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Seward & Kissel LLP

[Hybrid Event] Blockchain Symposium: Spring Crypto | Crypto Spring - March 27th, New York, NY

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Please join Seward and Kissel's Blockchain & Cryptocurrency Group on Wednesday, March 27, 2024 for the S&K Blockchain Symposium: Spring Crypto | Crypto Spring....more

BakerHostetler

Weekly Blockchain Blog - March 2024 #3

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Financial Firms Complete Blockchain Pilot, UK Approves Crypto ETNs - A recent press release announced completion of the Canton Network pilot, “a first-of-its-kind program demonstrating the interoperability of twenty-two...more

Akin Gump Strauss Hauer & Feld LLP

CryptoLink - January 2024 Updates

Congress continues to plug along on crypto policy. The Senate’s attention – on a bipartisan basis – has been focused on extending Anti-Money Laundering (AML) regulatory authority to the digital assets space. This continues to...more

Skadden, Arps, Slate, Meagher & Flom LLP

Investment Management Update - February 2024

In this issue, we cover regulatory developments from the fourth quarter of 2023 impacting the investment management sector, including the use of shareholder rights plans as an alternative to state control share statutes....more

ArentFox Schiff

Groundbreaking SEC Decision Approves Spot Bitcoin ETP Trading

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The US Securities and Exchange Commission (SEC) recently issued a highly anticipated decision authorizing the listing and trading of spot Bitcoin exchange-traded products (ETPs) on national listing exchanges. The decision...more

Morrison & Foerster LLP

Don’t Get Too Excited, but the SEC Approved Bitcoin ETPs

On January 9, a hacker posted from the Securities and Exchange Commission’s (SEC) official X account. The post announced that the SEC had officially approved exchange-traded funds (ETFs) to hold spot bitcoin. Within 30...more

Latham & Watkins LLP

SEC Issues Omnibus Approval for Spot Bitcoin Exchange-Traded Products

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The SEC’s long-awaited green light for spot bitcoin ETPs is welcomed by the market, but the ambivalent decision raises more questions than it answers. On January 10, 2024, the Securities and Exchange Commission (SEC)...more

Goldberg Segalla

Brokers Better Be Ready for Bitcoin ETFs

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KEY TAKEAWAYS - The U.S. Securities and Exchange Commission (SEC) has approved the first spot Bitcoin ETFs, also known as an exchange-traded product (ETP.) With the SEC now permitting spot Bitcoin ETFs, brokers must become...more

BCLP

At Long Last: What Crypto’s First Spot Etfs Mean for the Digital Asset Industry

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After years of denials, the SEC has finally approved its first Bitcoin spot ETFs. Reaching this point has involved legal battles, repeated reviews of applications, and much more....more

Proskauer - Regulatory & Compliance

SEC Approves Exchange Listing Applications for Spot Bitcoin ETPs

On January 10, 2024, the Securities and Exchange Commission (“SEC”) issued an order approving the applications of 11 different spot Bitcoin exchange‑traded products (the “Approved ETPs”) to each list and trade their shares on...more

Orrick, Herrington & Sutcliffe LLP

SEC approves Bitcoin use in 11 exchange-traded products

On January 10, the SEC issued an order approving 11 exchange-traded products (ETPs) holding Bitcoin to be publicly traded. According to the order, the SEC found that the proposed ETPs are consistent with the Securities...more

Katten Muchin Rosenman LLP

After Over a Decade of Rejections, SEC Approves 11 New Spot Bitcoin ETPs

Eleven spot bitcoin-based exchange-traded products (ETPs) were finally approved by the Securities and Exchange Commission (SEC) on January 10, 2024, after multiple such ETPs had been rejected by the SEC over the last ten...more

Robinson+Cole Data Privacy + Security Insider

SEC’s Hacked X Account Leads to Tumultuous Bitcoin Market

The Securities and Exchange Commission has confirmed that its X account “was compromised, and an unauthorized post was posted.” The SEC confirmed that it “has not approved the listing and trading of spot bitcoin...more

Foley & Lardner LLP

SEC Greenlights Bitcoin ETFs: What Happened and What It Portends

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On January 10, 2024, the U.S. Securities and Exchange Commission (SEC) approved the launch of several BTC Exchange-Traded Funds (ETFs).[1] The approval order resolves the critical legal and regulatory issues entailed in...more

Latham & Watkins LLP

Grayscale Scores Provisional Win in Bid for Spot Bitcoin ETP

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An appeals court panel rules that the SEC rejection of a proposed spot bitcoin ETP was arbitrary and capricious, opening the door for the potential launch of numerous ETPs in the near future. On August 29, 2023, a...more

Dechert LLP

D.C. Circuit Finds SEC Acted “Arbitrarily and Capriciously” in Disapproving Proposed Bitcoin ETP

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The U.S. Court of Appeals for the D.C. Circuit (the “Court”) issued a major ruling against the Securities and Exchange Commission (“SEC”) on August 29, 2023, holding that the SEC acted arbitrarily and capriciously when it...more

Troutman Pepper

The SEC, Grayscale, and the Race for a Spot-Bitcoin ETF: An Inside Look at the APA’s “Arbitrary and Capricious” Standard

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In the ever-evolving world of digital assets and law, Grayscale Investments, LLC (Grayscale) found itself at the pinnacle of a major decision by the Court of Appeals for the District of Columbia. On August 29, the court...more

Polsinelli

Blockchain+ Bi-Weekly - September 2023

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The Blockchain Bi-Weekly presented by the Polsinelli Blockchain+ team is a rundown of some of the key stories in the Web3, blockchain and crypto ecosystems curated by our attorneys navigating the intersections of code, smart...more

Jones Day

Grayscale Scores Win Against the SEC, but the Agency's Significant Market Test Remains Unaddressed

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The D.C. Circuit rebuked the U.S. Securities and Exchange Commission ("SEC") on administrative law grounds but left untouched the test the Agency used to deny proposed bitcoin exchange traded products ("ETP")....more

Goodwin

Grayscale Investments Petitions D.C. Circuit For Review Of SEC’s Decision To Disapprove Proposed Bitcoin Exchange-Traded Product

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On June 29, 2022, Grayscale Investments, LLC petitioned the U.S. Court of Appeals for the District of Columbia for review of the U.S. Securities and Exchange Commission’s June 29, 2022 final order disapproving of an October...more

BakerHostetler

Crypto Products and Mining Initiatives Launch; Sports and Spirits Firms Embrace Blockchain; US Agencies Seek Crypto Input, Address...

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A well-known digital currency investment services company announced the launch of its first European exchange-traded fund (ETF), according to a press release this week. The ETF, which will be traded on multiple foreign...more

Morgan Lewis

ETF Roundup – Issue 7 December 2021

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UPDATE ON CRYPTO ASSETS IN ETFS - In 2018, the US Securities and Exchange Commission’s Division of Investment Management staff penned a letter to the Investment Company Institute and the Securities Industry and Financial...more

Latham & Watkins LLP

New SEC Chairman Gives His First Speech on Crypto

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Gary Gensler asserts the SEC’s broad powers over digital assets, and puts consumer protection at the forefront. On August 3, 2021, Gary Gensler, chairman of the US Securities and Exchange Commission (SEC), gave a speech on...more

Latham & Watkins LLP

El Salvador Christens Bitcoin as Legal Tender

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A sovereign nation’s decision to adopt Bitcoin as legal tender raises interesting questions — and legal ramifications. On June 8, 2021, El Salvador’s Legislative Assembly voted to establish Bitcoin as unrestricted legal...more

Dorsey & Whitney LLP

Crypto, Tech and Slow Evolution Forward

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Crypto currency continues to be debated - some believe in it; others do not. The decision by the founder of Tesla to exit the market recently seems to have added a new element, however. Now the question is if crypto is energy...more

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