The current SEC administration has expressed the view that most crypto assets are offered and sold as securities and has proposed several rules that address “digital asset securities” or “crypto asset securities.” In this...more
On April 14, 2023, the Securities and Exchange Commission (SEC) reopened the comment period on proposed amendments to Rule 3b-16 under the Securities Exchange Act of 1934 (the “Exchange Act”) (the “Amendments”). The...more
The Securities and Exchange Commission (“SEC” or “Commission”) has released a proposal to amend Exchange Act Rule 3b-16, Regulation ATS, and Regulation SCI. Criticized by SEC Commissioner Hester Peirce as “too wide-ranging”...more
The U.S. Securities and Exchange Commission (SEC) recently issued proposed amendments to the Securities Exchange Act (the “Exchange Act”) that would significantly broaden the definition of “exchange” for purposes of...more
The proposal would require certain systems and platforms currently not subject to any registration requirements to register as broker-dealers and ATSs. On January 26, 2022, the Securities and Exchange Commission (SEC)...more
The US Securities and Exchange Commission (SEC) has proposed a sweeping expansion in how it defines securities exchanges to capture digital asset platforms, request-for-quote platforms, indication-of-interest platforms (IOI),...more
On January 26, 2022, the US Securities and Exchange Commission (SEC) proposed a rule (Proposed Rule) amending - and significantly broadening - a rule that defines certain terms used in the statutory definition of “exchange.”...more
The Securities and Exchange Commission (SEC) proposed significant changes to the regulation of securities trading systems that use non-firm trading interest and alternative trading systems (ATSs) that trade government...more
SEC/CORPORATE - SEC Amends the Definition of “Smaller Reporting Company” - On June 28, the Securities and Exchange Commission announced that it adopted amendments to the definition of “smaller reporting company,” which...more
• Coinbase, one of the largest cryptocurrency exchanges, recently approached the U.S. Securities and Exchange Commission (SEC) about possible licensing as a broker-dealer. If Coinbase decides to register with the SEC, it will...more
On July 25, 2017, the Securities and Exchange Commission (“SEC”) released groundbreaking materials relating to blockchain tokens. These materials provide significant and welcome insight to the SEC’s and its staff’s thinking...more
Last week, SDNY Judge Jesse Furman issued a 51 page decision in In Re: Barclays Liquidity Cross and High Frequency Trading Litigation dismissing all of the cases consolidated under the MDL. In these cases, investor...more