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Enforcement Actions Commodities Futures Trading Commission

Jones Day

CFTC Divisions Interpret "U.S. Person" Definition and U.S. Location Versus Foreign Location

Jones Day on

A 2024 CFTC enforcement action settlement that may have introduced a new test for when the Commodity Exchange Act and the agency's regulations apply on a cross-border basis concerned then-CFTC Commissioner and now Acting CFTC...more

Troutman Pepper Locke

Troutman Pepper Locke Weekly Consumer Financial Services Newsletter – May 2025 # 4

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

NAVEX

Compliance Considerations for Shifting Enforcement Priorities in the Digital Asset Industry

NAVEX on

Consistent with the Trump administration’s shifting enforcement priorities, both the Department of Justice (DOJ) and the Commodity Futures Trading Commission (CFTC) announced they will be significantly scaling back on...more

WilmerHale

The First 100 Days and Beyond of the Trump 2.0 Administration: Crypto Developments Overview

WilmerHale on

The Trump administration recently reached the 100-day mark, representing the end of a critical period for presidential administrations where major policies and goals are initially established....more

Katten Muchin Rosenman LLP

Financial Markets and Funds Quick Take | Issue 38

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

Katten Muchin Rosenman LLP

SEC Reporting Parties Can Continue Following CFTC Reporting Rules When Reporting Security-Based Swap Data Until 2029

As a result of the Securities and Exchange Commission (SEC or the Commission) recently extending relief that the Commission originally granted under its 2019 Compliance Statement, security-based swap (SBS) market participants...more

Faegre Drinker Biddle & Reath LLP

What the CFTC’s Recent Actions on Digital Assets and Environmental/Sustainable Commodities Signal to the Market

Digital Assets: From Enforcement to Opportunity - In March 2025, the Commodity Futures Trading Commission (CFTC) removed its advisory, Review of Risks Associated With Expansion of DCO Clearing of Digital Assets, with...more

K&L Gates LLP

NFA Proposes Guidance on Diligent Supervision of Associated Persons

K&L Gates LLP on

UPDATE: On 1 May 2025, NFA withdrew Interpretive Notice 9083. The guidance remains available on NFA’s website for industry participants’ review....more

Skadden, Arps, Slate, Meagher & Flom LLP

Cybersecurity Trends in the Digital Asset Space

After years of regulatory uncertainty, the Trump administration has signaled a new approach to digital assets, including by establishing a working group focused on digital assets and nominating crypto-friendly chairs to the...more

Holland & Knight LLP

New Jersey Federal Court Sides with Kalshi Over Prediction Market Contracts

Holland & Knight LLP on

Prediction market platform Kalshi has secured a preliminary injunction against the New Jersey Division of Gaming Enforcement (the Division), preventing the state from enforcing a cease-and-desist order that aimed to halt...more

Snell & Wilmer

Event Contracts Versus Sportsbooks: Charting the Legal Divide in U.S. Gambling Law

Snell & Wilmer on

Peer‑to‑peer sports event contracts have surged in popularity. Kalshi, a U.S.-based prediction market, reported that its sports event contracts yielded $249 million through the first two rounds of the NCAA Basketball...more

Morrison & Foerster LLP

CFTC Advisory Outlines Materiality Criteria for Enforcement Referrals

On April 17, 2025, three operating divisions (the “Operating Divisions”) of the U.S. Commodity Futures Trading Commission (“CFTC”) and the Division of Enforcement (“DOE”) provided guidance in CFTC Letter 25-13 (the...more

Lowenstein Sandler LLP

Crypto Brief - Lowenstein Crypto Newsletter - April 24, 2025

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Lowenstein Crypto advises leading digital asset and cryptocurrency projects, exchanges, and trading firms. Our practice covers regulatory advice, transactions and structuring advice, investigations, and adversarial matters...more

Jones Day

CFTC Operating and Enforcement Divisions Issue Advisory on Referrals to Enforcement Division

Jones Day on

On April 17, 2025, the Commodity Futures Trading Commission's ("CFTC") operating divisions ("Divisions") provided guidance in an advisory on the criteria they will use when determining whether to refer self-reported...more

Brownstein Hyatt Farber Schreck

Recent State Enforcement Actions Take Aim at Sports-Based Event Contracts

In recent months, numerous online commodity trading markets have begun to offer sports-based event contracts concerning the outcome of various sporting events. These event contracts—which are a type of derivative...more

Morgan Lewis

CFTC Staff Issue Advisory on Criteria for Referrals to the Division of Enforcement

Morgan Lewis on

The staff of the US Commodity Futures Trading Commission (CFTC or Commission) on April 17, 2025 issued an advisory outlining the criteria the agency’s Market Participants Division, Division of Clearing and Risk, and Division...more

Husch Blackwell LLP

CFTC Releases Criteria for Operating Divisions to Refer Violations to Enforcement Division

Husch Blackwell LLP on

On April 17, 2025, the Commodity Futures Trading Commission’s (CFTC) Market Participants Division (MPD), the Division of Clearing and Risk (DCR), and the Division of Market Oversight (DMO)—collectively the Operating...more

Katten Muchin Rosenman LLP

What the CFTC's Operating Divisions Will Consider When Making Enforcement Referrals

The three operating divisions of the CFTC (Division of Market Oversight, Market Participants Division, and the Division of Clearing and Risk, together the Operating Divisions) issued an advisory on April 17, explaining the...more

Davis Wright Tremaine LLP

CFTC Divisions Issue Staff Advisory on Referrals to Division of Enforcement

On April 17, 2025, the Market Participants Division, the Division of Clearing and Risk, and the Division of Market Oversight (collectively, the "Operating Divisions") of the CFTC, along with the Division of Enforcement...more

DLA Piper

Blockchain and Digital Assets News and Trends – April 2025

DLA Piper on

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

Skadden, Arps, Slate, Meagher & Flom LLP

CFTC Issues Advisory on Referrals to the Division of Enforcement

On April 17, 2025, three operating divisions of the Commodity Futures Trading Commission (CFTC) jointly issued an advisory to provide guidance on the materiality or other criteria they will use in deciding whether to make a...more

Davis Wright Tremaine LLP

CFTC Eliminates PTMMM Disclosure Requirements for Swap Entities

On April 4, 2025, the CFTC's Division of Market Participants issued No-Action Letter 25-09 regarding the controversial Pre-Trade Mid-Market Mark ("PTMMM") requirements in CFTC Regulation 23.431, effectively eliminating the...more

Lowenstein Sandler LLP

Crypto Brief - Lowenstein Crypto Newsletter - April 10, 2025

Lowenstein Sandler LLP on

Lowenstein Crypto advises leading digital asset and cryptocurrency projects, exchanges, and trading firms. Our practice covers regulatory advice, transactions and structuring advice, investigations, and adversarial matters...more

Katten Muchin Rosenman LLP

After 12 Enforcement Actions and 9 No-Action Letters, CFTC Staff Effectively Repeals the Pre-Trade Mid-Market Mark Disclosure...

The Commodity Futures Trading Commission's (CFTC or Commission) Market Participants Division (MPD) issued Letter 25-09, which effectively eliminates the pre-trade mid-market mark (PTMMM) disclosure requirement for uncleared...more

Morrison & Foerster LLP

The Department of Justice Announces New Enforcement Policy for Digital Assets

On April 7, 2025, Deputy Attorney General Todd Blanche issued a memo (the “Blanche Memo”) announcing the Trump administration’s Department of Justice (“DOJ”) refocus of enforcement policies related to investigations and...more

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