News & Analysis as of

Cryptocurrency Regulatory Authority

Awatif Mohammad Shoqi Advocates & Legal...

Virtual Assets or Cryptocurrency Under UAE Law.

Digital currency, or cryptocurrency, is an alternative payment method developed with encryption methods. Encryption technology enables cryptocurrencies to act as both a currency and a virtual accounting system. The use and...more

Mayer Brown

OCC Reiterates Full Scope of Crypto Custody Authority of Banks It Regulates

Mayer Brown on

On May 7, 2025, the Office of the Comptroller of the Currency (“OCC”) issued Interpretative Letter 1184 (“IL 1184”) confirming that national banks and federal savings associations may provide cryptocurrency custody...more

Snell & Wilmer

Event Contracts Versus Sportsbooks: Charting the Legal Divide in U.S. Gambling Law

Snell & Wilmer on

Peer‑to‑peer sports event contracts have surged in popularity. Kalshi, a U.S.-based prediction market, reported that its sports event contracts yielded $249 million through the first two rounds of the NCAA Basketball...more

Ballard Spahr LLP

SEC Curtails Enforcement Leadership’s Investigation and Subpoena Power, Signals Greater Commissioner Oversight Over Enforcement

Ballard Spahr LLP on

On Monday, March 10, 2025, the SEC announced a new final rule revoking the Director of Enforcement’s previous authority to issue formal orders, which have the effect of officially initiating investigations and permitting...more

Troutman Pepper Locke

Unpacking the Fifth Circuit's Landmark Tornado Cash Decision — The Crypto Exchange Podcast

Troutman Pepper Locke on

In this episode of the Crypto Exchange, Ethan Ostroff is joined by colleagues Pete Jeydel and Matt Orso to discuss a recent landmark decision from the Fifth Circuit regarding Tornado Cash. The court ruled that the Office of...more

Troutman Pepper Locke

Eighteen State AGs and DeFi Education Fund Sue SEC for Approach to Digital Asset Regulation

Troutman Pepper Locke on

On November 14, a coalition of 18 states, led by Utah Attorney General (AG) Sean Reyes, the outgoing chairman of the Republican AGs Association, filed a lawsuit against the U.S. Securities and Exchange Commission (SEC) and...more

A&O Shearman

Fifth Circuit Limits OFAC Authority Over Certain Cryptocurrency Products

A&O Shearman on

On November 26, 2024, the Fifth Circuit Court of Appeals held that the United States Office of Foreign Assets Control (“OFAC”) exceeded its authority by adding an entity that pools and anonymizes crypto transactions to OFAC’s...more

Mayer Brown

Federal Appeals Court Tosses OFAC Sanctions on Tornado Cash and Limits Federal Government’s Ability to Police Crypto Transactions

Mayer Brown on

On November 26, 2024, the United States Court of Appeals for the Fifth Circuit issued a landmark decision holding that the Treasury Department’s Office of Foreign Assets Control (“OFAC”) exceeded its statutory authority by...more

K&L Gates LLP

The Italian Law Implementing the EU MiCar Regulation: A "MiFIDisation" of Crypto-Assets?

K&L Gates LLP on

On 13 September 2024 Legislative Decree no. 129/2024 (Decree no. 129), implementing the MiCAR Regulation (Regulation (EU) 2023/1114 of the European Parliament and of the Council of 31 May 2023 on markets in crypto-assets –...more

Perkins Coie

Securities Enforcement Forum Central 2024: SEC Enforcement Trends and Priorities Ahead of New Statistical Year

Perkins Coie on

Senior Division of Enforcement officials from the U.S. Securities and Exchange Commission (SEC) spoke with SEC alumni, private practitioners, and other professionals at the Securities Enforcement Forum Central 2024 (the...more

Cozen O'Connor

Republican AGs Pen Amicus Challenging SEC’s Authority to Regulate Crypto

Cozen O'Connor on

A group of 7 Republican AGs filed an amicus brief with the U.S. District Court for the Northern District of Texas in a litigation between the SEC and a company in the cryptocurrency space, arguing that the SEC does not have...more

Mayer Brown Free Writings + Perspectives

House Passes Digital Asset Market Structure Legislation: Financial Innovation and Technology for the 21st Century Act (FIT21)

On May 22, 2024, the US House of Representatives passed H.R. 4763, the Financial Innovation and Technology for the 21st Century Act (FIT21), which would amend existing securities and commodity regulatory statutes to...more

Latham & Watkins LLP

Hong Kong Consults on Proposed Approach to Stablecoin Legislation

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The proposed regulatory framework would create substantive obligations on issuers of fiat-referencing stablecoins to safeguard the public. On 27 December 2023, the Financial Services and the Treasury Bureau (FSTB) and...more

BakerHostetler

Bank Launches Blockchain Network; Stablecoin Initiatives Launch in Foreign Markets; New Crypto Guidance Published; Reports Provide...

BakerHostetler on

U.S. Bank Launches Blockchain Network, Crypto Bank Gains Securities License - According to recent reports, the largest bank in the U.S. has gone live with its blockchain-based Tokenized Collateral Network (TCN) and...more

Goodwin

Acquiring or Investing in EU Crypto-Asset Businesses: MiCA’s Impact

Goodwin on

As noted in our previous alerts “Marketing Crypto-Assets in and Into Europe: MiCA, the EU’s New Uniform Crypto Code” and “Doing Crypto Business in Europe: MiCA, the EU’s New Uniform Crypto Code – Part 2”, the European Union...more

Pillsbury Winthrop Shaw Pittman LLP

Coinbase Contests the SEC’s Regulatory Authority over Crypto Exchanges, Staking

Arguments presented by Coinbase in its answer to SEC charges would, if accepted, potentially deprive the SEC of its most effective tool in regulating digital assets. The SEC alleges in a Complaint in SDNY that Coinbase...more

Latham & Watkins LLP

Digital Asset Market Structure Bill Seeks to Fill US Regulatory Gaps

Latham & Watkins LLP on

The proposed bill sets forth a comprehensive framework for the digital asset ecosystem by bridging regulatory gaps, promoting innovation, and protecting consumers. On June 2, 2023, Patrick McHenry, Chairman of the House...more

Latham & Watkins LLP

Illinois Considering Crypto Licensing

Latham & Watkins LLP on

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

WilmerHale

FTX Bankruptcy - What Could Be Next for the Industry?

WilmerHale on

One of the world’s largest cryptocurrency exchanges - FTX Trading Ltd. - and many of its affiliates filed for bankruptcy earlier this month. While the full impact of the FTX bankruptcy is not yet clear, various responses from...more

BakerHostetler

New Crypto Products Launch; US Official Addresses Crypto Regulation; State Securities Regulators Target Metaverse Casino NFTs; DOJ...

BakerHostetler on

Crypto Products Launch in Debit Cards, Payment Gateways, Trading Platforms - This week, two cryptocurrency financial services and trading platforms announced partnerships with traditional financial services companies to...more

Cadwalader, Wickersham & Taft LLP

Proposed Legislation to Regulate Digital Commodity

On August 3, Senate Agriculture Committee Chairwoman Debbie Stabenow, a Democrat from Michigan, and John Boozman, the top Republican on the committee, introduced a bipartisan bill aimed at regulating digital assets....more

Cadwalader, Wickersham & Taft LLP

CFTC’s Enforcement of Fraudulent and Manipulative Pump-and-Dump Scheme in Crypto Commodities

The Commodity Futures Trading Commission (“CFTC”) has two levels of jurisdiction under the Commodity Exchange Act (“CEA”). First, there is an exclusive (or regulatory) jurisdiction over “derivatives” on “commodities,”...more

Barnea Jaffa Lande & Co.

Crypto Custody Services and Regulation – A Review

Institutional investors, corporations, exchanges, individuals, and crypto miners all have strong demand for crypto custody services, as provided by special market participants. These services intend to safeguard customers’...more

Cohen & Gresser LLP

COVID, Crypto, and Kleptocrats: Current Justice Department Enforcement Initiatives

Cohen & Gresser LLP on

The Department of Justice (DOJ) has recently signaled a renewed focus on enforcement, and its priorities are being driven by world events. In the past few months, the DOJ has announced new task forces and more resources to...more

Dorsey & Whitney LLP

Crypto Assets: From Off The Grid To A Seat At The Table

Dorsey & Whitney LLP on

The Beginning - Crypto assets were initially “off the grid,” and many early proponents celebrated the promise of their regulatory independence. While conventional assets were governed by a virtual alphabet soup of federal...more

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