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President Trump Issues Executive Order on Digital Assets

With its pro-crypto stance and urgent posture, the executive order promises to make the US the “crypto capital of the planet.” On January 23, 2025, President Trump issued a highly anticipated executive order on digital...more

CFTC Issues Staff Advisory on the Use of Artificial Intelligence in CFTC-Regulated Markets

As AI use proliferates, the advisory reminds CFTC-regulated entities of their existing obligations and the CFTC’s intention to monitor for ongoing risks. On December 5, 2024, the staff of the Commodity Futures Trading...more

What’s Next for DAOs in the Wake of the Ooki Decision?

The viability of DAO structures draws attention after a judge declares that a decentralized autonomous organization is a “person” under the law. On June 8, 2023, the US District Court for the Northern District of...more

Regulators Are Setting Sights on Crypto Market Manipulation

Multiple U.S. government agencies have pursued a stream of enforcement actions in the digital asset industry in recent years. In fiscal year 2022, 20% percent of the enforcement actions brought by the Commodity Futures...more

CFTC Issues Request for Information on Climate-Related Financial Risk

The agency will use the information to take further steps to address climate risks in the commodity derivatives markets. On June 2, 2022, the Commodity Futures Trading Commission (CFTC) issued a Request for Information...more

CFTC Takes Action With New Climate Risk Unit

The CFTC continues to demonstrate a commitment to using its regulatory mandate to combat climate change risks to the US financial system. On March 17, 2021, the Commodity Futures Trading Commission (CFTC) announced the...more

Insider Trading in Commodities Markets: An Evolving Enforcement Priority

The CFTC and the DOJ both now pursue enforcement actions against trading in commodities based on misappropriation of confidential information. Among the many changes resulting from the Dodd-Frank Wall Street Reform and...more

A CFTC Helping Hand: DSIO Offers to Review Digital Asset Products

Product innovation (including in pooled investment vehicles) is encouraged, but innovation must be consistent with the law. The US Commodity Futures Trading Commission’s (CFTC’s) Division of Swap Dealer and Intermediary...more

The CFTC Takes New Steps to Promote Innovation and ‘Explore the Unwritten Future’

The US derivatives regulator continues to foster FinTech adoption and leadership in US markets. The US Commodity Futures Trading Commission (CFTC) has affirmed its commitment to engaging the fast-moving financial...more

Financial Firms Beware: Dangers Lurk in the Cloud

US regulators are calling attention to financial firms’ obligations to protect against evolving cybersecurity threats. On October 2, 2019, the Financial Industry Regulatory Authority (FINRA) issued an information notice to...more

Global Developments on Best Execution

Best execution is currently a hot topic for global regulators and the past year has seen notable regulatory focus in this area. Amid this development, firms are recommended to review their global best execution compliance...more

Are Your Employees Trading Bitcoin? Addressing Cryptocurrencies in Compliance Policies

How should broker-dealers, investment advisers, and other registered firms in the US, UK, and Hong Kong address cryptocurrencies in their compliance programs? Originally published on bloombergbna.com on April 16,...more

CFTC Proposes Interpretation of “Actual Delivery” for Virtual Currencies

The proposed interpretation would further clarify the CFTC’s jurisdiction over virtual currency platforms that facilitate retail commodity transactions. On December 15, 2017, the US Commodity Futures Trading Commission...more

CFTC Releases New Enforcement Cooperation Guidelines

The agency’s updated advisory for companies and first-ever guidance for individuals shed additional light on its approach for recognizing cooperation. On January 19, 2017, the Division of Enforcement (Division) of the...more

CFTC Proposes New Enforcement Authority and Other Amendments in Its Whistleblower Program

Mirroring existing SEC authority, the CFTC’s proposal would allow it to impose sanctions for retaliation against whistleblowers. On August 30, 2016, the US Commodity Futures Trading Commission (CFTC) published proposed...more

CFTC Brings Significant Enforcement Action Against Online Cryptocurrency Exchange

The action reflects the CFTC’s expanded jurisdiction and provides further clarity on what constitutes “actual delivery” in cryptocurrency trading. On June 2, 2016, the US Commodity Futures Trading Commission (CFTC)...more

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