News & Analysis as of

Securities and Exchange Commission (SEC) Digital Assets Securities Tokens

Fenwick & West LLP

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

Fenwick & West LLP on

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

Latham & Watkins LLP

It’s Time to Bring Assets Onchain

Latham & Watkins LLP on

In an opinion post for a16z crypto, Latham lawyer Jenny Cieplak calls for a new regulatory approach for tokenized securities. A significant number of projects over the past several years have “tokenized” so-called real...more

Holland & Knight LLP

SEC's New Crypto 2.0 Task Force Gets to Work

Holland & Knight LLP on

On Feb. 4, 2025, SEC Commissioner Hester Peirce, in her role as head of the Commission's newly minted Crypto Task Force, provided additional detail regarding the task force's objectives. She began by managing expectations,...more

WilmerHale

Opportunities Await: Engaging with the SEC’s Crypto Task Force

WilmerHale on

On February 4, 2025, Commissioner Hester Peirce offered a first glimpse at the Securities and Exchange Commission’s (“SEC”) roadmap for establishing a regulatory framework for crypto. Tasked with leading the SEC’s...more

Proskauer - Regulatory & Compliance

Digital Assets:  What to Expect from the Incoming Administration and Congress

The Trump Administration and the new Republican-led Congress are expected to create a friendlier governmental approach to crypto assets. Among other things, key nominees to serve as senior administration officials are known...more

BakerHostetler

Weekly Blockchain Blog - August 2024 #3

BakerHostetler on

Crypto Firms Announce New Products in Payments, Investments, Custody - A major U.S. digital asset management company recently announced the creation and public launch of its MakerDAO Trust, which “offers investors the...more

Fenwick & West LLP

SEC v. Ripple Decision Makes Waves in Digital Assets Enforcement

Fenwick & West LLP on

On August 7, 2024, nearly four years after the SEC filed its complaint alleging Ripple sold XRP in unregistered securities transactions in violation of Section 5 of the Securities Act, the district court issued its final...more

Latham & Watkins LLP

Ruling for SEC Clears Path for Continued Litigation in SEC v. Coinbase

Latham & Watkins LLP on

The decision, which addresses a broad range of market activity by Coinbase relating to 13 third-party tokens, could have significant implications for market participants. On March 27, 2024, Judge Katherine Failla of the US...more

Seward & Kissel LLP

Who Will Eat Prometheum’s Liver?

Seward & Kissel LLP on

According to mythology, the titan Prometheus gave humans the gift of fire. As punishment, Zeus had Prometheus chained to a rock and an eagle would swoop down to eat his liver, which would then regrow overnight, for the cycle...more

Cornerstone Research

SEC Cryptocurrency Enforcement under the Gensler Administration

Cornerstone Research on

In addition to tokens and crypto issuers, the SEC enforcement continued its focus on crypto lending and trading platforms. In January 2023, the SEC brought two enforcement actions against three firms for unregistered offer...more

Mintz - Securities Litigation Viewpoints

Judge Rakoff puts the Ripple Party on Ice as the Crypto Community and SEC Ponder their Next Moves

Just barely two weeks ago, we wrote about the half-victory for Ripple Labs in its ongoing litigation with the Securities and Exchange Commission (“SEC”), in which Judge Analisa Torres granted partial summary judgment in favor...more

Barnea Jaffa Lande & Co.

Crypto as a Security – Applying the Howey Test

A US court recently handed down a landmark ruling addressing the question of whether the crypto token XRP falls under the definition of “security”. The US court ruled that the same crypto token may be classified differently...more

BakerHostetler

DeFi, Stablecoin Products Launch; FASB to Allow Fair Value for Crypto Accounting; SEC Addresses Crypto IRAs; DOJ Enforcement...

BakerHostetler on

DeFi, Stablecoin Products Launch; Bitcoin Network Spikes Due to NFTs - According to reports, a new decentralized finance (DeFi) protocol recently launched that allows users to deposit the stablecoins USDC or DAI in a...more

Latham & Watkins LLP

LBRY Ruling: A Nice Read for the SEC

Latham & Watkins LLP on

In granting the SEC’s motion for summary judgment, a federal court ruled that sales of LBC tokens were securities transactions. On November 7, 2022, the Securities and Exchange Commission (SEC) prevailed in a motion for...more

Kramer Levin Naftalis & Frankel LLP

The SEC’s Limited Guidance on Crypto Tokens in No-Action Letters

The Securities and Exchange Commission (SEC or Commission) has been accused of “regulation by enforcement” when it comes to the standard for determining whether a crypto token is a security. Part of this stems from the fact...more

Faegre Drinker Biddle & Reath LLP

U.S. District Judge Rejects Argument that Sale of “Stand-In” Tokens Was Not a Sale of Unregistered Securities

On January 8, 2021, Judge Richard Seeborg of the United States District Court for the Northern District of California issued an Order denying a motion to dismiss in S.E.C. v. NAC Foundation, LLC, et al. The U.S. Securities &...more

Latham & Watkins LLP

2020 Digital Asset Regulatory Lookback (US Edition)

Latham & Watkins LLP on

Regulators once again offered piecemeal guidance, while focusing on risks and enforcement. Meanwhile, innovation and institutional adoption took off. Last year, Latham & Watkins sounded a hopeful note that 2020 would provide...more

Skadden, Arps, Slate, Meagher & Flom LLP

The Distributed Ledger: Blockchain, Digital Assets and Smart Contracts - October 2020

Recent and significant regulatory and legislative events in the digital asset space demonstrate the evolving and expanding approach by U.S. and international regulators to the burgeoning digital asset markets. These...more

Latham & Watkins LLP

SEC Greenlights Investment Fund Delivered in Security Tokens

Latham & Watkins LLP on

The milestone fund structure portends a reduced role for broker-dealers, who may be sidelined by innovators unwilling to wait for regulators. On July 6, 2020, asset management firm Arca announced that the US Securities and...more

Latham & Watkins LLP

2019 Digital Asset Regulatory Look Back (US Edition)

Latham & Watkins LLP on

It was a year filled with tantalizing tidbits and many loose ends. 2019 marked the 10th year since blockchain technology was released into the wild by its still unknown inventor, Satoshi Nakamoto, who mined the first bitcoin...more

Polsinelli

FINRA and SEC Issue Joint Statement on Security Token and Custody Rules

Polsinelli on

On July 8, 2019, the staff of the U.S. Securities and Exchange Commission (“SEC”) Division of Trading and Markets and the staff of the Financial Industry Regulatory Authority (“FINRA”) issued a joint statement outlining...more

Barnea Jaffa Lande & Co.

An Important Milestone - First Supervised Security Token Offering

After a long wait, the US Securities and Exchange Commission (SEC) has permitted a startup company to raise funds from the general public through a supervised security token offering (STO) under Reg A+ regulations....more

Skadden, Arps, Slate, Meagher & Flom LLP

Investment Management Update - June 2019

In the inaugural issue of Investment Management Update, we summarize regulatory, litigation and industry developments from February 2019 to May 2019 impacting the investment management sector....more

Skadden, Arps, Slate, Meagher & Flom LLP

The Current State of Cryptocurrency Enforcement and Securities Litigation

On April 24, 2019, Skadden hosted a webinar titled “The Current State of Cryptocurrency Enforcement and Securities Litigation.” The presented topics largely focused on the SEC’s evolving regulatory approach to cryptocurrency...more

Nutter McClennen & Fish LLP

Fintech in Brief: SEC Staff Provides Additional Clarity on Digital Assets as Securities

Earlier this month, the Securities and Exchange Commission (“SEC”) provided additional guidance on digital assets, which include “tokens” and “coins.” The SEC’s Strategic Hub for Innovation and Financial Technology (“FinHub”)...more

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