News & Analysis as of

Distributed Ledger Technology (DLT) Digital Assets Securities Exchange Act

Eversheds Sutherland (US) LLP

Digital asset securities: broker-dealer custody issues

As 2020 came to a close, the issue of how digital asset securities can be custodied by US broker-dealers became clearer, at least from a regulatory standpoint. In a release issued pursuant to the Securities Exchange Act of...more

Latham & Watkins LLP

SEC Issues Guidance for Broker-Dealer Custody of Digital Assets

Latham & Watkins LLP on

In a year-end change of course, the SEC identified the minimum steps that broker-dealers must take when acting as custodians of digital asset securities. On December 23, 2020, the US Securities and Exchange Commission (SEC)...more

Perkins Coie

Blockchain Week in Review - January 2020 #3

Perkins Coie on

U.S. Developments - Federal and State Regulatory Developments - Bill in Hawaii State Senate Addresses Digital Assets Including Authorization for Banks to Serve as Qualified Custodians - SB 2594 before the Hawaii...more

Latham & Watkins LLP

2019 Digital Asset Regulatory Look Back (US Edition)

Latham & Watkins LLP on

It was a year filled with tantalizing tidbits and many loose ends. 2019 marked the 10th year since blockchain technology was released into the wild by its still unknown inventor, Satoshi Nakamoto, who mined the first bitcoin...more

WilmerHale

SEC No-Action Letter Opens the Door to Innovation for Securities Clearance and Settlement

WilmerHale on

On October 28, 2019, Paxos Trust Company, LLC (Paxos) received a time-limited (two-year) No-Action Letter from the Division of Trading and Markets of the U.S. Securities and Exchange Commission (SEC). This No-Action Letter...more

Proskauer Rose LLP

SEC Gives Guidance on Securities Analysis for Digital Assets

Proskauer Rose LLP on

TurnKey No-Action Letter and Framework Publication - The Securities and Exchange Commission ("SEC") recently issued highly anticipated guidance to assist market participants in determining whether a digital asset is...more

Troutman Pepper Locke

Token Taxonomy Act – Exempting Digital Tokens from U.S. Securities Laws

Troutman Pepper Locke on

On April 10, 2019, U.S. Representatives Warren Davidson (R-OH) and Darren Soto (D-FL) reintroduced the Token Taxonomy Act (“TTA”) in the effort to amend the Securities Act of 1933 and the Securities Exchange Act of 1934 to...more

Skadden, Arps, Slate, Meagher & Flom LLP

The Distributed Ledger: Blockchain, Digital Assets and Smart Contracts - April 2019

In this issue, we examine the release of the much-anticipated Strategic Hub for Innovation and Financial Technology (FinHub) guidance for analyzing how U.S. federal securities laws apply to initial coin offerings, the...more

Perkins Coie

The SEC and Digital Assets—A Busy Year End

Perkins Coie on

The end of the year has been a very busy time for the SEC in the digital asset space. From speeches to the issuance of joint statements to enforcement actions, there are many things to highlight, discuss and consider. This...more

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