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SEC “Project Crypto”

The America First Policy Institute is a think tank with enormous influence on the Trump Administration. Members of the Institute have joined the administration in senior positions. So, it was fitting for Securities and...more

Tornado Cash and the Legality of Mixers

On August 6, 2025, after a four-week trial in the Southern District of New York (S.D.N.Y.), the jury in the Tornado Cash case reached an impasse. While it found Roman Storm, the founder of a crypto mixing service known as...more

Banking and Digital Assets: Key Takeaways from the President’s Working Group Report

On July 30, 2025, the President’s Working Group on Digital Asset Markets (PWG) released “Strengthening American Leadership in Digital Financial Technology,” a comprehensive digital asset report (Report) mandated by President...more

Is the Future of Digital Assets in the United States Bright Again?

Yes, indeed! What Brad Garlinghouse of Ripple Labs called “Gensler’s reign of terror” ended with Securities and Exchange Commission (SEC) Chair Gary Gensler’s resignation upon President Donald Trump’s inauguration. Paul...more

Blockchain Tech's Role as Driver of M&A Action Evolves

The landscape of mergers and acquisitions is undergoing a seismic shift powered by the adoption of distributed ledger and other blockchain derivative technology across industries. Recent challenges in the cryptocurrency...more

What’s Next for Blockchain and Crypto?

While the story of the first ten months of 2022 was surviving crypto winter, there was also some optimism that better times were coming. There is a newly elected Congress and new leadership, which many had hoped would be...more

Top Trends in Digital Assets for 2022

It's no secret that cryptocurrency markets and the larger digital assets economy have been roiled by recent instability, resulting in discussions about how regulatory initiatives, rising inflationary pressure, and public...more

The Varying Federal, State And Local Attitudes On Crypto

The U.S. Securities and Exchange Commission is adding 20 positions to its Crypto Assets and Cyber Unit. These positions are all enforcement-related. None of the new staff will be charged with carrying out the SEC's...more

POTUS Issues Executive Order Directing Study of Digital Assets

On March 9, 2022, President Joe Biden signed the “Executive Order on Ensuring Responsible Development of Digital Assets” (the order), outlining his administration’s intention to begin a strategic review of potential...more

DeFi and the DAO: How the Law Needs to Change to Accommodate Decentralized Autonomous Organizations

As financial markets wrap up the year 2021 and launch into 2022 at warp speed, the “DeFi” world has a new star called the “DAO.” Decentralized finance, short-handed as “DeFi”, refers to peer-to-peer finance enabled by...more

FinCEN Announces Proposed Rule Aimed at Closing Anti-Money Laundering Regulatory Gaps for Certain Convertible Virtual Currency and...

On December 18, 2020, the Financial Crimes Enforcement Network (FinCEN) issued a notice of proposed rulemaking that would require banks and money service businesses (MSBs) “to submit reports, keep records, and verify the...more

What Recent Developments in the Fintech Space Mean for Our Future

The fintech industry has been changing rapidly. Digital assets, distributed ledger technology and central bank digital currencies are gaining momentum. Multi-trillion-dollar United States Federal Reserve System money creation...more

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