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
On May 29, 2025, the SEC’s Division of Corporation Finance (Corp Fin) released a Statement on Certain Protocol Staking Activities clarifying that certain crypto asset staking activities on proof-of-stake (PoS) blockchain...more
Three months into the life of the U.S. Securities and Exchange Commission’s Crypto Task Force, the SEC staff has begun taking tangible steps to define its evolving approach to the regulation of digital assets. In a series of...more
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
The Division of Corporation Finance (Division) of the Securities and Exchange Commission (SEC) recently issued two statements regarding whether certain tokens, or arrangements involving tokens, constitute “investment...more
Of particular importance for the crypto industry, the opinion analyzes the SEC’s allegations that Binance and BAM offered and sold various tokens and programs to investors as investment contracts without registering them with...more
On November 20, the Securities and Exchange Commission (SEC) instituted a civil enforcement action against Kraken, a major U.S. cryptocurrency exchange. The SEC alleged Kraken operated as an unregistered broker, dealer,...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