Podcast: Is Cryptocurrency a Security (like an orange grove)?
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
In welcome news, the US Securities and Exchange Commission (SEC) Division of Corporation Finance (Division) recently announced “[a]s part of an effort to provide greater clarity” that meme coins do not involve the offer and...more
The Digital Chamber ("TDC"), an organization dedicated to championing Bitcoin, digital assets, and blockchain innovation, recently released a proposed agenda for the SEC's new chair and commission titled TDC's "2025 SEC...more
In 2020, the Securities ExchangeCommission (the “SEC”) filed a complaint against Ripple Labs, Inc. (“Ripple”)alleging that XRP, the native token of Ripple’s XRP Ledger, is a security, andthat Ripple’s sales of XRP constituted...more
The legislation allows decentralized autonomous organizations to gain legal entity status and operate within the bounds of applicable law. ...more
On November 20, 2023, the SEC filed a complaint in the United States District Court for the Northern District of California against Payward, Inc. and Payward Ventures, Inc. which, together, do business as Kraken. The...more
Editor's Note - The following newsletter provides a roundup summarizing enforcement actions, guidance, rulemakings, and other public statements taken by a federal and/or state financial services regulatory agency,...more
Government scrutiny of the crypto market has been sharply increasing in recent months on the criminal and civil enforcement fronts. In parallel proceedings that will be seen in other digital asset contexts — as in the...more
Proof of Stake Alliance Publishes Analysis, Advocates for Industry Standards - This week the Proof of Stake Alliance (POSA), a nonprofit industry alliance focused on proof of stake (PoS) ecosystems, announced their newly...more
Key Points - The recent indictment and multiple regulatory enforcement actions brought against a crypto trader alleged to have committed market manipulation highlight the ongoing fractured oversight of the crypto markets...more
Crypto litigation, fueled by a surge of investors and market volatility, has ballooned in recent years. For example, numerous securities class actions and government subpoenas followed the May 2022 collapse of the $60 billion...more
The plan directs the agency to develop a robust regulatory framework to prevent market misconduct, as SEC officials’ public comments keep advancements in technology high on the agenda. On August 25, 2022, the Securities...more
In late-July, the U.S. Securities and Exchange Commission brought insider trading charges against a former manager at Coinbase—the largest crypto asset trading platform in the United States. The charges are the latest move in...more
Congress comes back in session after the Labor Day weekend with a final push before the November elections. Over 20 bills regarding digital assets have been introduced to Congress, addressing a wide variety of areas including...more
A recent action brought by the U.S. Securities and Exchange Commission (“SEC”) against a former Coinbase employee for insider trading in crypto tokens (the “Wahi Action”) highlights the lack of certainty surrounding the...more
With the enduring popularity of certain NFTs and the promise of their use in the Metaverse and beyond, the hype around the new technology has been accompanied by rising concerns over NFTs being the centerpiece of traditional...more
Over the last five years, decentralized finance (DeFi), especially cryptocurrencies and other digital assets are a space that continues to grow at an exponential rate, not only for retail investors but also for private...more
In recent years, innovation in the blockchain or “Web3” space has been impacted by uncertainty on the regulatory front. Undoubtedly, the greatest area of uncertainty has involved the Securities Exchange Commission (SEC) and...more
A threshold question in many cryptocurrency inquiries is whether the digital assets qualify as securities under the federal securities laws. If so, then they are subject to a full suite of federal securities regulations....more
Cryptocurrencies are one of the fastest growing asset types worldwide. Cryptocurrencies, as an asset class, total over $1.5 trillion in market capitalization. With the rapid growth of this asset type, SEC Chair Gary Gensler...more
With offerings across a growing number of online platforms and increased trading volume, NFT issuers, promoters, and buyers should consider the legal and regulatory implications relating to NFTs and federal securities laws. ...more
Cryptocurrencies and digital assets will continue to be an area of intense regulatory focus, but a new administration may bring new regulations. SEC Chairman Gensler has extensive experience with cryptocurrencies and...more
Developing a framework for consumer tokens - With the rapid growth in the development of blockchain technology, virtual currencies and token sales (sometimes referred to as initial coin offerings, or ICOs), token...more
In remarks made at the Yahoo! All Markets Summit in New York, Heath Tarbert, Chairman of the U.S. Commodity Futures Trading Commission (CFTC), said that he believed the Ether cryptocurrency was a “commodity” and should be...more
It is official. Finally. On October 10, 2019, the Commodity Futures Trading Commission (“CFTC”) Chairman Heath Tarbert announced that he believes ether is a commodity and thus falls under the jurisdiction of the CFTC....more