According to crypto platform Kraken, the aggregate market cap for all meme coins is over $70 billion. Five meme coins would be considered unicorns (market cap over $1 billion) if they were startups. Dogecoin’s market cap is...more
White & Case has supported UK Finance and the Association for Financial Markets in Europe ("AFME") on their joint response to the Financial Conduct Authority's ("FCA") consultation on the private intermittent securities and...more
The U.K. Financial Conduct Authority has published a new direction for the U.K. derivatives trading obligation, together with an explanatory memorandum. The FCA's existing direction modifying the U.K. DTO using its Temporary...more
On 14 November 2024, Chancellor Rachel Reeves delivered her inaugural Mansion House 2024 speech, announcing a collection of reforms designed to drive growth and competitiveness in the financial services sector....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
On May 1, NYDFS settled with a cryptocurrency trading platform over the company’s cybersecurity deficiencies, resulting in a consent order and $1.2 million fine for the crypto company. NYDFS alleged “multiple deficiencies in...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
OMB official Kathleen Kraninger is likely to face serious questions as she takes to the Hill today to begin confirmation hearings for her surprise nomination to lead the Consumer Financial Protection Bureau. Why? Her lack of...more
If the White House gets its way, Richard Cordray and the CFPB (and many other current Wall Street regulators and regulations) would be virtually unrecognizable as compared to their current form....more