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 Staff noted that a stablecoin generally is not subject to SEC jurisdiction if it is not an investment and used solely for commercial activity....more
4/25/2025
/ Digital Assets ,
FinTech ,
Howey ,
Popular ,
Regulatory Oversight ,
Regulatory Requirements ,
Reves Test ,
Securities Act of 1933 ,
Securities and Exchange Commission (SEC) ,
Securities Exchange Act ,
Securities Regulation ,
Stablecoins
An executive order and related legislation centralizes Bitcoin and digital asset holdings across the federal government to optimize oversight and management of crypto as a US reserve asset.
On March 6, 2025, President...more
Stablecoin regulation is a top priority for lawmakers, and three recent proposals reflect differing perspectives on how to achieve regulatory clarity while balancing safety and innovation....more
Commissioner Hester Peirce outlined 10 priorities for the Crypto Task Force, aiming for regulatory clarity while promoting innovation in digital asset markets....more
2/11/2025
/ Blockchain ,
Broker-Dealer ,
Cryptocurrency ,
Digital Assets ,
Enforcement Priorities ,
Exchange-Traded Products ,
FinTech ,
Investment Adviser ,
Popular ,
Regulatory Agenda ,
Securities and Exchange Commission (SEC) ,
Securities Regulation
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
1/28/2025
/ Blockchain ,
CFTC ,
Cryptocurrency ,
Digital Assets ,
Executive Orders ,
Federal Reserve ,
Financial Regulatory Reform ,
FinTech ,
Popular ,
Securities and Exchange Commission (SEC) ,
Stablecoins ,
Trump Administration
With appropriate safeguards, distributed ledger technology may expand the use of non-cash assets as derivatives collateral, while mitigating certain market infrastructure inefficiencies....more
12/13/2024
/ Blockchain ,
Books & Records ,
CFTC ,
Collateral ,
Commodity Exchange Act (CEA) ,
Compliance ,
Derivatives ,
Digital Assets ,
Distributed Ledger Technology (DLT) ,
Information Reports ,
Tokenization
FIT21 would provide regulatory certainty for the US digital asset ecosystem, balancing support for innovation with consumer protection....more
5/30/2024
/ Blockchain ,
CFTC ,
Commodities ,
Consumer Protection Laws ,
Cryptocurrency ,
Decentralized Finance (DeFi) ,
Digital Assets ,
FinTech ,
Investment Contract ,
Non-Fungible Tokens (NFTs) ,
Pending Legislation ,
Rulemaking Process ,
Securities ,
Securities and Exchange Commission (SEC) ,
Stablecoins
The bipartisan bill seeks to foster innovation and promote US dollar dominance while protecting consumers and mitigating illicit finance risks.
On April 17, 2024, US Senators Cynthia Lummis from the Senate Banking...more
Understanding NFTs as commodities calls for a more nuanced analysis than what their “non-fungible” label might suggest at first glance.
The appropriate regulatory characterization of cryptocurrencies and digital assets...more
The proposed bill sets forth a comprehensive framework for the digital asset ecosystem by bridging regulatory gaps, promoting innovation, and protecting consumers.
On June 2, 2023, Patrick McHenry, Chairman of the House...more
6/30/2023
/ Advisory Committee ,
Anti-Fraud Provisions ,
Anti-Manipulation Rule ,
CFTC ,
Commodity Exchange Act (CEA) ,
Consumer Protection Laws ,
Cryptoassets ,
Cryptocurrency ,
Decentralized Finance (DeFi) ,
Digital Assets ,
Disclosure Requirements ,
Environmental Social & Governance (ESG) ,
Investment Contract ,
Non-Fungible Tokens (NFTs) ,
Proposed Legislation ,
Registration Requirement ,
Regulatory Authority ,
Securities and Exchange Commission (SEC) ,
Stablecoins
The CRPTO Act is intended to increase transparency and consumer protections, and reduce conflicts of interest, through heightened disclosures and penalties.
On May 5, 2023, New York Attorney General (NYAG) Letitia James...more
By authorizing the issuance of a stable token, “Blockchain Valley” leads the way in state digital asset adoption and integration.
For the last few years, Wyoming has been a leader among US states at the intersection of...more
The Definitions aim to support the safe and efficient development of the digital asset derivatives market through consistent contractual standards.
On January 26, 2023, the International Swaps and Derivatives...more
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 comprehensive framework, which spans multiple reports, aims to spur risk mitigation efforts and potentially a US central bank digital currency.
On September 16, 2022, the White House published a fact sheet described...more
9/30/2022
/ Bank Secrecy Act ,
Biden Administration ,
Central Bank Digital Currency (CBDCs) ,
Cryptocurrency ,
Digital Assets ,
Executive Orders ,
Financial Regulatory Agencies ,
Financial Services Industry ,
Financial Stability Board ,
Financial Transactions ,
FSOC ,
OECD
Ethereum’s transition to proof of stake presents opportunities and pitfalls for certain digital assets and tokens built on the network.
After years of development, the Ethereum blockchain appears poised to make its...more
The latest bipartisan crypto bill would give the CFTC new tools and authorities to regulate digital commodities, with a focus on market integrity and consumer protection.
On August 3, 2022, a bipartisan group of US...more
The CFTC would take center stage in the regulation of spot digital asset markets under Title IV of the RFIA.
Latham & Watkins presents a blog series on the Responsible Financial Innovation Act, which was introduced in...more
On March 9, 2022, President Biden issued an Executive Order on Ensuring Responsible Development of Digital Assets (Order). In the face of rapid advancement in blockchain technology and its applications, the Order asserts that...more
Popular and institutional interest in digital assets, decentralized applications, NFTs, and blockchain technology skyrocketed, and regulators sprinted to catch up.
For the digital asset markets, 2021 was a banner year....more
1/25/2022
/ Bitcoin ,
Blockchain ,
Capital Raising ,
Cryptoassets ,
Cryptocurrency ,
Decentralized Finance (DeFi) ,
Digital Assets ,
Enforcement ,
Entrepreneurs ,
Environmental Social & Governance (ESG) ,
Federal Reserve ,
Financial Regulatory Agencies ,
FinCEN ,
Non-Fungible Tokens (NFTs) ,
Regulatory Agenda ,
Securities and Exchange Commission (SEC) ,
Startups ,
Unicorns ,
Venture Capital
The report addresses the market risks and regulatory challenges presented by stablecoins and urges Congress to act quickly.
On November 1, 2021, the President’s Working Group on Financial Markets (PWG) in conjunction...more
11/11/2021
/ Biden Administration ,
CFTC ,
Digital Assets ,
Digital Currency ,
FDIC ,
Financial Markets ,
Financial Services Industry ,
FSB ,
FSOC ,
Information Reports ,
IOSCO ,
OCC ,
Prudential Standards ,
Regulatory Agenda ,
Regulatory Oversight ,
Risk Factors ,
Securities and Exchange Commission (SEC) ,
Stablecoins
An ambitious proposal could bring digital assets into the mainstream regulatory fold. During an eventful summer for the digital assets industry, it may have been easy to miss US Representative Don Beyer’s introduction of the...more
9/13/2021
/ Anti-Money Laundering ,
Bank Secrecy Act ,
Central Bank Digital Currency (CBDCs) ,
CFTC ,
Commodities ,
Cryptoassets ,
Digital Assets ,
Enforcement Authority ,
FDIC ,
Federal Reserve ,
Proposed Legislation ,
Regulatory Oversight ,
Reporting Requirements ,
Securities ,
Securities and Exchange Commission (SEC) ,
Stablecoins ,
U.S. Treasury
For market participants pivoting toward ESG and digital assets, weighing the issues at the crossroads of these two megatrends is critical.
The huge rise in popularity of Bitcoin - and the growing interest by mainstream...more
4/13/2021
/ AML/CFT ,
Blockchain ,
Climate Change ,
Corporate Governance ,
Cryptocurrency ,
Decentralized Finance (DeFi) ,
Digital Assets ,
Environmental Social & Governance (ESG) ,
Paris Agreement ,
Popular ,
Risk Management
Throughout 2020, cryptocurrencies experienced incremental progress towards the mainstream as institutional investors and financial institutions made positive statements about the nascent asset class, an increasing number of...more
1/29/2021
/ Anti-Money Laundering ,
Banking Sector ,
Blockchain ,
Cryptocurrency ,
Digital Assets ,
Financial Institutions ,
Financial Regulatory Reform ,
Financial Services Industry ,
FinTech ,
Initial Coin Offering (ICOs) ,
Investment Firms ,
Investors ,
Popular ,
Virtual Currency