In the ever-evolving world of digital assets and law, Grayscale Investments, LLC (Grayscale) found itself at the pinnacle of a major decision by the Court of Appeals for the District of Columbia. On August 29, the court...more
9/8/2023
/ Administrative Procedure Act ,
Arbitrary and Capricious ,
Bitcoin ,
Consumer Financial Products ,
Digital Assets ,
ETFs ,
Exchange-Traded Products ,
FinTech ,
Futures ,
Popular ,
Securities and Exchange Commission (SEC) ,
Securities Regulation
To help you keep abreast of relevant activities, below find a breakdown of some of the biggest events at the federal and state levels to impact the Consumer Finance Services industry this past week...more
9/6/2023
/ Bitcoin ,
Blockchain ,
Consumer Financial Products ,
Consumer Financial Protection Bureau (CFPB) ,
Decentralized Finance (DeFi) ,
Digital Assets ,
Dodd-Frank ,
FDIC ,
Federal Trade Commission (FTC) ,
Financial Institutions ,
Financial Regulatory Reform ,
Financial Services Industry ,
Putative Class Actions ,
Regulatory Agenda ,
Securities and Exchange Commission (SEC) ,
Suspicious Activity Reports (SARs)
On August 11, in the case of Yuille v. Uphold HQ Inc., the Southern District of New York was tasked with determining whether the Electronic Funds Transfer Act (EFTA) applies to digital asset-based accounts. The court...more
In this episode of The Crypto Exchange, Troutman Pepper Partner Ethan Ostroff welcomes his colleagues Kim Phan and Addison Morgan to discuss the recent enforcement actions brought by the Federal Trade Commission (FTC) against...more
8/18/2023
/ CFTC ,
Cryptoassets ,
Cryptocurrency ,
Department of Justice (DOJ) ,
Digital Assets ,
Enforcement Actions ,
Federal Trade Commission (FTC) ,
FTC Act ,
Gramm-Leach-Blilely Act ,
Securities and Exchange Commission (SEC) ,
Securities Fraud
Deceptive advertisements, market manipulation, misappropriation of customer funds, and “Ask Me Anything (AMA)” sessions served as the catalysts of a civil enforcement action the Federal Trade Commission (FTC) recently filed...more
7/18/2023
/ Civil Monetary Penalty ,
Consumer Protection Act ,
Cryptocurrency ,
Digital Assets ,
Dodd-Frank ,
Enforcement Actions ,
FDCPA ,
Federal Trade Commission (FTC) ,
Financial Services Industry ,
FTC Act ,
Gramm-Leach-Blilely Act ,
Regulatory Agencies ,
Unfair or Deceptive Trade Practices
On February 22, New York Attorney General Letitia James filed an enforcement action against digital asset exchange, CoinEx, for failing to register as a securities and commodities broker-dealer and for falsely representing...more
In the third segment of our four-part Crypto Year in Review series, Ethan Ostroff, Keith Barnett, and Addison Morgan discuss state-level regulation of interest-bearing cryptocurrency deposit products. Our speakers explain...more
On February 14, the U.S. Senate Committee on Banking, Housing, and Urban Affairs (Committee) conducted an open session hearing entitled “Crypto Crash: Why Financial System Safeguards are Needed for Digital Assets.”...more
To help you keep abreast of relevant activities, below find a breakdown of some of the biggest events at the federal and state levels to impact the Consumer Finance Services industry this past week...more
On June 6, Senators Kirsten Gillibrand (D-NY), member of the Senate Agriculture Committee, and Senator Cynthia Lummis (R-WY), member of the Senate Banking Committee, introduced a draft bipartisan bill, the Responsible...more
On May 4, following in the footsteps of President Biden’s recent executive order (Federal EO), California Governor Gavin Newsom issued his own blockchain-related executive order (CA EO), making California the first among the...more
On March 31, Idaho Governor Brad Little signed HB 583, the Digital Asset Act. The bill amends Title 28 of the Idaho Code, which governs commercial transactions generally, to include a new chapter dedicated to regulation of...more
On April 7, in front of American University’s Kogod School of Business Center for Innovation, Secretary of the Treasury Janet Yellen addressed the Biden administration’s forthcoming legislative approach to digital assets, as...more