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Stablecoins: Revolutionizing Global Finance?

Following the recent focus on two major regulatory frameworks—the Guiding and Establishing National Innovation for U.S. Stablecoins Act (known as the GENIUS Act) in the United States, and Regulation (EU) 2023/1114 of the...more

U.S. House Passes GENIUS and CLARITY Acts, Signaling Bipartisan Support for Digital Assets

The GENIUS Act's passage marks the first major crypto legislation approved by both chambers of Congress, signaling a significant step toward regulatory clarity for stablecoins, while the CLARITY Act's advancement by the House...more

CFTC Divisions Interpret "U.S. Person" Definition and U.S. Location Versus Foreign Location

A 2024 CFTC enforcement action settlement that may have introduced a new test for when the Commodity Exchange Act and the agency's regulations apply on a cross-border basis concerned then-CFTC Commissioner and now Acting CFTC...more

Regulating Digital Assets: New Market Structure Bill Builds on FIT21 Framework

The House Committees on Financial Services and Agriculture have unveiled a discussion draft for a new comprehensive U.S. crypto market structure bill, aiming to establish clear regulatory boundaries between the U.S....more

SEC Division of Corporation Finance: Certain U.S. Dollar-Backed Stablecoins Are Not Securities

As the Trump administration and Congress seek to establish clear digital asset regulation, uncertainty remains on whether federal agencies consider stablecoins to be "securities" under federal law....more

Economic Report of the President to the Crypto Industry: Thanks, But No Thanks

In Short - The Situation: For the first time, the Economic Report of the President (the "Report") includes a chapter on digital assets....more

SDNY Issues Two Rulings in Closely Watched Enforcement Action Against Ripple Labs

The SEC's Enforcement Action Against Ripple - In December 2020, the SEC commenced an enforcement action against Ripple and two of its senior executives alleging that the defendants violated Section 5 of the Securities Act...more

New York Joins Other States in Enforcement Actions Against Unregistered Virtual Currency Lending Platforms

On October 18, 2021, New York Attorney General Letitia James directed two virtual currency lending platforms to immediately cease their unregistered and allegedly unlawful activities in New York and sent letters to three...more

Regulating the Ether: Lessons for the MENA Digital Asset Industry from U.S. Enforcement Actions

As the global digital asset industry continues to grow, regulators worldwide have increased efforts to define and shape the legal landscape through various approaches. In the UAE, for example, the Financial Services...more

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