Following the UK Financial Conduct Authority's (FCA) decision to lift its 4-year ban on 8 October 2025 on offering cryptoasset-backed exchange-traded notes (cETNs) to retail investors in the UK, a steady stream of market...more
Crypto is an extraordinary growth market with profound implications for foreign investment in the United States. The current U.S. administration has made a clear, specific, and demonstrable commitment toward development of...more
The Commodity Futures Trading Commission (CFTC) approved a plan submitted by commodities futures trading platform Polymarket to resume limited U.S. operations through a registered intermediary. The approval permits the...more
Since January, the U.S. federal regulatory landscape for digital assets has undergone a legislative and regulatory sea change. Major milestones include the passage of the GENIUS Act, which establishes a federal regulatory...more
Securities regulators signaled an openness to “innovation exemptions” allowing U.S. perpetual contracts and leveraged crypto markets to become competitive with offshore markets....more
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
We highlighted in a recent post regulators’ clear intentions to bring greater order to the cryptocurrency industry this year. The last three weeks have demonstrated that private litigants are not waiting on regulators to rein...more
THE CHALLENGE: In the emerging cryptocurrency space, most investors store their assets in digital wallets, where—unlike traditional bank accounts—they earn no interest. In the last few years, cryptocurrency investors have...more
Crypto-asset trading is a fast-growing part of the financial sector. Some countries have wholeheartedly embraced crypto-assets; others have been reticent to permit widespread adoption. Generally, countries have interpreted...more
On September 30, 2019, the Securities and Exchange Commission announced that blockchain developer Block.one had agreed to pay a $24 million fine to settle charges that it had engaged in an unregistered offering of securities...more
Talks between General Motors and the striking UAW broke down yesterday, threatening the progress the two sides “appeared to make in recent days,” a troubling sign as the strike heads into its 4th week....more
As part of its Virtual Markets Integrity Initiative, on September 18, 2018, the New York Attorney General’s Office issued a report reviewing the platforms of various cryptocurrency exchanges. ...more
Hester Peirce Remarks at Cato Institute Conference - Hester Peirce made remarks at the Cato Institute’s Fintech Unbound conference on September 12, 2018. Commissioner Peirce commented that securities regulators are too risk...more
This is Part 3 of a seven-part series of posts looking at some broad legal issues affecting crypto-currencies. ...more
The cryptocurrency market is exciting to watch. Based on the revolutionary blockchain distributed ledger system, cryptocurrencies have exploded on the marketplace. As with any new “gold rush” to hit a market, cryptocurrency...more
While many traditional financial institutions hesitate to embrace cryptocurrencies such as bitcoin, a recent news report suggests that Fidelity Investments, the fourth largest U.S. asset manager, is looking to enter the fray....more
On April 17, 2018, the New York Attorney General’s Office (“OAG”) launched a Virtual Markets Integrity Initiative and sent letters to thirteen cryptoasset trading platforms requesting, through a questionnaire, disclosures on...more
Competition law questions are increasingly raised in the public debate about the blockchain technology. While there is yet to be any investigation in this field, the policy debate about applying competition law instruments to...more
On Feb. 6, Jay Clayton and Christopher Giancarlo, the chairmen of the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC), respectively, jointly testified before the Senate Banking...more
Based on how 2017 ended, entities and individuals in the crypto-currency markets should expect increased scrutiny from the United States Securities and Exchange Commission (“SEC”) in 2018. The SEC’s Cyber Unit commenced its...more
Bitcoin futures started trading yesterday for the first time prompting concerns about the volatility of the cryptocurrency that prompted several exchange outages due to 10%+ swings in its price as well as heavy website...more
Lyft, armed with a fresh billion from Google’s venture investment arm (CapitalG), is looking seriously at a 2018 IPO. The CapG money raises Lyft’s valuation from $6.9 billion to more than $10 billion....more
Social Reality, Inc. (NASDAQ:SRAX) discussed its plans for an initial coin offering with analysts on October 17, 2017. Its stock closed up 70% on the news....more