Posts by Luke Salzwedel
When is a cryptocurrency exchange required to become a registered exchange?

The precipitous rise of cryptocurrencies has numerous implications for securities trading, the most fundamental of which is when, and if, any given cryptocurrency exchange is required to become a registered exchange as defined by the SEC.

A cryptocurrency is a digital currency that can be traded and exchanged (Ian King, Investopedia). One defining feature of cryptocurrency is that it is decentralized, meaning it is not issued by a central bank or regulatory agency. Id.This foundational aspect of cryptocurrencies is desirable to investors because unlike traditional fiat currencies that are subject to governmental control and manipulation, cryptocurrencies and their values operate independently from a central authority.

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Cryptocurrency, Summer 2018 Special TopicLuke SalzwedelLuke Salzwedel
Cohen v. Kitov Pharmaceutical: Court Denies Defendant’s Motion to Dismiss

In Cohen v. Kitov Pharmaceutical Holdings, Ltd., No. 17 Civ. 0917 (LGS), 2018 BL 94656 (S.D.N.Y. Mar. 20, 2018), the United States District Court for the Southern District of New York denied in part and granted in part a motion to dismiss a putative class-action suit against Kitov Pharmaceutical Holdings, Ltd. (“Kitov”), CEO Isaac Israel, and CFO Simcha Rock (collectively “Defendants”) brought by lead plaintiffs Rotem Cohen and Jason Bruening (collectively “Plaintiffs”). The complaint alleged violations of Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 (the “Act”). The court denied the motion to dismiss with regard to defendants Kitov and Israel but granted the motion to dismiss concerning defendant Rock.

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Shareholder ActionsLuke SalzwedelLuke Salzwedel