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Investment Contract Securities Act of 1933 Securities Exchange Act of 1934

Mayer Brown Free Writings + Perspectives

SEC Staff Guidance on Liquid Staking Activities

On August 5, 2025, the staff (the “Staff”) of the Division of Corporation Finance (the “Division”) issued new guidance regarding certain Protocol Staking (defined below) activities.  This guidance builds on a May 2025 Staff...more

Farella Braun + Martel LLP

Howey Test for Crypto Asset Transactions Analyzed in Recent Denial of Kraken's Motion to Dismiss in ND California

In a recent decision in SEC v. Payward, Inc. (d/b/a “Kraken”), Judge Orrick of the Northern District of California denied Kraken's motion to dismiss the SEC's suit against it. In its complaint, the SEC alleges that Kraken...more

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