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Cryptocurrency Decentralized Finance (DeFi)

Alston & Bird

DOJ Refines Illicit Finance Enforcement Approach for DeFi

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Our White Collar, Government & Internal Investigations Group reviews several Department of Justice statements that together signal how it will enforce illicit finance risks in decentralized finance (DeFi), focusing on...more

Lowenstein Sandler LLP

Crypto Brief - Lowenstein Crypto Newsletter - September 4, 2025

On Sept. 2, the Securities and Exchange Commission’s (SEC) Division of Trading Markets and the Commodity Futures Trading Commission’s (CFTC) Division of Market Oversight and Division of Clearing and Risk issued a joint...more

Fenwick & West LLP

SEC Staff Statement: Certain Liquid Staking Activities and Staking Receipt Tokens Do Not Involve the Offer and Sale of Securities

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On August 5, 2025, the Securities and Exchange Commission Division of Corporation Finance released a statement on liquid staking as a follow-on to its May 29, 2025, protocol staking statement. The liquid staking statement...more

Venable LLP

Cryptocurrency Victory Amid a Shifting Political Environment: Lesser Charge Still Brings Important Ramifications for Decentralized...

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On Wednesday, August 6, a Southern District of New York jury found Roman Storm, the founder of Tornado Cash, guilty of conspiracy to operate an unlicensed money-transmitting business in violation of Section 371 of Title 18 of...more

K&L Gates LLP

The White House Working Group on Digital Asset Markets Report: What it Means for the Derivatives Industry

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The “Strengthening American Leadership in Digital Financial Technology” Report, published in July 2025 by the President’s Working Group on Digital Asset Markets (the PWG), includes comprehensive recommendations for immediate...more

Lowenstein Sandler LLP

Crypto Brief - Lowenstein Crypto Newsletter - August 28, 2025

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A coalition of 115 digital asset builders, investors, and advocates submitted a letter to the Senate Committee on Banking and the Committee on Agriculture on August 27, advocating for the protections afforded to open-source...more

Paul Hastings LLP

Wyoming Launches Stablecoin, SEC Chair Discusses Tokenization and Congress Eyes Market Structure Legislation

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There were significant crypto developments at both the state and federal levels. In Wyoming, the Frontier Stable Token (FRNT) officially launched on mainnet, making the state the first public entity in the United States to...more

Ballard Spahr LLP

Tornado Cash Jury Deadlocked on Most Serious Charges, but Convicted Founder Roman Storm on Conspiracy to Operate an Unlicensed...

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On August 6th, 2025, following a four-week trial, a jury found Roman Storm, the founder of a crypto mixing service called Tornado Cash, guilty of conspiracy to operate an unlicensed money transmitting business. The jury was...more

Davis Wright Tremaine LLP

CFTC Announces Latest Crypto Sprint Initiative

Just days after the closing of the comment period for the CFTC's first initiative under its Crypto Sprint, on August 21, 2025, the CFTC announced the beginning of its next Crypto Sprint initiative. The CFTC previously...more

Polsinelli

Blockchain+ Bi-Weekly—SEC Issues Guidance Regarding Liquid Staking Tokens and Trial of Privacy Technology Developer Ends in Mixed...

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Congress may be in its August recess, but the crypto legal developments have not slowed. The SEC’s Division of Corporation Finance released long-awaited guidance on Proof-of-Stake liquid staking tokens, clarifying when such...more

Thomas Fox - Compliance Evangelist

Regulatory Ramblings: Episode 76 - The Digital Future: The US GENIUS Act and Hong Kong Stablecoins Ordinance / The Hong Kong Web3...

The discussion begins with the Hong Kong Web3 Blueprint Report. Musheer and Sean tell Regulatory Ramblings host Ajay Shamdasani that the document should be viewed as a roadmap to accelerate blockchain development in the...more

BakerHostetler

Weekly Blockchain Blog - August 2025 #3

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US Stablecoin Issuers Announce Bank Charter Application, New L1 Network - Paxos, a blockchain infrastructure and tokenization platform and issuer of the USDP stablecoin, recently announced that it “has filed an application...more

Latham & Watkins LLP

SEC Staff Clarifies That Liquid Staking Activities Do Not Implicate US Federal Securities Laws

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The Staff provides the market with additional crypto clarity, holding that liquid staking does not qualify as a security under the Howey test....more

Hogan Lovells

US president’s working group issues report outlining key policy recommendations for digital assets regulation

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On July 30, 2025, the President's Working Group on Digital Asset Markets released its much anticipated report setting out recommendations concerning the regulation of digital assets in the United States....more

Mayer Brown

The Tornado Cash Trial’s Mixed Verdict: Implications for Developer Liability

Mayer Brown on

On August 6, 2025, following a four-week trial, a jury in the Southern District of New York delivered a mixed verdict in the criminal case against Tornado Cash co-founder Roman Storm. The jury convicted Storm of conspiring to...more

Perkins Coie

SEC Statement on Liquid Staking: Helpful Guidance, With a Caveat

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Key Takeaways - - In a recently published statement, the Division of Corporation Finance clarified that certain standard liquid staking activities involving crypto assets—including the issuance and redemption of Staking...more

Sheppard Mullin Richter & Hampton LLP

President’s Working Group Report Lays Foundation for U.S. Crypto Market Structure

On July 30, 2025, the President’s Working Group on Digital Asset Markets released a comprehensive report recommending substantial regulatory action and legislative proposals aimed at providing clearer pathways for crypto...more

A&O Shearman

SEC Chairman Atkins Announces “Project Crypto” – A New Era for Digital Asset Regulation in the United States

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On July 31, 2025, Securities and Exchange Commission (“SEC” or “Commission”) Chairman Paul S. Atkins delivered a landmark speech (the “Speech”) at the America First Policy Institute, announcing “Project Crypto,” a...more

Paul Hastings LLP

White House Issues Digital Asset Report, SEC Chair Declares Most Crypto Assets Are Not Securities and CFTC Advances Spot Market...

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Last week, the White House released a landmark report on digital financial technology, signaling a coordinated federal push to modernize crypto regulation. The report, issued by the President’s Working Group on Digital...more

Jones Day

SEC Clarifies Liquid Staking Activities Are Not Securities Transactions Under U.S. Law

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On August 5, 2025, the Division of Corporation Finance of the U.S. Securities and Exchange Commission ("SEC") issued a statement ("Statement") providing interpretive clarity on the application of federal securities laws to...more

Latham & Watkins LLP

SEC and CFTC Launch Crypto Initiatives to Revamp Regulations and Promote Innovation

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As the SEC unveils a strategic plan to modernize securities regulations and drive US leadership in blockchain integration within financial markets, the CFTC launches a corresponding “crypto sprint.”...more

Davis Wright Tremaine LLP

Presidential Working Group Report on Digital Assets – Key Focal Points

We noted last week in connection with our initial post regarding the Presidential Working Group Report on Digital Assets (the "PWG Report" or the "Report") that we would be engaged in further analysis of that Report and offer...more

Skadden, Arps, Slate, Meagher & Flom LLP

A Closer Look at the Trump Administration’s Comprehensive Report on Digital Assets

- What is new: The Trump administration’s Working Group on Digital Asset Markets released a comprehensive report outlining some 100 policy and legislative recommendations to position the U.S. as a global leader in digital...more

Orrick, Herrington & Sutcliffe LLP

What Does the White House Digital Asset Roadmap Mean for Crypto and Blockchain Innovation?

The President’s Working Group on Digital Asset Markets on July 30 released Strengthening American Leadership in Digital Financial Technology. This report, issued under January's Executive Order 14178, outlines a sweeping set...more

Lowenstein Sandler LLP

Crypto Brief - Lowenstein Crypto Newsletter - August 7, 2025

On August 5, the Securities and Exchange Commission’s (SEC) Division of Corporation Finance (Division) issued a statement clarifying that liquid staking activities do not involve the offer and sale of securities within the...more

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