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Decentralized Finance (DeFi) Regulatory Agenda

Goodwin

DeFi Regulatory Developments in France: AMF Publishes Summary of Responses on DeFi Regulatory Approach

Goodwin on

The Autorité des Marchés Financiers (AMF), the financial markets regulator in France, has published a summary report on the regulatory issues surrounding decentralized finance (DeFi). The AMF has published the feedback it...more

A&O Shearman

House passes Financial Innovation and Technology for the 21st Century Act

A&O Shearman on

On May 22, 2024, the U.S. House of Representatives (the “House”) passed the Financial Innovation and Technology for the 21st Century Act (“FIT21” or the “Bill”) with bipartisan support by a vote of 279-136. FIT21 provides for...more

Polsinelli

Blockchain+ Bi-Weekly: May 2024 #2

Polsinelli on

The week of May 19-25 was the most promising for the regulation of blockchain technology in the United States in a very long time. Polsinelli’s Blockchain+ team delayed the publication of this Bi-Weekly update by a week to...more

Fenwick & West LLP

Tokenized Real-World Assets: Pathways to SEC Registration

Fenwick & West LLP on

Demand for tokenized real-world assets (RWAs) is rapidly growing across the decentralized finance (DeFi) community, with growing interest among existing crypto-native participants and across the traditional finance industry...more

BCLP

SEC Adopts Expanded Exchange Act Dealer Rules: What Do the New SEC Rules Mean for DeFi?

BCLP on

In March of 2022, the SEC proposed rules to include “any market participant that engages in activities as describe in the rules [as] a ‘dealer’ or ‘government securities dealer[.]’”...more

WilmerHale

Potential Impact of the SEC’s Rulemaking Agenda on Crypto

WilmerHale on

The current SEC administration has expressed the view that most crypto assets are offered and sold as securities and has proposed several rules that address “digital asset securities” or “crypto asset securities.” In this...more

BCLP

Stumbling Block? What is the Path Ahead for DeFi Through the Eyes of Policymakers?

BCLP on

DeFi development carried quietly on throughout 2023, but DeFi protocols also faced significant hurdles. In the US, the Securities and Exchange Commission (SEC) and Commodity Futures Trading Commission (CFTC) increased their...more

WilmerHale

“Decentralized Finance (DeFi),” Fintech, Regtech, and the Financial Services Industry (Ch. 8A)

WilmerHale on

Decentralized Finance (DeFi) is an umbrella term used to describe financial services provided outside of the traditional markets, that rely on blockchain technologies to create innovative products instead of relying on...more

Skadden, Arps, Slate, Meagher & Flom LLP

JPEX Is Test Case for Hong Kong’s New Regulatory Regime for Virtual Asset Exchanges

Hong Kong regulators recently brought criminal enforcement actions against virtual asset trading platform JPEX and individuals associated with the platform. This case has become the first opportunity for local authorities to...more

A&O Shearman

DeFi protocol Uniswap and investors avoid suit for fraudulent activity on digital asset exchange

A&O Shearman on

On August 30, 2023, in a case of first impression, the U.S. District Court for the Southern District of New York dismissed in full a putative securities class action against Uniswap Labs, a decentralized finance (“DeFi”)...more

Troutman Pepper

Troutman Pepper Weekly Consumer Financial Services Newsletter - September 2023

Troutman Pepper on

To help you keep abreast of relevant activities, below find a breakdown of some of the biggest events at the federal and state levels to impact the Consumer Finance Services industry this past week...more

Polsinelli

Blockchain+ Bi-Weekly - July 2023

Polsinelli on

The Blockchain Bi-Weekly presented by the Polsinelli Blockchain+ team is a rundown of some of the key stories in the Web3, blockchain and crypto ecosystems curated by our attorneys navigating the intersections of code, smart...more

Polsinelli

Proposed Digital Asset Market Structure Bill Could Give Regulatory Clarity; But is it the Regulatory Clarity the Industry Wants?

Polsinelli on

The Digital Asset Market Structure “(DAMS”) discussion draft bill attempts to provide regulatory clarity on crucial blockchain industry issues. These issues include when a blockchain is legally considered decentralized, the...more

Cadwalader, Wickersham & Taft LLP

International Securities Watchdog IOSCO Proffers Global Crypto Standards

Stepping into a breach that finds the United States without a comprehensive cryptocurrency framework while the EU is about to implement its own cryptocurrency framework this July (called Markets in Crypto Assets or MiCA,...more

BakerHostetler

Fintech Firms Pursue DeFi, CBDC Initiatives; Blockchain Integrations Announced; IRS Trains Ukraine on Crypto; FATF Voices Crypto...

BakerHostetler on

Product Integrations and Data Indicate Increased Interest in DeFi - MetaMask, a web3 Ethereum Network cryptocurrency wallet, recently announced a new integration with a major U.S. payments and fintech firm....more

J.S. Held

LA Blockchain Summit

J.S. Held on

Volatility continues to roil the crypto market in 2023 even as fear of a recession in the overall financial markets has started to subside. The massive drop in the capitalization of the global crypto market last year, along...more

WilmerHale

CFTC 2022 Enforcement and Regulatory Developments and a Look Forward

WilmerHale on

The year 2022 was a historic year for the Commodity Futures Trading Commission (“CFTC” or the “Commission”). Just four days into the new year, on January 4, 2022, Rostin Behnam was sworn in as the CFTC’s 15th Chairman. Three...more

ArentFox Schiff

Biden Administration Offers More Details on Emerging Crypto Regulatory Scheme

ArentFox Schiff on

The Biden Administration, after ordering a series of reports on the risks and potential benefits of cryptocurrency and digital assets in its March 9, 2022, Executive Order (EO), has now published the “Comprehensive Framework...more

Skadden, Arps, Slate, Meagher & Flom LLP

Cryptoasset Seizures and Forfeitures: US and UK Enforcement Overview

Regulatory scrutiny of the use and management of cryptocurrency and other digital assets such as utility tokens and non-fungible tokens (NFTs) (collectively, cryptoassets) is rapidly growing on both sides of the Atlantic....more

Cadwalader, Wickersham & Taft LLP

UK Government Announces DeFi Lending and Staking Consultation

In yet another development for the UK cryptocurrency sector, on 5 July 2022 the UK Government announced a consultation as to the taxation of cryptoasset loans and “staking” within the context of decentralised finance...more

Cadwalader, Wickersham & Taft LLP

Regulators in Multiple Jurisdictions Call for More Oversight of Crypto-Assets and Stablecoins

The last week has seen a number of announcements or statements from financial regulators calling for more oversight of crypto-assets, particularly stablecoins. Federal Reserve Vice Chair Lael Brainard gave a speech,...more

Proskauer - Blockchain and the Law

New York Financial Regulator Publishes Stablecoin Guidance

There have been a number of developments swirling around stablecoins in the past month, including, earlier this week, the recent introduction in the U.S. Senate of a bill (the “Responsible Financial Innovation Act”) that...more

Nelson Mullins Riley & Scarborough LLP

SEC’s Crypto Assets and Cyber Unit Expands Its Reach to Cryptomining

As recently discussed in FinTech Nostradamus, the SEC recently doubled the size of its Crypto Assets and Cyber Unit. Since its inception in 2017, the SEC’s Crypto Assets and Cyber Unit has launched more than 80 investigations...more

Nelson Mullins Riley & Scarborough LLP

SEC Targets Companies Conducting Cryptomining

The SEC recently doubled the size of its Crypto Assets and Cyber Unit.  Since its inception in 2017, the SEC’s Crypto Assets and Cyber Unit has launched more than 80 investigations resulting in over $2 billion in monetary...more

Cadwalader, Wickersham & Taft LLP

More Crypto Sheriffs from the SEC

The Securities and Exchange Commission ("SEC") has renamed and expanded a unit within its Division of Enforcement to address protection of investors in crypto markets. The “Crypto Assets and Cyber Unit,” which also has...more

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