency frontier is a digital Wild West.  The authors highlight the types of steps companies should consider taking to safeguard against these abuses by examining two recent cases:  1) the SEC’s enforcement action against the PlexCoin ICO and 2) enforcement actions by DOJ and the Financial Crimes Enforcement Network against virtual currency exchange BTC-e and its proprietor.
 
 

Related Capabilities

Related Locations

© 2026 Jenner & Block LLP. Attorney Advertising. Jenner & Block LLP is an Illinois Limited Liability Partnership including professional corporations. This publication, presentation, or event is not intended to provide legal advice but to provide information on legal matters and/or firm news of interest to our clients and colleagues. Readers or attendees should seek specific legal advice before taking any action with respect to matters mentioned in this publication or at this event. The attorney responsible for this communication is Brent E. Kidwell, Jenner & Block LLP, 353 N. Clark Street, Chicago, IL 60654-3456. Prior results do not guarantee a similar outcome. Jenner & Block London LLP, an affiliate of Jenner & Block LLP, is a limited liability partnership established under the laws of the State of Delaware, USA and is authorised and regulated by the Solicitors Regulation Authority with SRA number 615729. Information regarding the data we collect and the rights you have over your data can be found in our Privacy Notice. For further inquiries, please contact dataprotection@jenner.com.

News and Insights

Event

Associate Steven Arango to Speak at the Veterans' Legal Career Fair

On September 18, Associate Steven Arango will speak on a panel at the Veterans' Legal Career Fair (VLCF), the only legal career fair in the United States dedicated to veterans, active-duty service members, and military spouses.

September 18, 2026

Publications

In American Banker, Partner Laurel Loomis Rimon Weighs in on OCC's Handling of Fintech Bank Charter Applications

Partner Laurel Loomis Rimon spoke with American Banker about how the Office of the Comptroller of the Currency is approaching bank charter applications from fintechs, amid a growing wave of companies seeking charters from federal regulators.

August 18, 2026

Event

Partner David Greenwald to Speak at PLI Program on Privilege and AI

On August 17, David Greenwald will speak at "Fitting New “Tech” Into the Attorney-Client Privilege and Work Product Protection," a virtual program hosted by the Practising Law Institute (PLI).

August 17, 2026

Publications

In Law360, Trump Debarment Threat Calls for Targeted Defense Plan

Partners Ashley Callen and David Robbins authored an article for Law360 examining how entities should respond when suspension or debarment is threatened directly by the president, rather than initiated through the usual agency-driven process.

August 6, 2026