On January 23, President Trump issued an EO, “Strengthening American Leadership in Digital Financial Technology.” The same day, the SEC published SAB 122 which rescinded the earlier staff interpretive guidance, SAB 121....more
A shrinking legislative calendar and the fallout from November’s election results – no matter which party gains the upper hand in the battle for control of Congress – are likely to doom lawmakers’ efforts to pass...more
9/30/2024
/ Anti-Money Laundering ,
Bank Secrecy Act ,
Biden Administration ,
Bitcoin ,
Central Bank Digital Currency (CBDCs) ,
CFTC ,
Cryptocurrency ,
Digital Assets ,
Donald Trump ,
Financial Services Industry ,
Kamala Harris ,
Know Your Customers ,
Legislative Agendas ,
Proposed Legislation ,
Securities and Exchange Commission (SEC)
Yesterday, the House passed H.R. 4763, the Financial Innovation and Technology for the 21st Century (FIT21) Act, by a vote of 279-136, including 71 votes from Democrats. The bill passed despite opposition from the White House...more
Background and Scope -
The Assessment was drafted by Treasury’s Office of Terrorist Financing and Financial Crimes (“TFFC”), in consultation with multiple U.S. agencies, including the Departments of Homeland Security,...more
Takeaways -
..U.S. Securities and Exchange Commission (SEC, or Commission) Chair Gary Gensler reaffirmed his view that the “vast majority” of cryptocurrency tokens are securities, and recent agency enforcement actions...more
The push on environmental, social, and governance (“ESG”) disclosures has increased in the past several years, with these disclosures becoming a particular focus of the Biden Administration, the Securities and Exchange...more
House Financial Services Committee Chairwoman Maxine Waters is calling on Congress to increase funding for Securities and Exchange Commission (SEC) oversight of Wall Street’s “regulatory and market structure weak points.”...more
On April 14, 2021, the U.S. Senate confirmed the nomination of Gary Gensler as the 33rd Chair of the U.S. Securities and Exchange Commission (“SEC” or “Commission”). This change will bring forth a Democratic majority at the...more
4/16/2021
/ Biden Administration ,
CFTC ,
Coronavirus/COVID-19 ,
Cryptocurrency ,
Dodd-Frank ,
Enforcement Actions ,
Environmental Social & Governance (ESG) ,
Fraud ,
FSOC ,
Securities and Exchange Commission (SEC) ,
Special Purpose Acquisition Companies (SPACs)
Congress voted to give the Securities and Exchange Commission (SEC) sweeping new authority to prosecute violations by creating a 10-year statute of limitations for the agency to seek disgorgement of ill-gotten gains from...more
On December 8, 2020, the U.S. House of Representatives approved final passage of a $740.5 billion annual defense policy bill, the William M. (Mac) Thornberry National Defense Authorization Act for Fiscal Year 2021 (“National...more
On June 22, 2020, the Securities and Exchange Commission (“SEC”) and Antitrust Division of the Department of Justice (“DOJ”) Antitrust Division announced that they have signed an interagency Memorandum of Understanding...more