News & Analysis as of

Cryptoassets Securities Act of 1933 Securities Exchange Act of 1934

Troutman Pepper Locke

SEC Clarifies Disclosure Requirements for Crypto Asset Securities

Troutman Pepper Locke on

On April 10, the Securities and Exchange Commission’s (SEC) Division of Corporation Finance (the Division) issued a statement aimed at providing greater clarity on the application of federal securities laws to crypto assets....more

Lowenstein Sandler LLP

SEC Greenlights Proof-of-Work Mining

Lowenstein Sandler LLP on

The Division’s statement specifically addresses the mining of crypto assets that are intrinsically linked to the programmatic functioning of a public, permissionless network. These assets, referred to by the Division as...more

Farella Braun + Martel LLP

Howey Test for Crypto Asset Transactions Analyzed in Recent Denial of Kraken's Motion to Dismiss in ND California

In a recent decision in SEC v. Payward, Inc. (d/b/a “Kraken”), Judge Orrick of the Northern District of California denied Kraken's motion to dismiss the SEC's suit against it. In its complaint, the SEC alleges that Kraken...more

A&O Shearman

Second Circuit Reverses Dismissal Of Putative Securities Class Action By Crypto Investors, Addressing Extraterritoriality And...

A&O Shearman on

On March 8, 2024, the United States Court of Appeals for the Second Circuit reversed a trial court decision dismissing a putative securities class action brought by purchasers of crypto assets against an international crypto...more

Davis Wright Tremaine LLP

Investment Adviser Expectations in 2024

Like many other industries, Registered Investment Advisers ("RIAs") have dealt with significant regulatory, technological, and systemic change in recent years. Compared to FINRA-regulated entities, RIAs often face these...more

Skadden, Arps, Slate, Meagher & Flom LLP

Investment Management Update - November 2023

...SEC Adopts Amendments to Fund Names Rule - On September 20, 2023, the U.S. Securities and Exchange Commission (SEC) adopted amendments to Rule 35d-1 under the Investment Company Act of 1940 (the Fund Names Rule) as well...more

Fenwick & West LLP

SEC Issues Guidance on Accounting for Safeguarding Crypto Assets

Fenwick & West LLP on

In light of an increasing number of companies that give platform users the ability to transact in crypto assets and provide a service to safeguard such assets, the staff of the Securities and Exchange Commission issued Staff...more

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