News & Analysis as of

Digital Assets Hedge Funds

Carlton Fields

SEC and CFTC Amend Form PF … Again: Private Fund Advisers Should “Kick the Tires” Before Next Race to File

Carlton Fields on

In February 2024, the SEC and the Commodity Futures Trading Commission (CFTC) adopted major amendments to Form PF to provide greater transparency into the operations and strategies of private funds, and to assist the...more

Cadwalader, Wickersham & Taft LLP

Should I Stay or Should I Go? Hedge Funds: Crypto and State Tax

Hedge fund managers have a state tax gating issue when it comes to adding crypto to their assets under management. Generally, states such as New York, Connecticut and California encourage asset managers to locate in their...more

K&L Gates LLP

SEC and CFTC Adopt Amendments to Form PF for Increased Disclosure

K&L Gates LLP on

Brief Overview - On 8 February 2024, the US Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) jointly adopted amendments to Form PF (the Amendments), the confidential reporting form...more

Dechert LLP

FSOC Relaxes Process to Designate Nonbanks as Systemically Important

Dechert LLP on

The Financial Stability Oversight Council unanimously approved an analytic framework for financial stability risk identification, assessment and response and interpretive guidance on nonbank financial company determinations...more

Proskauer - Corporate Defense and Disputes

The Ripple Effect: Implications of the SEC’s Partial Loss in SEC v. Ripple Labs Inc.

The SEC suffered a significant loss last week in its ongoing legal battle with Ripple over the XRP digital token. While the District Court held that Ripple’s initial sales of XRP to institutional investors constituted the...more

Morrison & Foerster LLP

SDNY Issues Split Decision in SEC v Ripple Labs, Potentially Complicating Analysis of When Crypto-Tokens Will Be Treated as...

On July 13, 2023, Judge Analisa Torres in the Southern District of New York issued the much-anticipated summary judgment order in the Securities and Exchange Commission’s (SEC) case against Ripple Labs and two senior leaders,...more

BakerHostetler

Stablecoin Pilot Launches; Crypto Fund Report Published; Senate Seeks Crypto Tax Input; Numerous Crypto Enforcement Actions...

BakerHostetler on

Company Announces Stablecoin Pilot; BIS Publishes Reports on CBDCs - According to a blog post by a major multinational software company, the company has begun a pilot project to experiment with using the USDC and EUROC...more

ArentFox Schiff

SEC - CFTC Joint Proposed Amendments Introduce Enhanced Private Fund Reporting Requirements

ArentFox Schiff on

On August 10, 2022, the US Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) issued a joint proposal to amend Form PF, a reporting form for SEC-registered reporting private fund...more

Conyers

The Cayman Islands and British Virgin Islands – Good Alternatives for a Crypto Fund

Conyers on

A recent report published by AIMA, the 4th AIMA Annual Global Crypto Hedge Fund Report 2022, highlighted the continued growth in the AUM being allocated to this asset class during 2021....more

Wilson Sonsini Goodrich & Rosati

SEC Proposes Changes to the Definitions of “Dealer” and “Government Securities Dealer” Under the Securities Exchange Act

The Rule Proposal Would Clarify Which Market Participants Are Engaged in Buying and Selling Securities for Their Own Account "as Part of a Regular Business" and Are Subject to Dealer Registration Requirements....more

Morgan Lewis

Sec Seeks to Make Certain Hedge Funds, Digital Asset Traders, and Other Proprietary Traders Register as Broker dealers

Morgan Lewis on

On March 28, the Securities and Exchange Commission (SEC) proposed rules (Proposal) that would require certain market participants to register as broker-dealers or government securities dealers, and potentially be subject to...more

BakerHostetler

NFTs Launch, Regulators Target Crypto Ads and Scams, Nebraska Passes Digital Asset Bank Charter, Reports Detail Crypto Hedge Funds...

BakerHostetler on

BD-ATS to Issue Blockchain Securities, Crypto Hedge Fund Report Published - Blockchain-based trading platform tZERO recently announced an agreement with an energy projects funding platform to digitize approximately $25...more

Robinson & Cole LLP

2021 Investment Adviser Update

Robinson & Cole LLP on

Into The Flood Again, Same Old Trip It Was Back Then - The rules and regulations governing private equity and hedge fund advisers continue to develop in response to changes in technology. As a result, advisers are subject...more

Sheppard Mullin Richter & Hampton LLP

Recent Development in Regulatory Enforcement of Digital Securities

In a flurry of activity and confluence of developments, the SEC, FINRA and a Brooklyn federal judge have commenced actions and made rulings that continue to define the regulatory framework and obligations surrounding the sale...more

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