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SEC Issues Crypto Securities Disclosure Statement as IRS DeFi Broker Rule Repealed

The Securities and Exchange Commission (SEC) Division of Corporation Finance issued a new statement about SEC staff’s experience with SEC disclosure requirements for crypto-related offerings that qualify as securities. The...more

Will History Repeat Itself? Peering Into the Past to Predict the Next Four Years of CFTC Enforcement Actions

During every presidential transition, the futures industry looks for clues regarding what changes may be coming. History has shown that when administrations transition, far more stays the same than changes and that the...more

Crypto in the Courts: Five Cases Reshaping Digital Asset Regulation in 2025

There has rarely been a larger or more widely distributed financial market that existed in a more uncertain regulatory context than cryptocurrencies and decentralized finance (DeFi) at the start of 2025. In the past several...more

IRS Broker Rule for Digital Assets Faces Constitutional Challenge From Industry Leaders

Three digital asset organizations have jointly filed a lawsuit challenging the Internal Revenue Service’s (IRS) new digital asset broker reporting rule. The complaint, filed in the Northern District of Texas on December 27,...more

CFTC’s Uniswap Settlement Sparks Debate on DeFi Regulation

The Commodity Futures Trading Commission (CFTC) continues to expand its regulatory reach in the decentralized finance (DeFi) space, this time targeting Uniswap Labs, the developer behind a prominent decentralized exchange...more

US Court Holds DeFi Developer Cannot Be Held Liable for 3d Party Bad Actors; A Week Later, CFTC Suggests Contrary View Over One...

A developer and financial backers of a renowned decentralized finance protocol cannot be held liable to private litigants for the activities of unrelated bad actors that utilized the protocol to launch and offer for sale scam...more

Weathering the Crypto Winter: Tools for Insolvency Practitioners

Cryptoassets are particularly unique assets that are sources of deep and rapid innovation in global financial markets. Given the volatility of the crypto market, their value can dramatically rise and fall. Insolvency...more

Exercise of Governance Tokens Could Result in Personal Liability for Illegal Activities of DeFi Protocol

Two natural persons who voted governance tokens issued by a decentralized finance (DeFi) protocol were charged with being “personally liable” for alleged violations of the Commodity Exchange Act (CEA) and regulations of the...more

The State of Futures: Emerging Trends and Enforcement Priorities

The CFTC and the exchanges have plenty of activity in the futures space. During a Futures session at Katten's annual Financial Markets Litigation and Enforcement Symposium Series, Katten attorneys and guests discussed swap...more

Are Crypto Lending, DeFi and Stablecoins the New "Lions and Tigers and Bears, Oh My!"? A Review of Recent Crypto Legal and...

Developments continue at a frenetic pace in the crypto industry. Issues barely on the radar screen 18 months ago have come front and center in today’s headlines. Areas with relatively small market capitalizations a year ago...more

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