Morrison Cohen LLP, a New York-based legal firm has launched a crypto litigation tracker what it calls the ‘Moco Cryptocurrency Litigation Tracker’. The tracker seeks to provide the updates and information on all the active legal proceedings happening in the United States which are involving the cryptocurrency companies which tends to yield greater transparency regarding the legal embroilments of the companies which are operating on the basis of virtual currency industries.
As per the company’s statement, Morrison Cohen’s Cryptocurrency Litigation Tracker is capable of displaying the information regarding 63 ongoing proceedings which are taking place all around the United States. The cases would be arranged chronologically and would be sorted according to the nature of the litigation which is in question. The company has described the tracker as an offering with increased transparency with respect to the legal affairs of the companies which tend to operate in the digital currency or cryptocurrency industry. Apart from this, the prospective investors would be able to quickly ascertain as to whether the company is presently a subject to a legal action or not. The tracker would also be providing the links to the documentation related to the listed proceeding.
Currently, 27 of the 63 listed cases are described ‘Summary Suspensions/ Cease and Desist orders’, 24 are described as ‘Class Action and Other Private Litigation’ and the other 18 cases are ‘Regulatory Litigation and Proceedings.’ The company would also be tracking the regulatory pronouncements regarding the Securities and Exchange Commission, Commodity Futures Trading Commission, Financial Industrial Regulatory Authority and the New York State Department of Financial Services, in addition to other regulatory announcements.
The future of the Morrison Cohen’s Cryptocurrency Litigation Tracker is something which is beyond the imagination of the citizens of the United States. But all we could see is an easier way of tracking all the litigations with respect to the virtual currency with a more secure and better platform.