News & Analysis as of

Securities and Exchange Commission (SEC) Cryptocurrency Securities Exchange Act

Mayer Brown Free Writings + Perspectives

The SEC’s Staff of the Division of Corporation Finance Clarifies Its Views on Crypto Mining

On March 20, 2025, the SEC’s Staff of the Division of Corporation Finance (the “Division”) issued a statement providing its views that crypto mining activities (as defined in its statement) do not involve the offer and sale...more

Fenwick & West LLP

Entertainment or Investment? The SEC’s Stance on Meme Coins as Securities

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On February 27, 2025, the Securities and Exchange Commission’s (SEC) Division of Corporation Finance (Corp Fin) published a new staff statement intended to clarify the application of federal securities laws to meme coins....more

Seward & Kissel LLP

Finally, clarity (or perhaps, “clarity-ish”)

Seward & Kissel LLP on

After years of refusing to give clear answers on the issue of which tokens are securities, the SEC has finally provided some clarity, at least with respect to meme coins: they are not securities. Well, actually, not quite;...more

Latham & Watkins LLP

SEC Withdraws Appeal of Court Decision to Vacate Its Dealer Rules

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The SEC’s move is part of a recent shift toward a less enforcement-centric approach that is set to reshape the regulatory framework for digital assets in the US....more

Cornerstone Research

SEC Enforcement of Cryptocurrency Dropped 30% in the Last Year of the Gensler Administration

Cornerstone Research on

Enforcement during Gensler administration was considerably higher than during the previous administration. The Securities and Exchange Commission (SEC) brought 33 cryptocurrency-related enforcement actions in 2024, the...more

Morrison & Foerster LLP

SEC Division of Examinations 2025 Exam Priorities – a Focus on Artificial Intelligence, Private Funds, and Cybersecurity

On October 21, 2024, the U.S. Securities and Exchange Commission’s (“SEC”) Division of Examinations (“EXAMS”) announced its 2025 Examination Priorities (the “2025 Priorities”), highlighting areas that it expects to target...more

Orrick, Herrington & Sutcliffe LLP

Crypto exchange files complaint against SEC for “de facto” rule

On October 8, a crypto exchange company filed a complaint against the SEC in the U.S. District Court for the Eastern Division of Texas, Tyler Division, seeking declaratory and injunctive relief to prevent the SEC from...more

Katten Muchin Rosenman LLP

Bitnomial Exchange Sues SEC, Challenging Agency's Authority Over XRP Futures

Bitnomial Exchange, LLC (Bitnomial), a designated contract market (DCM) registered with the Commodity Futures Trading Commission (CFTC), has launched a legal offensive against the US Securities and Exchange Commission (SEC),...more

A&O Shearman

Western District Of Texas Dismisses Putative Securities Class Action Against Cryptocurrency Exchange For Lack Of Personal...

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On September 6, 2024, Judge Robert Pitman of the United States District Court for the Western District of Texas dismissed a putative securities class action against a family of corporations (“Corporate Defendants”) that,...more

Paul Hastings LLP

The SEC Alleges Software Provider to be a Broker and Underwriter in Continued Crackdown on the Crypto Industry

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On June 28, 2024, the Securities and Exchange Commission (“SEC”) filed a complaint alleging that Consensys Software, Inc. (“Consensys”), the developer of the MetaMask self-hosted wallet, acted as an unregistered broker...more

Fenwick & West LLP

SEC v. Binance: Court Decides Majority of Claims Can Proceed but Expresses Skepticism of SEC’s Application of Law to the...

Fenwick & West LLP on

Of particular importance for the crypto industry, the opinion analyzes the SEC’s allegations that Binance and BAM offered and sold various tokens and programs to investors as investment contracts without registering them with...more

Morrison & Foerster LLP

Top 5 SEC Enforcement Developments for April 2024

Each month, we publish a roundup of the most important SEC enforcement developments for busy in-house lawyers and compliance professionals. This month, we examine: •The SEC’s first “Shadow Trading” trial; •SCOTUS’s...more

A&O Shearman

SEC Achieves Jury Verdict In Cryptocurrency Fraud Case

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On April 5, 2024, a jury in the Southern District of New York found cryptocurrency startup Terraform Labs PTE Ltd. (the “Company”) and its co-founder, Do Kwon, liable for securities fraud. The jury sided with the SEC in...more

Morrison & Foerster LLP

Top 5 SEC Enforcement Developments for February 2024

Each month we publish a roundup of the most important SEC enforcement developments for busy in-house lawyers and compliance professionals. This month, we examine: •The SEC’s expanded definition of securities dealers; - •An...more

Jones Day

2023 Securities Litigation Year in Review

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During 2023, securities lawsuit filings rose for the first time in four years. Settlements declined last year; there were nine mega-settlements of more than $100 million, including a $1 billion settlement. Case filings...more

Morrison & Foerster LLP

Top 5 SEC Enforcement Developments for January 2024

Each month we publish a roundup of the most important SEC enforcement developments for busy in-house lawyers and compliance professionals. This month, we examine: •The SEC’s approval of spot bitcoin ETPs; - •SEC charges...more

Cornerstone Research

SEC Cryptocurrency Enforcement Report Summary

Cornerstone Research on

Cryptocurrency enforcement continues to be a high priority for the U.S. Securities and Exchange Commission (SEC). In 2023, the SEC administration under Chair Gary Gensler brought a total of 46 cryptocurrency-related...more

Morrison & Foerster LLP

Top 5 SEC Developments (November 2023)

Morrison & Foerster LLP on

Each month, we publish a roundup of the most important SEC enforcement developments for busy in-house lawyers and compliance professionals. This month, we examine: • The SEC’s announcement of its Fiscal Year 2023 enforcement...more

Skadden, Arps, Slate, Meagher & Flom LLP

Inside the Courts – An Update From Skadden Securities Litigators - December 2023

The U.S. Supreme Court will likely decide before the end of its current term whether the failure to make a disclosure pursuant to Item 303 of Regulation S-K can serve as the basis for a securities fraud claim under Section...more

Troutman Pepper Locke

Troutman Pepper Weekly Consumer Financial Services Newsletter - November 2023 # 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

Orrick, Herrington & Sutcliffe LLP

SEC charges crypto company with fraud and anti-registration violations

On November 1, the SEC charged a crypto company and its executive team with fraud through the unregistered sale of crypto asset securities. According to the complaint, the defendants represented in marketing materials,...more

Jones Day

SEC Rebuked for Failing to Explain Why It Declined to Regulate a Financial Product

Jones Day on

The SEC's loss highlights a bigger problem with legislation that calls for sharing jurisdiction with the CFTC over financial products....more

Skadden, Arps, Slate, Meagher & Flom LLP

Inside the Courts – An Update From Skadden Securities Litigators - May 2023

Supreme Court Hears Argument on Traceability Requirement in Circuit-Split Slack v. Pirani - Key Points - - Before the end of June, the U.S. Supreme Court is expected to issue a decision in a high-profile securities case...more

Goodwin

Court Dismisses Post-SPAC Class Action for Lack of Standing

Goodwin on

On March 31, 2023, U.S. District Judge Ronnie Abrams of the Southern District of New York dismissed a putative securities class action against CarLotz, Inc. (CarLotz), and certain of its officers and directors on the grounds...more

McGuireWoods LLP

Notable Litigation – April 2023

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Notable litigation filed during April 2023 includes: (1) SEC v. French, et al., (2) Gary Kennedy v. Ghap, LLC, et al., (3) Abanda v. OurBloc LLC, et al.,(4) Sunrise NPL, LLC v. Easy Financial, LLC, et al., and(5) Joseph v....more

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