News & Analysis as of

Comment Period Digital Assets

Eversheds Sutherland (US) LLP

The CFTC issues requests for comments on 24/7 trading and perpetual derivatives contracts

On April 21, 2025, the Commodity Futures Trading Commission (CFTC) Divisions of Market Oversight, Clearing and Risk, and Market Participants issued two Requests for Comment (RFCs) on 24/7 trading and clearing of derivatives...more

Venable LLP

California Proposes Licensing Framework for Digital Financial Asset Businesses

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The California Department of Financial Protection and Innovation (DFPI) has released proposed regulations implementing the Digital Financial Assets Law (DFAL), creating a formal licensing regime for businesses engaging in a...more

Jones Day

The CFTC is Off to a Fast Start Under Acting Chairman Pham

Jones Day on

In a break from the typical acting agency chairman, Acting Commodity Futures Trading Commission ("CFTC") Chairman Caroline Pham has taken several significant actions, signaled several more, and set the agency on a path to...more

WilmerHale

CFPB Proposes Significant Expansion in Scope of EFTA and Regulation E

WilmerHale on

On January 10, 2025, the Consumer Financial Protection Bureau (CFPB or Bureau) issued a proposed interpretive rule that would expand the Bureau’s consumer protection authority under the Electronic Fund Transfer Act (EFTA) and...more

Orrick, Herrington & Sutcliffe LLP

CFPB seeks comments on proposed interpretive rule expanding the application of the EFTA to a wide range of digital assets

On January 10, the CFPB proposed an interpretive rule that could significantly broaden the scope of the EFTA to encompass a broad range of digital assets, including—if they meet certain requirements — cryptocurrency accounts,...more

Orrick, Herrington & Sutcliffe LLP

CFPB Proposal to Broaden EFTA/Reg E Scope has Implications for Crypto, Gaming and Credit Cards

On Friday, January 10, the Consumer Financial Protection Bureau (CFPB) proposed an interpretive rule that could significantly broaden the scope of the Electronic Fund Transfer Act (EFTA) to encompass a wide range of digital...more

Latham & Watkins LLP

Global DCA Proposes Information Guidelines for Certain Tokens Made Available in the US

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The resource aims to provide a comprehensive, voluntary framework to enhance transparency in the digital assets market and enable informed decision-making for potential buyers....more

Allen Matkins

DFPI Invites Comments On DFAL Rulemaking

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In October, I reported on the Governor's signing of AB 39 which creates the Digital Financial Assets Law.   On or after July 1, 2025, the DFAL will prohibit a person from engaging in digital financial asset business activity...more

Foodman CPAs & Advisors

Regulaciones Propuestas Para Activos Digitales Del IRS

Foodman CPAs & Advisors on

El 29/08/23, el IRS emitió un Aviso de Reglamentación Propuesta y un Aviso de Audiencia Pública para las regulaciones propuestas sobre los activos digitales. Las Regulaciones Propuestas de Activos Digitales del IRS abordan el...more

Foodman CPAs & Advisors

IRS Digital Assets Proposed Regulations

Foodman CPAs & Advisors on

On 8/29/23, the IRS issued a Notice of Proposed Rulemaking and Notice of Public Hearing for Digital Assets Proposed Regulations. The IRS Digital Assets Proposed Regulations address information reporting, the determination...more

Goodwin

SEC’s ATS Re-proposal Doubles Down on DeFi and Digital Asset Regulation

Goodwin on

In April 2023, the SEC re-proposed amendments to Exchange Act Rule 3b-16 to expand the definition of what it means to be an exchange. When the SEC initially proposed these amendments in January 2022, there were zero direct...more

Morgan Lewis

IRS Releases Proposed Digital Asset Regulations

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The Internal Revenue Service (IRS) recently released proposed regulations regarding broker reporting for digital assets, including expansions of and additions to certain definitions, rules, and requirements. The IRS seeks...more

Paul Hastings LLP

IRS Issues Proposed Regulations for Digital Asset Reporting

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The Internal Revenue Service and Treasury Department have issued long-awaited Proposed Regulations for parties that will be required to report transactions involving digital assets. These newly identified parties will need to...more

McDermott Will & Emery

Proposed Regulations From the IRS Outline Reporting Requirements for Cryptocurrency “Brokers”

McDermott Will & Emery on

On August 29, 2023, the Internal Revenue Service (IRS) published new proposed regulations on tax reporting requirements for cryptocurrency brokers. The proposed regulations build on efforts to expand IRS regulation over...more

Sullivan & Worcester

Treasury and IRS Issue Proposed Regulations for Tax Reporting Requirements on Digital Asset Transactions

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On August 29, 2023, the Department of the Treasury and the Internal Revenue Service (“IRS”) published proposed regulations that, if finalized, would require brokers (including digital asset trading platforms, digital asset...more

Perkins Coie

With Specific Focus on Crypto, SEC Revisits Proposed “Exchange” Definition Changes

Perkins Coie on

The U.S. Securities and Exchange Commission (the SEC or the Commission) voted on Friday, April 14, 2023, to reopen the comment period for previously proposed amendments to Rule 3b-16 under the Exchange Act of 1934 (the...more

Latham & Watkins LLP

SEC Tackles Digital Assets in Reopened Proposal to Reinterpret Definition of “Exchange”

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Whereas the original proposal did not directly discuss digital assets, the reopening release is mainly focused on digital asset platforms. On April 14, 2023, the Securities and Exchange Commission (SEC) issued a release...more

Goodwin

Digital Asset Custody and the SEC’s Proposed Safeguarding Rule: Significant Potential Implications and Unanswered Questions

Goodwin on

On February 15, 2023, the Securities and Exchange Commission (SEC) released a proposed rulemaking (the Proposal) that would transform existing Rule 206(4)-2 (the Custody Rule) under the Investment Advisers Act of 1940 (the...more

Barnea Jaffa Lande & Co.

Digital Assets or Securities?

The Israel Securities Authority is proposing to apply the same laws to digital assets as apply to financial assets, which are under the ISA’s supervision. The legislative amendments include revisions to definitions of the...more

Ballard Spahr LLP

Treasury seeks comments on digital assets, including opportunities and risks for consumers

Ballard Spahr LLP on

On July 8, with limited fanfare, the Department of Treasury issued a request for public comment regarding the March 9, 2022 Executive Order entitled “Ensuring Responsible Innovation in Digital Assets” (the “Order”). The...more

Paul Hastings LLP

Daily Financial Regulation Update -- Wednesday, July 13, 2022

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July 12, 2022- The U.S. Department of the Treasury released a notice seeking public comment regarding potential opportunities and risks presented by developments and adoption of digital assets as part of its work under...more

Kilpatrick

Treasury Provides 30 Days for Comment on Digital Assets Development

Kilpatrick on

On July 8, 2022, the U.S. Department of the Treasury (Treasury) published a Request for Comment seeking public input on U.S. digital assets development. The Request for Comment was published pursuant to the Biden...more

Kilpatrick

Digital Assets Regulation Framework: Commerce Solicits Public Comment

Kilpatrick on

On May 19, 2022, the U.S. Department of Commerce published a Request for Comment titled “Developing a Framework on Competitiveness of Digital Asset Technologies." Digital assets, in this context, cover a broad array of...more

Allen Matkins

California Regulator Seeks Comments On Crypto Asset Related Financial Products

Allen Matkins on

In accordance with Governor Gavin Newsom's executive order, California's Department of Financial Protection & Innovation is soliciting coments concerning crypto asset related financial products.  The DFPI's invitation for...more

Pillsbury Winthrop Shaw Pittman LLP

Commerce Requests Public Input on Digital Assets in Response to Biden’s Executive Order

Businesses connected to digital assets in any way have an opportunity to influence public policy if they submit comments by July 5, 2022. On May 19, 2022, the U.S. Department of Commerce’s International Trade...more

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