On January 28, 2026, staff of the SEC Divisions of Corporation Finance, Investment Management, and Trading and Markets issued a joint statement on tokenized securities addressing different approaches they have observed to...more
The UK Financial Conduct Authority (FCA) has published a statement following its November 2025 update on the bond consolidated tape provider (CTP) contract. It has now signed a contract with Etrading Software (ETS) to act as...more
On 29 January 2026, Katten sponsored the London Tokenisation Summit (TOK26) in London, bringing together leading voices in digital assets and tokenisation. Chris Collins, a partner in our London Financial Markets and...more
Unlike traditional sportsbooks, regulated platforms operate under Commodity Exchange Act and US Commodity Futures Trade Commission (CFTC) rules for derivative products, appealing to institutional players and retail traders...more
On December 10, 2025, Gemini Space Station, Inc. (NASDAQ:GEMI) announced that the Commodity Futures Trading Commission (“CFTC”) approved the registration of its subsidiary—Gemini Titan, LLC—as a Designated Contract Market...more
The European Securities and Markets Authority (ESMA) has announced the launch of its first selection procedure for a consolidated tape provider (CTP) for over-the-counter (OTC) derivatives. ESMA encourages interested entities...more
Popular prediction markets platforms recently announced that they have formed the Coalition for Prediction Markets. According to the coalition’s website, it aims to unite exchanges, brokers, and advocates to expand consumer...more
On December 4, 2025, the Commodity Futures Trading Commission (CFTC) announced the upcoming launch of the first leveraged spot cryptocurrency product to be listed on a CFTC-regulated exchange, Bitnomial Exchange, LLC...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
In 2025, applications and inquiries to register with the Commodity Futures Trading Commission (CFTC or Commission) as a derivatives exchange have noticeably increased, with several companies pursuing or obtaining a CFTC...more
With the government shutdown ending, federal agencies, including the CFTC and SEC, are resuming operations and making further progress on crypto-related policy. On Capitol Hill, the Senate Agriculture Committee released a...more
On September 8, 2025, Nasdaq submitted a first-of-its-kind application to the Securities and Exchange Commission (SEC) to amend Nasdaq rules to permit the trading of tokenized securities alongside traditional, non-tokenized...more
Our Investment Funds Team outlines key takeaways from Commodity Futures Trading Commission’s (CFTC) Staff Advisory 25-36 that offers guidance to trading platforms and investment managers involved in sports-related event...more
The Texas Stock Exchange (TXSE), based in Dallas, Texas, has received approval from the Securities and Exchange Commission to operate as an exchange, with plans to begin listing shares in 2026. TXSE was created to reduce...more
On September 2, 2025, the Divisions issued a joint statement announcing a cross-agency initiative to coordinate efforts regarding the process for enabling the trading of certain spot crypto asset products. This initiative is...more
On August 28, 2025, the staff of the Division of Market Oversight (CFTC Staff) of the Commodity Futures Trading Commission (CFTC) issued Staff Advisory Letter No. 25–27 (Staff Advisory). The Staff Advisory reaffirms and...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
Amid “recent confusion and disruption regarding whether non-US exchanges should register [with the Commodity Futures Trading Commission (CFTC or Commission)] as a designated contract market (DCM) or [foreign board of trade...more
What is PISCES? The Private Intermittent Securities and Capital Exchange System (PISCES) is a UK government–backed initiative designed to enable private companies to offer and trade their existing shares in a controlled,...more
The Cayman Islands Government has taken a significant step in the regulation of virtual asset service providers (VASPs) with the commencement of the licensing regime under the Virtual Asset (Service Providers) Act (as...more
In recent years, the virtual asset industry has experienced exponential growth, bringing about innovations in digital payments, tokenisation and decentralised finance (Defi). While highly innovative, the volatile nature of...more
Introduction - On 6 February 2024, the US Securities and Exchange Commission (SEC) voted 3-2 to adopt two new rules that significantly expand the definitions of a “dealer” and “government securities dealer” in Sections...more
On August 1, 2022, the New York Department of Financial Services (“DFS” or the “Department”) secured its first enforcement win against a cryptocurrency platform, Robinhood’s crypto trading arm Robinhood Crypto, LLC....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
In April, we continued to see a steady pace in the seriousness and frequency of crypto enforcement actions by state and federal law enforcement. (See our March 2022 Crypto Enforcement Actions Roundup blog here where we...more