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SEC Staff Clarifies That Certain Dollar-Backed Stablecoins Do Not Implicate the Securities Laws

The Staff noted that a stablecoin generally is not subject to SEC jurisdiction if it is not an investment and used solely for commercial activity....more

Competing Stablecoin Bills Reflect Consensus and Divergence on Key Issues

Stablecoin regulation is a top priority for lawmakers, and three recent proposals reflect differing perspectives on how to achieve regulatory clarity while balancing safety and innovation....more

The SEC’s Crypto Task Force Charts a New Course

Commissioner Hester Peirce outlined 10 priorities for the Crypto Task Force, aiming for regulatory clarity while promoting innovation in digital asset markets....more

President Trump Issues Executive Order on Digital Assets

With its pro-crypto stance and urgent posture, the executive order promises to make the US the “crypto capital of the planet.” On January 23, 2025, President Trump issued a highly anticipated executive order on digital...more

US Senators Introduce Comprehensive Stablecoin Bill

The bipartisan bill seeks to foster innovation and promote US dollar dominance while protecting consumers and mitigating illicit finance risks. On April 17, 2024, US Senators Cynthia Lummis from the Senate Banking...more

WisdomTree Granted New York Limited Purpose Trust Company Charter

As federal regulation remains patchy, firms may want to consider a New York state charter as a potential avenue to expand digital asset offerings in a compliant manner. On March 22, 2024, WisdomTree, Inc., a global asset...more

SEC Outlines 2024 Examination Priorities

The priorities highlight emerging and core risk areas for investment advisers, broker-dealers, and other entities, including cybersecurity and crypto assets. On October 16, 2023, the Securities and Exchange Commission’s...more

Illinois Considering Crypto Licensing

A legislative initiative in Illinois would establish licensing and consumer protection requirements for digital asset businesses serving consumers in the state. On February 21, 2023, the Illinois Department of Financial...more

New House Subcommittee to Prioritize Crypto Oversight

The Financial Services Committee seeks to bring order to an industry many say has suffered from lack of proper rulemaking. On January 12, 2023, incoming House Financial Services Committee Chair Patrick McHenry...more

Responsible Financial Innovation Act Offers Clarity, Safeguards for Digital Assets - SEC and Securities

Securities issues are covered in Title III (Responsible Securities Innovation) of the Responsible Financial Innovation Act (RFIA). The RFIA would add a new Section 41 to the Securities Exchange Act of 1934 (Securities...more

NFTs: But is it Art (or a Security)?

As the market for NFTs heats up, market participants should remain mindful of the regulatory implications of complex schemes. As the current crypto boom has progressed, it seemed Decentralized Finance (DeFi) had cemented...more

Crypto-Asset Trading Platforms: Another Regulatory Trip Around the World

Crypto-asset trading is a fast-growing part of the financial sector. Some countries have wholeheartedly embraced crypto-assets; others have been reticent to permit widespread adoption. Generally, countries have interpreted...more

Taking the Scarlet Out of the Letters I-C-O

SEC Commissioner Peirce has proposed a three-year safe harbor for qualifying token projects, but regulatory clarity remains elusive. SEC Commissioner Hester Peirce has been a perennial advocate of innovation in the...more

INSIGHT: Crypto - The Pursuit of Sufficient Decentralization

Recent SEC guidance on digital assets cleared a path for at least certain stable coins or payment tokens to avoid securities regulation. However, Latham & Watkins attorneys say there are still a number of open questions that...more

Harbor Finds Calmer FINRA Waters Outside the Custody Storm

In line with its previous guidance, FINRA has granted broker-dealer (but not custodian) status to a digital asset platform. In a follow-up to the July 2019 SEC and FINRA joint staff statement (Joint Statement) clarifying...more

SEC: Certain Initial Coin Offerings Are Securities Offerings

SEC’s investigative report sends clear message that virtual transactions using innovative technologies are subject to the application of securities laws. Introduction - On July 25, 2017, the US Securities and Exchange...more

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