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
In April 2023, the SEC re-proposed amendments to Exchange Act Rule 3b-16 to expand the definition of what it means to be an exchange. When the SEC initially proposed these amendments in January 2022, there were zero direct...more
On July 13, 2023, the U.S. District Court for the Southern District of New York issued its highly anticipated summary judgment decision in the U.S. Securities and Exchange Commission’s (SEC) action against Ripple Labs, Inc....more
This year had already seen an uptick in federal enforcement activity focused on digital assets with the expansion of the SEC’s Crypto Assets and Cyber Unit (see our prior client alert on that expansion and its impact here)...more
SEC Commissioner Hester Peirce continues to be one of the most vocal persons in leadership positions at federal regulators who are promoting innovation in digital currency and the blockchain....more