On May 29, 2025, the Securities and Exchange Commission’s (SEC’s) Division of Corporation Finance issued a statement providing that certain cryptoasset staking activities in connection with proof-of-stake (PoS) networks do...more
On May 5, 2025, several House committees jointly released a discussion draft of a bill to establish a regulatory framework for digital assets. Notably, this proposed Act would clarify the jurisdictional boundaries between the...more
5/29/2025
/ Blockchain ,
Broker-Dealer ,
CFTC ,
Commodity Broker ,
Commodity Exchange Act (CEA) ,
Cryptocurrency ,
Decentralized Finance (DeFi) ,
Digital Assets ,
Digital Securities ,
FinTech ,
Proposed Legislation ,
Regulatory Agenda ,
Regulatory Reform ,
Regulatory Requirements ,
Securities and Exchange Commission (SEC) ,
Securities Regulation ,
Stablecoins ,
Technology
Key Points -
- The SEC’s Crypto Task Force acknowledges past hostility toward digital assets and aims to create more sensible regulations.
- Tokenized securities face complex regulatory challenges, including compliance...more
5/28/2025
/ Acquisitions ,
Blockchain ,
Broker-Dealer ,
Corporate Governance ,
Cryptocurrency ,
Digital Assets ,
Energy Sector ,
Financial Institutions ,
Financial Services Industry ,
Healthcare ,
Investment Company Act of 1940 ,
Life Sciences ,
Mergers ,
Private Equity ,
Retail Market ,
Securities and Exchange Commission (SEC) ,
Securities Exchange Act of 1934 ,
Securities Fraud ,
Securities Litigation ,
Securities Regulation ,
Securities Tokens ,
Technology
After years of regulatory uncertainty, the Trump administration has signaled a new approach to digital assets, including by establishing a working group focused on digital assets and nominating crypto-friendly chairs to the...more
5/6/2025
/ Artificial Intelligence ,
Blockchain ,
CFTC ,
Cryptocurrency ,
Cybersecurity ,
Data Privacy ,
Digital Assets ,
Enforcement Actions ,
Enforcement Priorities ,
FinTech ,
NYDFS ,
Popular ,
Regulatory Agenda ,
Regulatory Requirements ,
Risk Management ,
Securities and Exchange Commission (SEC) ,
State Attorneys General ,
Technology
Alex Drylewski, co-head of Skadden’s Web3 and Digital Assets Group, discusses the significant shift in U.S. crypto policy under the Trump administration with host Joseph Kamyar. Alex highlights recent regulatory developments,...more
For years, the Securities and Exchange Commission (SEC) and Commodity Futures Trading Commission (CFTC) have actively policed digital asset markets, bringing enforcement actions based on alleged failure to register products...more
President Trump has taken the first steps toward fulfilling his promise to reverse the Biden administration’s approach to digital assets by issuing an executive order that establishes a framework for fostering the growth of...more
2/10/2025
/ Biden Administration ,
Blockchain ,
CFTC ,
Cryptocurrency ,
Digital Assets ,
Digital Currency ,
Executive Orders ,
Financial Services Industry ,
FinTech ,
Popular ,
Regulatory Agenda ,
Regulatory Reform ,
Revocation ,
Securities and Exchange Commission (SEC) ,
Stablecoins ,
Technology Sector ,
Trump Administration
Key Points -
- A Republican president and Congress are expected to be more supportive of digital assets than the current administration.
- There is a reasonable chance that legislation creating a regulatory framework...more
1/15/2025
/ Banking Sector ,
Capital Markets ,
Cryptocurrency ,
Digital Assets ,
Digital Currency ,
Federal Bank Regulatory Agencies ,
Financial Regulatory Reform ,
Financial Services Industry ,
Legislative Agendas ,
Regulatory Agenda ,
Regulatory Reform ,
Securities and Exchange Commission (SEC) ,
Securities Regulation ,
Technology Sector ,
Trump Administration
Key Points -
- During its 2024 term, the U.S. Supreme Court is poised to provide important guidance on the Private Securities Litigation Reform Act’s (PSLRA’s) particularity requirement in NVIDIA Corp. v. E. Ohman J:or...more
12/6/2024
/ Acquisitions ,
Automotive Industry ,
Class Action ,
Cybersecurity ,
Data Privacy ,
Digital Assets ,
E-Commerce ,
Electric Vehicles ,
Energy Sector ,
Financial Institutions ,
Financial Services Industry ,
Healthcare ,
Investment Adviser ,
Life Sciences ,
Mergers ,
NVIDIA ,
Nvidia Corp v E Ohman J or Fonder AB ,
Pharmaceutical Industry ,
PSLRA ,
SCOTUS ,
Securities and Exchange Commission (SEC) ,
Securities Litigation ,
Securities Regulation ,
Technology Sector ,
Trading Platforms
Ninth Circuit Affirms Dismissal of Insider Trading Claims Against Satellite Operator Investors Based on Stock Sales After FCC Chairman Vote -
In re Silver Lake Grp., LLC Sec. Litig. (9th Cir. July 24, 2024)
What to...more
10/2/2024
/ Acquisitions ,
Aerospace ,
Bylaws ,
Cannabis Products ,
Class Certification ,
Commercial Litigation ,
Corporate Governance ,
Delaware General Corporation Law ,
Disclosure ,
FCC ,
Fraud ,
Healthcare ,
Insider Trading ,
Life Sciences ,
Marijuana ,
Mergers ,
Pharmaceutical Industry ,
PSLRA ,
Safe Harbors ,
Scienter ,
Securities and Exchange Commission (SEC) ,
Securities Litigation ,
Securities Regulation ,
Special Purpose Acquisition Companies (SPACs) ,
Startups ,
Technology Sector
On September 9, 2024, the Chief Accountant of the U.S. Securities and Exchange Commission (SEC), Paul Munter, delivered remarks describing circumstances in which, in the SEC staff’s view, entities may engage in cryptoasset...more
Securities litigation arising from the purchase or sale of digital products such as cryptocurrencies, nonfungible tokens (NFTs) and security tokens has proliferated in recent years. A gating question in these cases is whether...more
Spotlight -
Macquarie Ruling Raises the Bar for Securities Fraud Claims -
Key Points -
- On April 12, 2024, the U.S. Supreme Court unanimously reversed and vacated the Second Circuit’s decision in Macquarie...more
5/23/2024
/ Acquisitions ,
Commercial Litigation ,
Cryptocurrency ,
Entertainment Industry ,
Financial Institutions ,
Healthcare ,
Life Sciences ,
Macquarie Infrastructure Corp v Moab Partners LP ,
Media ,
Mergers ,
Publicly-Traded Companies ,
Real Estate Market ,
Retail Market ,
SCOTUS ,
Securities and Exchange Commission (SEC) ,
Securities Litigation ,
Securities Regulation
SEC Wins Summary Judgment on Howey Issue in Terraform Litigation -
On December 28, 2023, Judge Jed Rakoff in the Southern District of New York issued a summary judgment decision in SEC v. Terraform Labs Pte. Ltd., a...more
The U.S. Supreme Court will likely decide before the end of its current term whether the failure to make a disclosure pursuant to Item 303 of Regulation S-K can serve as the basis for a securities fraud claim under Section...more
12/5/2023
/ Acquisitions ,
Cannabis-Related Businesses (CRBs) ,
Cryptocurrency ,
Data Security ,
Dismissals ,
Food and Drug Administration (FDA) ,
Healthcare ,
Initial Public Offering (IPO) ,
Intellectual Property Protection ,
Life Sciences ,
Marijuana Related Businesses ,
Mergers ,
Putative Class Actions ,
Regulation S-K ,
Scams ,
Scienter ,
Securities and Exchange Commission (SEC) ,
Securities Exchange Act ,
Securities Fraud ,
Securities Litigation ,
Shareholders ,
Token Sales
Two Sides of the Same Coin: Analyzing the Recent Ripple and Terraform Decisions -
Key Points -
- In July 2023, Judges Torres and Rakoff in the Southern District of New York issued rulings on whether digital asset sales...more
9/15/2023
/ Acquisitions ,
Enforcement Actions ,
Entertainment Industry ,
Financial Institutions ,
Healthcare ,
Life Sciences ,
Media ,
Mergers ,
Securities and Exchange Commission (SEC) ,
Securities Litigation ,
Technology Sector
A bipartisan bill introduced in the U.S. Senate last week seeks “to bring crypto assets within the regulatory perimeter” by granting oversight responsibility to the Commodity Futures Trading Commission (CFTC) for most forms...more
7/21/2023
/ Bitcoin ,
Blockchain ,
CFTC ,
Crypto Exchanges ,
Cryptoassets ,
Cryptocurrency ,
Digital Assets ,
Enforcement Actions ,
Jurisdiction ,
Regulatory Oversight ,
Regulatory Reform ,
Securities and Exchange Commission (SEC) ,
Securities Regulation ,
Token Sales
On July 13, 2023, Judge Torres of the U.S. District Court for the Southern District of New York issued a much-awaited summary judgment decision in SEC v. Ripple Labs, Inc., No. 1:20-cv-10832-AT-SN (S.D.N.Y. July 13, 2023),...more
7/18/2023
/ Cryptocurrency ,
Digital Assets ,
Enforcement Actions ,
Ripple ,
Securities Act of 1933 ,
Securities and Exchange Commission (SEC) ,
Securities Litigation ,
Securities Violations ,
Token Sales ,
Trading Platforms ,
Unregistered Securities
Supreme Court Hears Argument on Traceability Requirement in Circuit-Split Slack v. Pirani -
Key Points -
- Before the end of June, the U.S. Supreme Court is expected to issue a decision in a high-profile securities case...more
6/1/2023
/ Acquisitions ,
Appeals ,
Biopharmaceutical ,
Class Action ,
Corporate Governance ,
Corporate Misconduct ,
Corporate Officers ,
Cryptocurrency ,
Dismissals ,
Healthcare ,
Initial Public Offering (IPO) ,
Insurance Claims ,
Life Sciences ,
Mergers ,
Misleading Statements ,
Non-Fungible Tokens (NFTs) ,
NYSE ,
Oral Argument ,
Pharmaceutical Industry ,
Popular ,
SCOTUS ,
Section 11 ,
Section 12 ,
Securities ,
Securities and Exchange Commission (SEC) ,
Securities Exchange Act ,
Securities Litigation ,
Securities Violations ,
Slack Technologies Inc v Pirani ,
Special Purpose Acquisition Companies (SPACs) ,
Stock Exchange
Circuits Split Over Whether Targeting Is Necessary for Seller Liability -
Key Points -
- While courts have long held that solicitations must be tailored to a particular audience to precipitate statutory seller liability,...more
3/16/2023
/ Acquisitions ,
Bitcoin ,
Business Model ,
Cannabis Products ,
Class Action ,
Cryptocurrency ,
Cybersecurity ,
Department of Labor (DOL) ,
Disclosure ,
Dismissals ,
Entertainment Industry ,
Failure To Disclose ,
FinTech ,
Gambling ,
Healthcare ,
Investigations ,
Investors ,
Life Sciences ,
Media ,
Mergers ,
Online Platforms ,
Popular ,
Section 12 ,
Securities Act of 1933 ,
Securities and Exchange Commission (SEC) ,
Securities Litigation ,
Sellers ,
Social Media ,
Special Purpose Acquisition Companies (SPACs) ,
Telecommunications ,
Unregistered Securities ,
Whistleblower Protection Policies ,
Whistleblowers
On March 9, 2023, the New York State Attorney General’s Office (NYAG) filed a lawsuit charging crypto trading platform KuCoin for “failing to register as a securities and commodities broker-dealer and falsely representing...more
3/14/2023
/ Blockchain ,
Broker-Dealer ,
Commodities ,
Crypto Exchanges ,
Decentralized Finance (DeFi) ,
Digital Assets ,
Ethereum ,
Investment Adviser ,
New York ,
Non-Fungible Tokens (NFTs) ,
Popular ,
Securities ,
Securities and Exchange Commission (SEC) ,
State Attorneys General ,
Trading Platforms ,
Unregistered Brokers ,
White Collar Crimes
On February 22, 2023, Judge Victor Marrero of the U.S. District Court for the Southern District of New York issued an order in Friel v. Dapper Labs, Inc., denying Dapper Labs and its CEO’s motion to dismiss a putative...more
On February 7, 2023, Ishan Wahi (Ishan), a former Coinbase product manager, pled guilty to wire fraud charges in an indictment in the U.S. District Court for the Southern District of New York (SDNY)....more
Increased regulatory oversight and recent turmoil in the digital asset market have led to a rising number of securities litigations focusing on cryptocurrencies. Sixteen cryptocurrency-related class actions have been filed...more
The pandemic’s impact may be subsiding, but businesses are encountering new challenges across the globe, including the potential for an economic retrenchment, rising interest rates, shifting regulatory and litigation...more
12/14/2022
/ Acquisitions ,
Anti-Corruption ,
Antitrust Division ,
Banking Sector ,
Big Tech ,
Board of Directors ,
Bonds ,
Borrowers ,
Capital Markets ,
Capital Raising ,
China ,
Climate Change ,
Convertible Notes ,
Corporate Counsel ,
Corporate Governance ,
Corporate Restructuring ,
Creditors ,
Cross-Border ,
Cryptocurrency ,
Digital Assets ,
Due Diligence ,
Economic Sanctions ,
Enforcement ,
Environmental Social & Governance (ESG) ,
EU ,
Executive Compensation ,
Financial Services Industry ,
Forum Selection ,
Investigations ,
IRS ,
Lenders ,
Mergers ,
Money Laundering ,
Partnerships ,
Publicly-Traded Companies ,
Recessions ,
Repurchases ,
Russia ,
Securities ,
Securities and Exchange Commission (SEC) ,
Securities Litigation ,
Shareholders ,
Special Purpose Acquisition Companies (SPACs) ,
Taxation ,
Technology ,
UK ,
Vertical Mergers