News & Analysis as of

Regulatory Oversight Commodities Futures Trading Commission Digital Assets

Eversheds Sutherland (US) LLP

The CFTC issues requests for comments on 24/7 trading and perpetual derivatives contracts

On April 21, 2025, the Commodity Futures Trading Commission (CFTC) Divisions of Market Oversight, Clearing and Risk, and Market Participants issued two Requests for Comment (RFCs) on 24/7 trading and clearing of derivatives...more

Eversheds Sutherland (US) LLP

Draft legislation proposes shift in regulatory oversight of digital assets

On May 5, 2025, the US House of Representatives Financial Services Committee and Agriculture Committee released a draft bill that would shift oversight of most digital assets from the Securities and Exchange Commission (SEC)...more

K&L Gates LLP

United States: Staff Cedes Jurisdiction Over Certain Stablecoins

K&L Gates LLP on

On 4 April 2025, the SEC’s Division of Corporation Finance (Division) issued a statement (Statement) providing that the offer and sale of certain “Covered Stablecoins” do not involve the offer and sale of securities within...more

A&O Shearman

SEC staff takes a position on the security status of USD-backed stablecoins

A&O Shearman on

On April 4, 2025, the staff of the SEC’s Division of Corporation Finance (the “Staff”) issued a statement concluding that a narrow class of USD-backed, fully reserved, non-yield-bearing stablecoins (“Covered Stablecoins”) do...more

A&O Shearman

Heightened Surveillance And Regulatory Requirements For Virtual Currency Derivatives Exchanges Withdrawn

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On March 28, 2025, the Commodity Futures Trading Commission (“CFTC”) Division of Market Oversight (“DMO”) and Division of Clearing and Risk (“DCR”) withdrew Staff Advisory No. 18-14, Advisory with respect to Virtual Currency...more

Moore & Van Allen PLLC

The Desk: April Edition

March is over and all of our brackets are busted. We hope you have been enjoying, Moore & Van Allen’s very own, Jay Bilas’ coverage on ESPN. In this month’s newsletter we will walk you through the CFTC’s continued updates on...more

Katten Muchin Rosenman LLP

CFTC Withdraws Pair of Advisories on Heightened Review Approach to Digital Asset Derivatives

On March 28, the staff of the Commodity Futures Trading Commission (CFTC) issued two press releases announcing the withdrawal of two previous advisories that reflected the agency's heightened review approach to digital asset...more

Morrison & Foerster LLP

CFTC Staff Withdraws Advisory on Virtual Currency Derivative Product Listings

On March 28, 2025, the U.S. Commodity Futures Trading Commission’s (CFTC) Division of Market Oversight (DMO) and Division of Clearing and Risk (DCR) announced in CFTC Letter 25-07 that they are withdrawing CFTC Staff Advisory...more

Jones Day

Regulating Digital Assets: FIT21 Seems to Fit the Bill

Jones Day on

The United States lacks a regulatory framework geared toward digital assets. This raises consumer protection concerns, causes regulatory turf battles and duplicative enforcement actions, impedes innovation, and puts the...more

Akin Gump Strauss Hauer & Feld LLP

CryptoLink - January 2025 Updates

Both the CFTC and SEC have new Acting Chairs, who are known to be crypto advocates, with Mark Uyeda being appointed Acting Chair of the SEC, taking over from Gary Gensler, while Caroline D. Pham has assumed the role of Acting...more

Polsinelli

Blockchain+ Bi-Weekly - March 2024 #2

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It was a busy two weeks in Web3 law, as Binance lost in an appeal that could have wide-ranging jurisdictional implications outside of just digital assets. Coinbase also went on the offensive against the SEC in appealing the...more

Cadwalader, Wickersham & Taft LLP

Jurisdictional Boundaries Between CFTC Swaps and SEC Security-Based Swaps Clarified

On September 19, 2023, the jurisdictional boundaries between the regulation of swaps by the Commodity Futures Trading Commission (the “CFTC”) and the regulation of security-based swaps (“SBSs”) by the Securities and Exchange...more

Cadwalader, Wickersham & Taft LLP

Take Two: The Lummis-Gillibrand Crypto Assets Bill 2.0

On July 12, Senator Kirsten Gillibrand, a Democratic senator from New York who sits on the Senate Banking Committee, and Senator Cynthia Lummis, a Republican senator from Wyoming who sits on the Agriculture Committee, joined...more

Skadden, Arps, Slate, Meagher & Flom LLP

New Senate Crypto Bill Would Limit SEC Regulatory Role in Favor of CFTC

A bipartisan bill introduced in the U.S. Senate last week seeks “to bring crypto assets within the regulatory perimeter” by granting oversight responsibility to the Commodity Futures Trading Commission (CFTC) for most forms...more

Polsinelli

Blockchain+ Bi-Weekly - June 2023

Polsinelli on

Highlights of the Last Two Weeks in Blockchain+ 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...more

Cadwalader, Wickersham & Taft LLP

New Bipartisan Bill Takes Aim at Digital Asset Money Laundering and Terrorism Finance

On December 14, Senators Elizabeth Warren (D-Mass.) and Roger Marshall (R-Kan.) introduced in the U.S. Senate a new bipartisan bill, titled "Digital Asset Anti-Money Laundering Act of 2022" (the “Bill”), intended to curb the...more

Morgan Lewis - All Things FinReg

Congressional Hearings on FTX Collapse May Lead to Crypto Regulations

The Senate Agriculture, Nutrition & Forestry Committee held a hearing, “Why Congress Needs to Act: Lessons Learned From the FTX Collapse,” on December 1, 2022, receiving testimony from Commodity Future Trading Commission...more

A&O Shearman

FSOC Report on Digital Assets: Mitigate Crypto Risks through Regulatory Oversight

A&O Shearman on

On October 3, 2022, as lawmakers in the United States continue to debate which agencies should regulate crypto-based activities, the Financial Stability Oversight Council (FSOC) released its Report on Digital Asset Financial...more

Polsinelli

Senate Hearing Advocates Limited Digital Asset Regulation Reform Including CFTC Regulation of Bitcoin and ETH

Polsinelli on

On September 15, 2022, the Senate Committee on Agriculture, Nutrition, and Forestry (the “Ag. Committee”) held a hearing to discuss Senate Bill 4760, titled the Digital Commodities Consumer Protection Act of 2022 (the “Bill”)...more

Skadden, Arps, Slate, Meagher & Flom LLP

The Distributed Ledger: Blockchain, Digital Assets and Smart Contracts

A flurry of legal and enforcement activity has arisen over the last two weeks across a wide range of areas in the Web3 space, including actions by the Securities and Exchange Commission, the Office of Foreign Assets Control,...more

Cadwalader, Wickersham & Taft LLP

In Depth: Regulation and Enforcement of the Digital Assets Markets, Part Two – Focus on Enforcement

In last week's Cabinet News and Views, we examined the U.S. regulators' approach to the digital asset space, with a focus on the assertion of jurisdiction by the CFTC, the SEC, prudential regulators, state executive and...more

Cadwalader, Wickersham & Taft LLP

In Depth: Regulation and Enforcement of the Digital Assets Markets, Part One

As more market participants, from consumers to major financial institutions and central banks of various countries, become active in the digital asset space, the U.S. regulators are ramping up their oversight activity related...more

Venable LLP

Bipartisan Bill to Regulate Digital Assets Introduced: Pathway to Comprehensive Regulation Remains Unclear, NFTs Not Addressed

Venable LLP on

Last month, a bipartisan pair of senators released the first comprehensive cryptocurrency bill that, though it is unlikely to become law, will frame how Congress discusses future legislation. The sweeping draft from Senators...more

Sheppard Mullin Richter & Hampton LLP

March 2022 Crypto Enforcement Actions Roundup

In the wake of President Biden’s March 9, 2022, executive order outlining his Administration’s desire to establish a comprehensive federal approach to crypto policy and regulation, federal agencies are continuing to focus on...more

Proskauer - The Capital Commitment

Regulatory Shake-Out on Digital Assets: An Industry Waits for Additional Guidance

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

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