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Decentralized Finance (DeFi) Enforcement Actions Financial Services Industry

BakerHostetler

Weekly Blockchain Blog - June 2024

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In a recent press release, Grayscale Investments announced “the creation and public launch of two new crypto investment trusts: Grayscale Near Trust and Grayscale Stacks Trust.” According to the press release, “The trusts...more

BakerHostetler

New Crypto Payment and Web3 Products Launch; UK Seeks Input on DeFi Taxation; OFAC Fines Crypto Exchange; SEC, DOJ, CFTC Continue...

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Multiple Financial Services Firms Announce New Crypto Products - A major U.S. financial services firm recently launched its Crypto Credential product, “a set of common standards and infrastructure that will help verify...more

Proskauer - Blockchain and the Law

CFTC Enforcement Highlights Potential Compliance Risks to Crypto Exchanges for Derivatives Trading

Binance is the latest major crypto industry player to be sued by a U.S. regulator. On March 27, 2023, the CFTC announced that it had filed a civil enforcement action against Binance Holdings Limited (and related legal...more

Orrick, Herrington & Sutcliffe LLP

Company to pay $45 million to SEC, states for unregistered crypto-lending product

On January 19, the SEC charged a Cayman Islands digital asset firm for allegedly failing to register the offer and sale of its retail crypto-asset lending product. According to the SEC’s cease-and-desist order ...more

Jones Day

New York Joins Other States in Enforcement Actions Against Unregistered Virtual Currency Lending Platforms

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On October 18, 2021, New York Attorney General Letitia James directed two virtual currency lending platforms to immediately cease their unregistered and allegedly unlawful activities in New York and sent letters to three...more

Jones Day

DeFi Identified as Potential Focus for CFTC Enforcement Action

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CFTC Commissioner asserts that Decentralized Finance ("DeFi") likely violates the Commodity Exchange Act ("CEA") and that the regulator should respond accordingly. DeFi is an umbrella term encompassing a range of...more

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