The Staff clarifies that protocol staking does not qualify as a security under the Howey Test, clearing the way for market participants to engage in staking....more
6/16/2025
/ Blockchain ,
Crypto Exchanges ,
Cryptoassets ,
Digital Assets ,
Howey ,
Investment Contract ,
Market Participants ,
Regulatory Requirements ,
Securities Act of 1933 ,
Securities Exchange Act ,
Securities Regulation ,
Stablecoins ,
Unregistered Securities
The SEC’s dismissal of recent “unregistered dealer” enforcement actions cements a scaling back of the dealer definition and reflects a policy shift from the prior SEC....more
The Staff’s most recent actions continue to set the stage for notice-and-comment rulemaking long-awaited by the digital asset industry....more
FINRA’s guidance sheds further light on the new rule, which will permit firms to elect “non-branch” designation for a private residence where an associated person conducts specified supervisory activities....more
5/8/2024
/ Coronavirus/COVID-19 ,
Exemptions ,
Filing Deadlines ,
Financial Industry Regulatory Authority (FINRA) ,
New Guidance ,
New Rules ,
Primary Residence ,
Principal Place of Business ,
Relief Measures ,
Remote Working ,
Reporting Requirements ,
Required Forms ,
Securities and Exchange Commission (SEC) ,
Supervision
The new rule establishes criteria for firms to elect “non-branch” designation for a private residence where an associated person engages in specified supervisory activities....more
The narrower M&A broker exemption supersedes the 2014 M&A broker no-action letter while leaving state-level restrictions and foreign M&A broker relief unaffected. On March 29, 2023, the Securities Exchange Act of 1934...more
5/25/2023
/ Broker-Dealer ,
Consolidated Appropriations Act (CAA) ,
EBITDA ,
Exemptions ,
Extraterritoriality Rules ,
Foreign Agents ,
Institutional Investors ,
M&A Brokers ,
No-Action Letters ,
Registration Requirement ,
Securities and Exchange Commission (SEC) ,
Securities Exchange Act
The Guidance clarifies the regulator’s expectations on safekeeping customer digital assets, and the disclosures that must accompany such arrangements.
On January 23, 2023, the New York Department of Financial Services...more
2/3/2023
/ Banks ,
BitLicense ,
Cryptoassets ,
Custodians ,
Digital Assets ,
Disclosure Requirements ,
Financial Services Industry ,
Insolvency ,
New Guidance ,
NYDFS ,
Virtual Currency
The plan directs the agency to develop a robust regulatory framework to prevent market misconduct, as SEC officials’ public comments keep advancements in technology high on the agenda.
On August 25, 2022, the Securities...more
9/16/2022
/ CFTC ,
Digital Assets ,
Disclosure Requirements ,
Enforcement ,
Howey ,
Popular ,
Retail Investors ,
Reves Test ,
Securities and Exchange Commission (SEC) ,
Strategic Planning ,
Technology Sector