After many iterations over the years attempting to regulate the cryptocurrency space, the House of Representatives passed the Financial Innovation and Technology for the 21st Century Act, or FIT21 Act, on May 22, 20241. The...more
6/4/2024
/ Blockchain ,
CFTC ,
Commodities ,
Cryptocurrency ,
Digital Assets ,
Financial Regulatory Reform ,
Investment ,
Pending Legislation ,
Popular ,
Regulatory Agenda ,
Regulatory Authority ,
Securities and Exchange Commission (SEC) ,
Securities Regulation
The crypto industry secured a key victory in its court battles with the Securities and Exchange Commission (SEC or Commission) on Thursday, July 13, when Judge Analisa Torres of the U.S. District Court for the Southern...more
Sens. Cynthia Lummis (R. Wyo.) and Kristen Gillibrand (D. N.Y.) have reintroduced their landmark bipartisan crypto bill known as the Lummis-Gillibrand Responsible Financial Innovation Act (“Lummis-Gillibrand Act” or “LG...more
7/18/2023
/ Blockchain ,
CFTC ,
Commodity Exchange Act (CEA) ,
Cryptocurrency ,
Digital Assets ,
Financial Institutions ,
Financial Regulatory Reform ,
Financial Services Industry ,
FinTech ,
Investment ,
Popular ,
Proposed Legislation ,
Regulatory Agenda ,
Securities and Exchange Commission (SEC)
Payward Ventures, Inc., d/b/a Kraken, the cryptocurrency exchange, has entered into a $30 million settlement agreement with the U.S. Securities and Exchange Commission (SEC) over allegations the company failed to register its...more
Following the recent filing of the SEC’s insider trading complaint against a former manager of Coinbase Global, Inc. (“Coinbase”), the SEC is now investigating Coinbase. As stated in Coinbase’s Form 10-Q quarterly report...more
In the long running question of whether cryptocurrency tokens are securities, the Securities and Exchange Commission (the “SEC”) has volleyed new claims against a former employee of Coinbase Global, Inc. (“Coinbase”),...more
The cryptocurrency and blockchain industry has developed over the past decade with a large and increasingly glaring void: What regulations ultimately will apply and who will regulate the space? Much regulatory focus to date...more
3/4/2022
/ Alternative Trading System (ATS) ,
Blockchain ,
Crypto Exchanges ,
Cryptoassets ,
Cryptocurrency ,
Financial Fraud ,
FinTech ,
Howey ,
Investment Contract ,
Money Laundering ,
Popular ,
Regulatory Agenda ,
Securities and Exchange Commission (SEC) ,
Virtual Currency
The Infrastructure Investment and Jobs Act (the Act), H.R. 3684, commonly referred to as the infrastructure bill, was signed into law by President Biden on November 15, 2021. ...more
1/26/2022
/ Anti-Money Laundering ,
Biden Administration ,
Bitcoin ,
Blockchain ,
Brokers ,
Cryptoassets ,
Cryptocurrency ,
Digital Currency ,
Disclosure Requirements ,
Financial Instruments ,
Financial Services Industry ,
Financial Transactions ,
Infrastructure Investment and Jobs Act (IIJA) ,
Investment Opportunities
When Michael Hsu became acting U.S. Comptroller of the Currency earlier this month, banking industry experts predicted a shift away from the aggressive innovation pushed by fintech-friendly Brian Brooks, who resigned as the...more
It’s already been an epic year for blockchain, and it’s only March. As blockchain technology and digital currency companies are dominating today’s headlines, and more traditional companies get involved, what’s next for this...more
3/17/2021
/ Blockchain ,
Capital Raising ,
Continuing Legal Education ,
Cryptocurrency ,
Decentralized Finance (DeFi) ,
Digital Currency ,
Entertainment Industry ,
Financial Institutions ,
Financial Regulatory Agencies ,
Financial Services Industry ,
Financial Transactions ,
Investment Management ,
Investors ,
Non-Fungible Tokens (NFTs) ,
Popular ,
Startups ,
Tangible Property ,
Tokenization ,
Webinars
As we prepare to put 2020 in the rearview mirror, many of us will not have fond memories of the year. Quarantines, masks, social distancing, unspeakable tragedy, economic ruin for some industries. But the fintech world proved...more
1/7/2021
/ Banking Sector ,
Blockchain ,
Cryptocurrency ,
FDIC ,
Financial Institutions ,
Financial Services Industry ,
FinTech ,
Lenders ,
Madden v Midland Funding ,
Popular ,
Securities and Exchange Commission (SEC) ,
Securitization
Following ongoing efforts to promote the expansiveness of the national bank charter, on July 22, 2020, the Office of the Comptroller of the Currency (OCC) issued an interpretive letter confirming the authority of a national...more
8/6/2020
/ Banking Regulators ,
Banking Sector ,
Cryptocurrency ,
Digital Currency ,
Financial Markets ,
Financial Regulatory Reform ,
FinTech ,
Internal Controls ,
Interpretive Letters ,
National Bank Charters ,
OCC
Bank transaction activity has picked up as small and midsize banks look to adjust their business models to the digital economy. Some fintech companies have chosen to acquire or form their own banks. The clash between the new...more
2/24/2020
/ Acquisitions ,
Banking Sector ,
Blockchain ,
Continuing Legal Education ,
Cryptocurrency ,
Financial Services Industry ,
FinTech ,
Fintech Charter ,
Investment Funds ,
Investors ,
Lenders ,
Libor ,
Mergers ,
Online Marketplace Lending ,
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Syndicated Loans ,
Tax Credits ,
Webinars
Taking a break after eight brisk years of regulatory and litigious turbulence, the world of fintech and marketplace lending in 2019 was notable for being more business as usual, or what some might call a “ho hum” year of...more
In a White House news conference Monday, July 15, Treasury Secretary Steven Mnuchin expressed serious concerns about cryptocurrency and digital investments and raised national security implications of large technology...more
Is virtual currency “money” for purposes of the Pennsylvania Money Transmitter Act?
Not according to recently issued guidance from the Pennsylvania Department of Banking and Securities (DoBS), which has joined a growing...more
State regulators are keeping a close eye on cryptocurrency and digital lending activities, with a cease and desist order involving bitcoin and a new law targeting online lenders....more
A key regulator has announced a cryptocurrency crackdown in conjunction with Canadian as well as U.S. federal and state regulators. Also, the CFTC has released new guidance for clearinghouses and exchanges, while a key state...more
Already the target of state and federal regulators, cryptocurrency is now being phased out of online advertising and social media. With three tech giants banning ads, the industry is facing increased hurdles to sustain...more
In cryptocurrency news, the Vermont legislature is considering a bill that would create a tax on digital currency transactions, while the Securities and Exchange Commission (SEC) released a statement on enforcement actions....more
Top Five 2017 Takeaways From Manatt’s Digital Finance and Marketplace Lending Team -
2017 was a banner year for digital finance, as cryptocurrency made headlines, the SEC cracked down on ICOs, alternative lenders broadened...more