News & Analysis as of

Cryptocurrency Decentralized Finance (DeFi) Biden Administration

Fenwick & West LLP

Rollback of DeFi Reporting Regs Advances Through Congress

Fenwick & West LLP on

On March 4, 2025, the U.S. Senate passed joint resolution S.J.Res.3, disapproving the DeFi broker reporting regulations Treasury finalized at the end of the Biden Administration. Senator Ted Cruz (R-TX) introduced the...more

Katten Muchin Rosenman LLP

Will History Repeat Itself? Peering Into the Past to Predict the Next Four Years of CFTC Enforcement Actions

During every presidential transition, the futures industry looks for clues regarding what changes may be coming. History has shown that when administrations transition, far more stays the same than changes and that the...more

Troutman Pepper Locke

IRS Finalizes New Rules for DeFi Brokers: Challenge Immediately Filed in Texas Federal Court

Troutman Pepper Locke on

The U.S. Department of the Treasury and the Internal Revenue Service (IRS) released final regulations that significantly impact the reporting requirements for brokers involved in digital asset transactions. The stated aim of...more

Bracewell LLP

An "Immutable" Force Meets an Immovable Object: OFAC's Crypto Loss at the Fifth Circuit

Bracewell LLP on

On November 26, 2024, the US Court of Appeals for the Fifth Circuit ruled that “immutable” smart contracts are not “property” for purposes of regulation by the US Department of the Treasury’s Office of Foreign Assets Control...more

BakerHostetler

Weekly Blockchain Blog - May 2024 #3

BakerHostetler on

Crypto Custody, Stablecoin Products Launch; El Salvador is Mining Bitcoin - According to a recent press release, Fireblocks has launched the Fireblocks Global Custodian Partner Program, a global network of licensed...more

ArentFox Schiff

Biden Administration Offers More Details on Emerging Crypto Regulatory Scheme

ArentFox Schiff on

The Biden Administration, after ordering a series of reports on the risks and potential benefits of cryptocurrency and digital assets in its March 9, 2022, Executive Order (EO), has now published the “Comprehensive Framework...more

Skadden, Arps, Slate, Meagher & Flom LLP

Treasury and Justice Department Reports Signal Tougher Enforcement and Regulation in the Digital Assets Sector

On September 16, 2022, the U.S. Department of the Treasury and Department of Justice released four much-anticipated reports on different aspects of cryptoasset regulation. They confirm the Biden administration’s broad but...more

Kilpatrick

Treasury Provides 30 Days for Comment on Digital Assets Development

Kilpatrick on

On July 8, 2022, the U.S. Department of the Treasury (Treasury) published a Request for Comment seeking public input on U.S. digital assets development. The Request for Comment was published pursuant to the Biden...more

Braumiller Law Group, PLLC

Hot Topics in International Trade - April 2022 - Executive Order on Digital Assets a Welcome Start to Responsible Regulation

The President issued an Executive Order on Ensuring Responsible Development of Digital Assets on March 9, 2022. The value of the cryptocurrency and digital assets sector exceeds $3 trillion and has the potential to grow much...more

Skadden, Arps, Slate, Meagher & Flom LLP

Federal Regulators Move To Regulate Stablecoins Through Banking Laws Plus New Legislation

The President’s Working Group on Financial Markets (PWG), together with the Federal Deposit Insurance Corporation (FDIC) and the Office of the Comptroller of the Currency (OCC), released a much-anticipated Report on...more

Mayer Brown Free Writings + Perspectives

US Financial Regulators Release Much-Anticipated Report on Stablecoins

On November 1, 2021, the President’s Working Group on Financial Markets (PWG) released its much-anticipated Report on Stablecoins (Report). The Federal Deposit Insurance Corporation (FDIC) and the Office of the Comptroller of...more

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