News & Analysis as of

Distributed Ledger Technology (DLT)

Morrison & Foerster LLP

SEC Staff Issues Clearing Agency No-Action Relief for Distributed Ledger Settlement Platform Permitting Limited U.S. Participation

On May 4, 2026, the U.S. Securities and Exchange Commission (SEC) Division of Trading and Markets staff (“Staff”) issued a no-action letter (“Relief”) stating that it would not recommend enforcement action under Section...more

Walkers

Guide to setting up a tokenised fund in the Cayman Islands

Walkers on

Engagement with CIMA is critical to a successful tokenised fund launch in the Cayman Islands. Tokenised funds regulated under the Mutual Funds Act or the Private Funds Act do not need to be separately regulated under the VASP...more

Lowenstein Sandler LLP

FinTech Five - Lowenstein's FinTech, Crypto, Trading & Markets Newsletter - May 5, 2026

On April 17, the Securities and Exchange Commission (SEC) published with immediate effectiveness a New York Stock Exchange (NYSE) proposed rule change that permits the trading of securities on the exchange in tokenized form....more

A&O Shearman

Technological revolution heralds a new dawn for financial markets

A&O Shearman on

From tokenized securities to stablecoins, digital assets are reshaping the infrastructure of capital markets. With more than USD1.5 trillion in transactions already processed on institutional platforms and regulatory...more

A&O Shearman

UK FCA innovation insights report for 2025

A&O Shearman on

The UK Financial Conduct Authority (FCA) has published its innovation insights 2025 report, setting out key trends in UK fintech innovation, evolving regulatory risks and lessons from firms' engagement with the FCA's...more

Paul Hastings LLP

SEC Unshackles Digital Asset Interfaces — What the New Broker-Dealer Guidance Means for DeFi and Every Digital Asset Platform

Paul Hastings LLP on

Whether a software interface that provides access to digital asset transactions triggers a requirement to register as a “broker” or “dealer” has been one of the most contested questions at the intersection of securities law...more

Walkers

EU CryptoReg roundup: March 2026

Walkers on

Welcome to our EU crypto update - a roundup of key Irish and EU legislative and regulatory developments shaping the crypto-asset sector....more

Skadden, Arps, Slate, Meagher & Flom LLP

Tokenized Securities: Untangling Legal and Regulatory Knots

On March 19, 2026, Skadden hosted “Tokenized Securities: Untangling Legal and Regulatory Knots,” a webinar featuring partners Michelle Gasaway, Kevin Hardy and Daniel Michael, as well as counsel Aaron Washington, who...more

Morrison & Foerster LLP

Monthly Deposits – Issue #1 - MoFo’s Bank Regulatory Newsletter

Welcome to the inaugural issue of Monthly Deposits: MoFo’s Bank Regulatory Newsletter, which provides an overview of recent developments in U.S. bank regulation, including proposed rules, reforms, and other significant...more

A&O Shearman

ECB Comprehensive Payments Strategy

A&O Shearman on

The European Central Bank (ECB) has published its comprehensive payments strategy, setting out a consolidated, forward‑looking approach for the development of European payments across wholesale, business‑to‑business, retail...more

McDermott Will & Schulte

UK Financial Conduct Authority continues to focus on private market funds

On 16 March 2026, the UK Financial Conduct Authority (FCA) published its Regulatory Priorities Report for the Wholesale Buy Side sector (the Report)....more

Ropes & Gray LLP

FCA priorities report - Key takeaways for asset managers

Ropes & Gray LLP on

On 19 March 2026, the FCA published both the Wholesale Buy Side and Wholesales Markets reports, forming part of the nine annual reports intended to replace the FCA’s prior portfolio letter approach for Board and CEOs....more

Morgan Lewis

Crypto Clarity: CFTC FAQs Clarify Use of Crypto Assets by Registrants and Registered Entities – Part 2

Morgan Lewis on

The CFTC’s Market Participants Division (MPD) and Division of Clearing and Risk (DCR) jointly issued on March 20, 2026 responses to 11 frequently asked questions addressing how futures commission merchants, derivatives...more

Cooley LLP

Project Crypto’s Sleeper Storyline: Addressing Public Company Pain Points (UPDATED)

Cooley LLP on

A lot is going on over at the SEC to set up a new regulatory framework for cryptocurrency – and maybe you think as a public company junkie that it doesn’t effect you. But it does....more

Orrick, Herrington & Sutcliffe LLP

Prudential regulators issue frequently asked questions clarifying capital treatment of tokenized securities

On March 5, the FDIC, the Fed, and the OCC issued a set of frequently asked questions (FAQs) clarifying the capital treatment of tokenized securities. The agencies explained that eligible tokenized securities should be...more

Troutman Pepper Locke

Troutman Pepper Locke Weekly Consumer Financial Services Newsletter – March 2026 #2

Troutman Pepper Locke on

To keep you informed of recent activities, below are several of the most significant federal events that have influenced the Consumer Financial Services industry over the past week. ...more

Mayer Brown Free Writings + Perspectives

Tokenization Guidance Useful to Debt and Derivatives Markets

Last week, the banking agencies issued guidance in the form of Frequently Asked Questions that provides certainty regarding the treatment of tokenized securities for purposes of the capital rules.  While this is not...more

Troutman Pepper Locke

Federal Banking Agencies Clarify Capital Treatment of Tokenized Securities

Troutman Pepper Locke on

On March 5, the Federal Deposit Insurance Corporation (FDIC), Federal Reserve Board, and Office of the Comptroller of the Currency (OCC) (collectively, the agencies) jointly issued FAQs clarifying how tokenized securities are...more

Skadden, Arps, Slate, Meagher & Flom LLP

The Forthcoming UK Cryptoasset Prudential Regime: Implications and Considerations for Firms

The UK Financial Conduct Authority’s (FCA’s) recent consultation papers represent a significant step in the UK’s development of a licensing and supervision regime for cryptoasset services, which is intended to come into force...more

A&O Shearman

ECON Draft Report On Digital Assets

A&O Shearman on

The European Parliament's Committee on Economic and Monetary Affairs (ECON) has published a draft report (dated 19 February) on digital assets and challenges for the competitiveness and integrity of the EU's financial system....more

Orrick, Herrington & Sutcliffe LLP

SEC allows broker-dealers to apply 2 percent ‘haircut’ on payment stablecoins

On February 19, the SEC’s Division of Trading and Markets issued a new frequently asked question (FAQ) on the treatment of payment stablecoins under the broker-dealer net capital rule (Exchange Act Rule 15c3-1) to its list of...more

Foley & Lardner LLP

Navigating the SEC’s Recent Statement on Tokenized Securities

Foley & Lardner LLP on

On January 28, 2026, the U.S. Securities and Exchange Commission’s (SEC) Division of Corporation Finance, Division of Investment Management, and Division of Trading and Markets issued a Statement on Tokenized Securities (the...more

Seward & Kissel LLP

SEC Guidance on Tokenization - February 2026

Seward & Kissel LLP on

The SEC’s Statement on Tokenization makes clear that tokenization may be a change in securities ownership and trading technology, but all tokenized securities remain fully subject to existing federal securities laws and...more

Lowenstein Sandler LLP

Crypto Brief - Lowenstein Crypto Newsletter - February 19, 2026

Lowenstein Sandler LLP on

SEC Chairman Atkins Delivers Remarks Outlining 2026 Crypto Regulatory Agenda- On Feb. 18, SEC Chairman Paul S. Atkins and Commissioner Hester M. Peirce delivered joint remarks outlining the SEC's comprehensive regulatory...more

Blake, Cassels & Graydon LLP

Developments in the Tokenization of Securities in Canada

As the pace of innovation accelerates the use of blockchain technology to improve and disrupt financial markets, traditional financial institutions are moving quickly to keep up. In the United States, the shift over the last...more

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