There is no question that the Trump Administration is taking a markedly different approach to crypto regulation compared to the Biden Administration. The turning of the tide began when the White House nominated former PayPal...more
3/10/2025
/ Blockchain ,
CFTC ,
Cryptocurrency ,
Digital Assets ,
Enforcement Actions ,
FinTech ,
Fraud ,
Regulation A ,
Safe Harbors ,
Securities and Exchange Commission (SEC) ,
Securities Regulation ,
Tokenization
On January 21, 2025, Acting SEC Chairman Mark Uyeda announced the creation of a crypto Task Force dedicated to developing a "comprehensive and clear regulatory framework for crypto assets." Acting Chairman Uyeda tasked...more
1/30/2025
/ CFTC ,
Cryptoassets ,
Cryptocurrency ,
Digital Assets ,
Executive Orders ,
Financial Regulatory Reform ,
FinTech ,
Pilot Programs ,
Regulatory Agenda ,
Securities and Exchange Commission (SEC) ,
Securities Regulation ,
Trump Administration
On January 13, 2024, the U.S. Court of Appeals for the 3rd Circuit ruled on Coinbase's Petition for Review of the SEC's Order denying Coinbase's Petition for Rulemaking requesting that the Commission promulgate rules...more
1/29/2025
/ Administrative Procedure Act ,
CFTC ,
Coinbase ,
Constitutional Challenges ,
Cryptocurrency ,
Digital Assets ,
Due Process ,
Enforcement Actions ,
FCC ,
Popular ,
Rulemaking Process ,
Securities and Exchange Commission (SEC) ,
Securities Regulation
We have previously analyzed the recent history of Executive Orders ("EOs") controlling the issuance and content of regulations. As we saw on Inauguration Day 2025, and continue to see, the second Trump Administration is...more
The Trump Administration has embarked on a fundamental shift on how the United States approaches digital assets—in marked contrast with the Biden Administration's policies—likely changing the prospects of the crypto market in...more
1/27/2025
/ Biden Administration ,
Blockchain ,
CFTC ,
Congressional Review Act ,
Cryptocurrency ,
Cyber Crimes ,
Digital Assets ,
Executive Orders ,
Federal Reserve ,
FinTech ,
Liquidity ,
National Security ,
Regulatory Reform ,
Securities and Exchange Commission (SEC) ,
Stablecoins ,
Trump Administration ,
U.S. Treasury
The Digital Chamber ("TDC"), an organization dedicated to championing Bitcoin, digital assets, and blockchain innovation, recently released a proposed agenda for the SEC's new chair and commission titled TDC's "2025 SEC...more
On December 11, 2024, the 5th Circuit issued another important opinion (for the third time this year) requiring that an administrative agency's rules fit squarely within the statutory scheme that empowers the agency to act....more
12/24/2024
/ Board of Directors ,
Consumer Financial Protection Bureau (CFPB) ,
Corporate Governance ,
Disclosure Requirements ,
Diversity ,
En Banc Review ,
Financial Reporting ,
Nasdaq ,
Proposed Amendments ,
Proposed Rules ,
Reporting Requirements ,
Rulemaking Process ,
Securities and Exchange Commission (SEC) ,
Securities Exchange Act of 1934 ,
Self-Regulatory Organizations
During the Biden-Harris Administration, the relationship between financial institutions and their regulators chilled considerably. The financial services industry works daily with its regulators—especially through the...more
11/20/2024
/ Banks ,
Buy Now Pay Later (BNPL) ,
Chevron Deference ,
Community Reinvestment Act ,
Consumer Financial Protection Act (CFPA) ,
Consumer Financial Protection Bureau (CFPB) ,
Digital Assets ,
Dodd-Frank ,
FDIC ,
Financial Institutions ,
Financial Services Industry ,
Loper Bright Enterprises v Raimondo ,
Popular ,
Proposed Regulation ,
SCOTUS ,
Securities and Exchange Commission (SEC) ,
Statutory Authority ,
Truth in Lending Act (TILA) ,
UDAAP
"The United States, with its history of welcoming innovators, has a large reserve of good will. In a country that ever aspires to improve with time, people are hopeful that bad policy approaches can change. This hope is not...more
The Announcement and Its Sources -
Last week, the vice chairman of the Federal Reserve Board, Michael S. Barr, gave prepared remarks at the Brookings Institution announcing a significant recalibration of the Fed's Basel...more
9/23/2024
/ Administrative Procedure Act ,
American Bankers Association ,
Capital Markets ,
Federal Reserve ,
Lending ,
Loper Bright Enterprises v Raimondo ,
Mortgages ,
Notice of Proposed Rulemaking (NOPR) ,
SCOTUS ,
Securities and Exchange Commission (SEC) ,
Share Buybacks
One of the most fundamental activities of an insured depository institution (IDI) is taking and safekeeping customer deposits. However, a recent proposed rulemaking by the Federal Deposit Insurance Corporation (FDIC) poses...more
8/16/2024
/ Administrative Procedure Act ,
American Bankers Association ,
Brokered Deposits ,
Deposit Insurance ,
FDI Act ,
FDIC ,
Final Rules ,
Liquidity ,
Notice of Proposed Rulemaking (NOPR) ,
Proposed Rules ,
Reversal ,
Rulemaking Process ,
Securities and Exchange Commission (SEC)
SCOTUS limits agency use of ALJs in civil penalty proceedings -
On June 27, 2024, in a 6-3 decision, the Supreme Court held in SEC v. Jarkesy that the Securities and Exchange Commission ("SEC" or the "Commission") could...more
7/9/2024
/ Administrative Authority ,
Administrative Law Judge (ALJ) ,
Administrative Proceedings ,
Enforcement Actions ,
Financial Institutions ,
Jury Trial ,
Public Rights Doctrine ,
SCOTUS ,
SEC v Jarkesy ,
Securities and Exchange Commission (SEC) ,
Securities Fraud ,
Securities Litigation ,
Securities Regulation ,
Seventh Amendment