The strong vote in the House for the CLARITY Act sends a clear message to the Senate that there is bipartisan momentum and support for digital asset market structure legislation. However, several obstacles remain. Given the...more
Key Points - In SEC v. Terraform, the court has granted summary judgment for the SEC on its claim that the defendants offered and sold unregistered securities in the form of “crypto assets.” This comes amidst the SEC...more
1/15/2024
/ Bitcoin ,
Cryptoassets ,
Cryptocurrency ,
Department of Justice (DOJ) ,
Howey ,
Ripple ,
Securities Act of 1933 ,
Securities and Exchange Commission (SEC) ,
Securities Tokens ,
Security-Based Swaps ,
Stablecoins ,
Summary Judgment
Key Point -
Just shy of three weeks after Judge Torres held that the digital asset XRP is not itself a security,1 Judge Rakoff held that the SEC had adequately pled that certain digital assets, such as the UST and LUNA...more
Key Points -
A judge in the Southern District of New York recently held that (i) the crypto asset XRP is not, on its own, a security and, (ii) as a result, the determination of whether an offer or sale of XRP required SEC...more
On Tuesday, February 7, the Division of Examinations of the U.S. Securities and Exchange Commission released its 2023 Examination Priorities. Private fund sponsors and managers should pay attention to the Priorities for two...more
Key Points -
The recent indictment and multiple regulatory enforcement actions brought against a crypto trader alleged to have committed market manipulation highlight the ongoing fractured oversight of the crypto markets...more
2/3/2023
/ CFTC ,
Corporate Counsel ,
Cryptocurrency ,
Decentralized Autonomous Organization (DAO) ,
Decentralized Finance (DeFi) ,
Department of Justice (DOJ) ,
Howey ,
Popular ,
Securities and Exchange Commission (SEC) ,
Swaps ,
Wire Fraud
On May 3, the Securities and Exchange Commission (SEC) announced that it was nearly doubling the size of the Enforcement Division’s Crypto Assets and Cyber Unit in order to pursue cases involving crypto asset offerings,...more
Key Points -
On October 6, 2021, the DOJ announced two new initiatives: the Civil Cyber-Fraud Initiative and the National Cryptocurrency Enforcement Team.
The Civil Cyber-Fraud Initiative will fight rising cyber threats...more
10/13/2021
/ Cryptocurrency ,
Cyber Incident Reporting ,
Cybersecurity ,
Cybersecurity Maturity Model Certification (CMMC) ,
Department of Defense (DOD) ,
Department of Justice (DOJ) ,
DFARS ,
False Claims Act (FCA) ,
Federal Acquisition Regulations (FAR) ,
Homeland Security Cybersecurity & Infrastructure Security Agency (CISA) ,
NDAA ,
Popular ,
Supply Chain