News & Analysis as of

Digital Assets Regulatory Requirements Financial Markets

Jones Day

Crypto Assets, CASPS, and AML/CFT Compliance: The New European Regulatory Landscape Under MiCA and AMLR

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The rise of crypto assets and decentralized finance has challenged traditional regulatory frameworks, particularly in the area of anti-money laundering and countering the financing of terrorism ("AML/CFT")....more

Jones Day

Stablecoins: Revolutionizing Global Finance?

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Following the recent focus on two major regulatory frameworks—the Guiding and Establishing National Innovation for U.S. Stablecoins Act (known as the GENIUS Act) in the United States, and Regulation (EU) 2023/1114 of the...more

Davis Wright Tremaine LLP

Senate Banking Committee Releases Crypto Market Structure Discussion Draft and Request for Information

Coming on the heels of the House's passage of the Digital Asset Market Clarity Act of 2025 ("Clarity Act") with strong bipartisan support, the Senate Banking Committee released its initial discussion draft for crypto market...more

Latham & Watkins LLP

The GENIUS Act of 2025 Stablecoin Legislation Adopted in the US

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On July 18, 2025, President Trump signed into law the Guiding and Establishing National Innovation for US Stablecoins Act (the GENIUS Act), legislation that establishes a regulatory framework for payment stablecoins. ...more

Lowenstein Sandler LLP

Crypto Brief - Lowenstein Crypto Newsletter - July 24, 2025

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On July 18, the GENIUS Act (the Act) was signed into law by President Donald Trump. According to a fact sheet released by the White House, the legislation aims to position the United States as a leader in the development of...more

Husch Blackwell LLP

CFTC Enforcement Division Issues Framework for DOJ Criminal Referrals

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On July 9, 2025, the Commodity Futures Trading Commission (CFTC) Division of Enforcement (DOE), acting pursuant to a recent executive order (EO), issued an advisory letter outlining its new policy for referring criminally...more

Lowenstein Sandler LLP

Crypto Brief - Lowenstein Crypto Newsletter - July 17, 2025

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On July 16, Commissioner Hester M. Peirce gave a speech at London’s Guildhall with other financial regulators and industry leaders. In her speech, Commissioner Peirce highlighted the historic ties between the U.S. and the...more

Katten Muchin Rosenman LLP

Financial Markets and Funds Quick Take | Issue 40

Katten's Financial Markets and Funds Quick Take is a monthly newsletter highlighting key noteworthy developments potentially affecting financial markets and funds....more

Barnea Jaffa Lande & Co.

US Stablecoin Market Hits Milestone: Regulation and IPO

The stablecoin market has reached a regulatory and business milestone. Two significant actions took place in the United States in recent weeks that signal progress toward the institutionalization of the stablecoin market: the...more

A&O Shearman

EC adopts Delegated Regulation under MiCAR on liquidity management for ARTs and EMTs

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The European Commission has adopted a Delegated Regulation supplementing Regulation (EU) 2023/1114 (Markets in Crypto Assets Regulation) (MiCAR), regarding regulatory technical standards (RTS) specifying the minimum contents...more

Carey Olsen

Power players: investment funds 2025 - distinguished advisers

Carey Olsen on

In today’s increasingly unpredictable global environment, the outlook for investment funds and their managers – particularly in the US – remains uncertain. Recent tariff measures introduced by the US government, along with...more

Katten Muchin Rosenman LLP

Confirming a Negative: CFTC Staff Issue an Advisory Clarifying When Foreign-Organized Entities Are Trading and Brokering Digital...

Derivatives market participants and exchanges can breathe a little easier now that Staff of the Market Participants Division and the Division of Market Oversight of the Commodity Futures Trading Commission (CFTC or...more

McDermott Will & Schulte

CFTC Staff Letter 25-14: What Is a “U.S. Person”?

On May 21, 2025, the Commodity Futures Trading Commission’s (CFTC) Market Participants Division and Division of Market Oversight jointly issued Staff Letter 25-14 in response to a request from SCB Limited, a Bahamas-based...more

Herbert Smith Freehills Kramer

Decoding Tokenisation: An introduction

In the rapidly expanding and evolving digital economy, tokenisation is primed to transform how we interact with assets. By creating digital representations of real-world assets on a distributed ledger, tokenisation promises...more

Morrison & Foerster LLP

CFTC Staff Issue Interpretive Guidance on Cross-Border Definitions

The CFTC staff have issued interpretative guidance regarding the application of cross-border definitions under the CFTC’s regulatory regimes covering swaps, foreign futures and foreign options transactions, and foreign boards...more

Eversheds Sutherland (US) LLP

The CFTC issues requests for comments on 24/7 trading and perpetual derivatives contracts

On April 21, 2025, the Commodity Futures Trading Commission (CFTC) Divisions of Market Oversight, Clearing and Risk, and Market Participants issued two Requests for Comment (RFCs) on 24/7 trading and clearing of derivatives...more

A&O Shearman

ESMA final guidelines on preventing and detecting market abuse under MiCAR

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The European Securities and Markets Authority (ESMA) has published its final report on the guidelines on supervisory practices for National Competent Authorities (NCAs) to prevent and detect market abuse under the Market in...more

Katten Muchin Rosenman LLP

Financial Markets and Funds Quick Take | Issue 37

Katten's Financial Markets and Funds Quick Take is a monthly newsletter highlighting key noteworthy developments potentially affecting financial markets and funds....more

ArentFox Schiff

SEC Commissioner Crenshaw Critiques Stable Coin Analysis: Understates the Risks

ArentFox Schiff on

On April 4, US Securities and Exchange Commission (SEC) Commissioner Caroline A. Crenshaw, the sole Democrat serving as a Commissioner, issued a statement critiquing the Division of Corporation Finance’s analysis in its...more

Morrison & Foerster LLP

U.S. SEC Issues Statement on Stablecoins

On April 4, 2025, the staff of the U.S. Securities and Exchange Commission (SEC or “Commission”) Division of Corporation Finance (“Staff”) issued a statement on stablecoins (the “Stablecoin Statement”), outlining the Staff’s...more

A&O Shearman

Heightened Surveillance And Regulatory Requirements For Virtual Currency Derivatives Exchanges Withdrawn

A&O Shearman on

On March 28, 2025, the Commodity Futures Trading Commission (“CFTC”) Division of Market Oversight (“DMO”) and Division of Clearing and Risk (“DCR”) withdrew Staff Advisory No. 18-14, Advisory with respect to Virtual Currency...more

Cadwalader, Wickersham & Taft LLP

New Regulatory Priorities Spring Into Focus, April 2025 - Business As Usual for Digital Asset Derivatives – CFTC Advisories...

Friday, March 27, 2025, the US Commodity Futures Trading Commission (CFTC) formally withdrew two crypto-related staff advisories, Staff Advisory No. 18-14 (advisory with respect to virtual currency derivative product...more

Katten Muchin Rosenman LLP

CFTC Withdraws Pair of Advisories on Heightened Review Approach to Digital Asset Derivatives

On March 28, the staff of the Commodity Futures Trading Commission (CFTC) issued two press releases announcing the withdrawal of two previous advisories that reflected the agency's heightened review approach to digital asset...more

Morrison & Foerster LLP

CFTC Staff Withdraws Advisory on Virtual Currency Derivative Product Listings

On March 28, 2025, the U.S. Commodity Futures Trading Commission’s (CFTC) Division of Market Oversight (DMO) and Division of Clearing and Risk (DCR) announced in CFTC Letter 25-07 that they are withdrawing CFTC Staff Advisory...more

Latham & Watkins LLP

UK Government Confirms Staking Services Are Not Collective Investment Schemes

Latham & Watkins LLP on

A recent statutory instrument aims to remove legal uncertainty surrounding crypto staking and ease blockchain operations. On 9 January 2025, the UK Government published the Financial Services and Markets Act 2000...more

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