News & Analysis as of

Digital Assets Securities Regulation

Woodruff Sawyer

Everything’s Coming Up Roses: Domestic Crypto Regulation in Spring 2025

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Last March, I wrote: “Howey Livin’? Domestic Crypto Regulation in 2024.” As elegantly foreshadowed by the hilarious title, the article covered the strange crypto regulatory moment of spring 2024: Bitcoin has been packaged...more

Polsinelli

Blockchain+ Bi-Weekly; Highlights of the Last Two Weeks in Web3 Law: April 24, 2025

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The last two weeks have seen federal agencies continue refining their approach to the digital asset industry, while state regulators are beginning to play a more prominent role—even as the overall pace of development appears...more

Hogan Lovells

The SEC’s Crypto Road Trip Gathers Momentum - Crypto Task Force begins clarifying security status and outlining registered...

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Three months into the life of the U.S. Securities and Exchange Commission’s Crypto Task Force, the SEC staff has begun taking tangible steps to define its evolving approach to the regulation of digital assets. In a series of...more

Fenwick & West LLP

SEC Outlines Disclosure Expectations for Offerings and Registrations of Securities in Crypto Asset Markets

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On April 10, 2025, the SEC’s Division of Corporation Finance (the Division) released a statement providing its views on disclosure requirements for Offerings and Registrations of Securities in the Crypto Asset Markets....more

Latham & Watkins LLP

SEC Staff Clarifies That Certain Dollar-Backed Stablecoins Do Not Implicate the Securities Laws

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The Staff noted that a stablecoin generally is not subject to SEC jurisdiction if it is not an investment and used solely for commercial activity....more

Skadden, Arps, Slate, Meagher & Flom LLP

Working Through the Riddles of Tokenized Securities

Key Points: - The SEC’s Crypto Task Force cited past “hostility” toward digital assets and aims to create a regulatory framework. - Tokenized securities face complex regulatory challenges, including compliance with the...more

ArentFox Schiff

Changes in DOJ Policy on Digital Assets Enforcement

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On April 7, the Deputy Attorney General (DAG) Todd Blanche issued a memorandum entitled “Ending Regulation By Prosecution,” detailing a significant shift in the US Department of Justice’s (DOJ) approach to digital assets....more

Troutman Pepper Locke

Navigating the Future of Payment Stablecoins: Legislative Updates and Market Implications — Payments Pros – The Payments Law...

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In this special crossover edition of the Payments Pros and Crypto Exchange podcast, Carlin McCrory is joined by colleagues Alex Barrage and Ethan Ostroff to discuss recent legislative updates surrounding payment stablecoins....more

Patterson Belknap Webb & Tyler LLP

President Trump’s SEC Trims Crypto Oversight

As we recently reviewed in The First Two Months of the SEC Under President Trump, since taking office for the second time, President Trump has moved quickly to make changes throughout the federal government in keeping with...more

A&O Shearman

SEC Staff Provides Disclosure Guidelines for Crypto Asset Securities Offering

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On April 10, 2025, the staff of the SEC’s Division of Corporation Finance (the “Staff”) issued a Staff statement providing guidance on how existing disclosure requirements apply to offerings and registrations of crypto asset...more

DLA Piper

Blockchain and Digital Assets News and Trends – April 2025

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This periodic bulletin is designed to help companies identify important legal developments governing the use and acceptance of blockchain technology, smart contracts, and digital assets. While the use cases for blockchain...more

Latham & Watkins LLP

SEC Staff Publishes Observations on Crypto Issuer Disclosures

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On April 10, 2025, the Securities and Exchange Commission’s (SEC’s) Division of Corporation Finance (the Staff) published a Statement on Offerings and Registrations of Securities in the Crypto Asset Markets (the Statement)....more

White & Case LLP

SEC Enforcement 2.0: Chairman Atkins Has Arrived

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Paul Atkins has taken the reins of the US Securities and Exchange Commission (SEC). After being confirmed by the Senate on April 9, Atkins officially began his tenure as SEC Chairman on April 21. His arrival is expected to...more

Troutman Pepper Locke

Exploring the Administration's Regulatory Impact on Private Equity — PE Pathways Podcast

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In this episode of PE Pathways, Troutman Pepper Locke Partners Thao Le, John Ford, and John Falco discuss the potential regulatory impacts of the Trump administration on the private equity industry. The conversation covers...more

Paul Hastings LLP

Dramatic Shifts Point to Foundation for a Comprehensive Digital Asset Framework in the US

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In just a few weeks, the landscape for crypto policy has continued to shift dramatically. The president signed into law the repeal of an IRS rule that would have expanded the definition of “broker” to capture DeFi protocols;...more

Allen Matkins

Digital Financial Assets - Out Of The Frying Pan And Into The Fire?

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The application of the securities laws to digital financial assets has been fraught for lawyers and their clients. After taking a hard line that many of these assets were securities under the federal securities laws, the...more

Sheppard Mullin Richter & Hampton LLP

Digital Dollars, Not Investments: SEC Staff Weighs in on Stablecoins

On April 4, the Securities and Exchange Commission’s (SEC) Division of Corporation Finance issued a statement clarifying that reserve-backed U.S. dollar stablecoins are not securities, at least under current law and...more

K&L Gates LLP

United States: The SEC Takes Another Key Step Toward Crypto Clarity

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On the heels of other guidance issued by the US Securities Exchange Commission’s (SEC) Division of Corporation Finance (Division), the Division released a statement (Statement) on 10 April 2025 addressing its views about,...more

K&L Gates LLP

Hong Kong SFC’s New Roadmap to Develop Hong Kong as a Global Virtual Asset Hub: ASPIRe

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The Hong Kong Securities and Futures Commission (SFC) has recently unveiled a growth plan for the virtual asset (VA) industry, outlined in a five-pillar roadmap called “A-S-P-I-Re.” This roadmap consists of 12 initiatives...more

King & Spalding

Gimme Shelter: CorpFin Rolls Out New Perspective on Covered Stablecoins

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On April 4, 2025, the staff of the Securities and Exchange Commission’s Division of Corporation Finance (the “Staff”) issued a Staff Statement (the “Statement”) announcing its view that the offer and sale of Covered...more

Dechert LLP

SEC Staff Issues Statement on Crypto Asset-Related Securities Offerings

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The staff of the SEC’s Division of Corporation Finance issued a Statement outlining disclosure expectations for entities conducting offerings of securities in connection with crypto asset-related activities. The Statement...more

Akin Gump Strauss Hauer & Feld LLP

SEC Staff Provides Disclosure Guidance for Crypto Asset Offerings, Registrations

On April 10, 2025, the staff of the SEC’s Division of Corporation Finance (the “Staff”) published a statement providing its views about the application of certain disclosure requirements under the federal securities laws to...more

Katten Muchin Rosenman LLP

Financial Markets and Funds Quick Take | Issue 37

Katten's Financial Markets and Funds Quick Take is a monthly newsletter highlighting key noteworthy developments potentially affecting financial markets and funds....more

Ropes & Gray LLP

SEC Crypto Roundtables Illuminate Regulatory Path for Digital Assets and Trading Platforms

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On April 10, 2025, the SEC’s newly formed Crypto Task Force held the second of its promised series of roundtables in the SEC’s “Spring Sprint Toward Crypto Clarity” initiative. Titled “Between a Block and a Hard Place:...more

Lowenstein Sandler LLP

SEC Clarifies Stance on Disclosures Relating to Crypto Assets

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The Guidance provides the Division’s views regarding certain disclosure requirements under Regulation S-K, specifically with respect to disclosures contained within Form S-1 (registration statements), Form 10-K (reporting...more

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