News & Analysis as of May 10, 2025

Digital Assets

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Virtual Currency (aka Digital Currency or Digital Money) is a type of currency or medium of exchange that is not issued by any government nor guaranteed by a government currency. Despite lacking legal tender status, Virtual Currency is still traded and exchanged in some environments, typically online environments or communities. Bitcoin is the most well-known form of Virtual Currency. less -

Regulatory Update: Cayman Islands VASP Licensing Regime Now in Effect

Conyers on 4/23/2025

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

GLI Cayman Islands blockchain and cryptocurrency regulation 2025, seventh edition

Carey Olsen on 1/7/2025

Regulatory clarity in the digital assets and crypto space continues to be a moving target. Yet, the interest among policymakers and regulators worldwide has never been more pronounced. In the United States, 2024 was a pivotal...more

NFT Legal Issues

Sheppard Mullin Richter & Hampton LLP on 1/2/2025

This year, the SEC has ramped up its enforcement efforts against digital asset marketplaces for selling non-fungible tokens (“NFTs”) (and other digital assets) the agency alleges are securities. In response, some potential...more

The Importance of Sound Corporate Governance for Virtual Asset Service Providers: Lessons from Past Failures

Conyers on 10/3/2024

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

CryptoLink - June 2023

Akin Gump Strauss Hauer & Feld LLP on 7/6/2023

CryptoLink is a compilation of news stories published by outside organizations. Akin aggregates these stories, but the information contained in them does not necessarily represent the beliefs or opinions of the firm. Akin's...more

Blockchain+ Bi-Weekly - June 2023 #2

Polsinelli on 6/30/2023

The Blockchain Bi-Weekly presented by the Polsinelli Blockchain+ team is a rundown of some of the key stories in the Web3, blockchain and crypto ecosystems curated by our attorneys navigating the intersections of code, smart...more

First Attempt to Regulate Spot Digital Asset Activities

Cadwalader, Wickersham & Taft LLP on 4/6/2023

On March 29, the National Futures Association (“NFA”) promulgated Compliance Rule 2-51, setting forth Requirements for Members and Associates Engaged in Activities Involving Digital Asset Commodities, which includes both...more

The Distributed Ledger: Blockchain, Digital Assets and Smart Contracts

Skadden, Arps, Slate, Meagher & Flom LLP on 8/25/2022

A flurry of legal and enforcement activity has arisen over the last two weeks across a wide range of areas in the Web3 space, including actions by the Securities and Exchange Commission, the Office of Foreign Assets Control,...more

All About Web3: The Regulatory Outlook for Cryptocurrency

WilmerHale on 8/11/2022

Cryptocurrency continues to dominate the headlines, from starting the year at a high with major TV ads to questions in recent weeks about the stability of the market. In this episode of In the Public Interest, co-host and...more

U.S. Government Steps Up Its Enforcement in the Digital Assets Space

Alston & Bird on 5/26/2022

Our Blockchain & Digital Assets Team offers a snapshot sample of significant recent developments by a panoply of federal agencies and departments that represent the expanding array of enforcement tools used by federal...more

California Governor Orders Agencies to Create Transparent Regulatory Framework for Blockchain and Digital Assets

Jones Day on 5/11/2022

California's governor issued an executive order requiring state agencies, led by the Department of Financial Protection and Innovation, to create a "transparent" regulatory framework for blockchain technologies and digital...more

Crypto at Quantico: New FBI Cryptocurrency Unit Adds to Growing U.S. Criminal Enforcement Measures

Nelson Mullins Riley & Scarborough LLP on 2/22/2022

Speaking at last week’s Munich Cyber Security Conference, U.S. Deputy Attorney General Lisa Monaco announced the formation of a new FBI unit dedicated to blockchain analysis and virtual asset seizure – the Virtual Asset...more

Virtual "Currencies": Not actual currencies

White & Case LLP on 2/17/2022

As with any new phenomenon, the rise of digital assets has created a new lexicon. "Blockchain," "tokens," and "coins" are now household vocabulary. Central to the discussion are a set of assets generally classified as...more

Cryptocurrency Primer

Bilzin Sumberg on 1/26/2022

We’ve previously written about the push for greater regulation of digital currency and a growing number of lawsuits targeting cryptocurrency companies and their celebrity endorsers. Notwithstanding cryptocurrencies’...more

Pre-Enforcement Challenges—A Vital Tool for Regulated Parties in the United States

Jones Day on 12/13/2021

The digital asset industry has now met the regulatory state. Those interested in building digital asset businesses that operate in the United States thus need to be aware of a vital tool for resisting regulatory overreach by...more

US Financial Regulators Release Much-Anticipated Report on Stablecoins

Mayer Brown Free Writings + Perspectives on 11/12/2021

On November 1, 2021, the President’s Working Group on Financial Markets (PWG) released its much-anticipated Report on Stablecoins (Report). The Federal Deposit Insurance Corporation (FDIC) and the Office of the Comptroller of...more

NYAG’s Warning to Crypto Businesses Muddies Regulatory Waters

Sheppard Mullin Richter & Hampton LLP on 11/11/2021

New York’s chief law enforcement agency recently squandered an opportunity to bring much needed guidance to the digital assets space. On October 18, the Office of New York Attorney General Letitia James (“NYAG”) issued a...more

Updated Guidance from the FATF Regarding a Risk-Based Approach for Virtual Assets and Virtual Asset Service Providers

Polsinelli on 11/2/2021

On October 28, 2021, The Financial Action Task Force (FATF), an inter-governmental body that sets international standards with an aim to prevent global money laundering and terrorist financing, released updated guidance...more

China Bans Crypto Currencies and Related Services

Burr & Forman on 9/24/2021

The People’s Bank of China (“PBOC”) announced this morning that it is banning crypto currencies and related services, including “trading, order matching, token issuance and derivatives for virtual currencies are strictly...more

Digital Asset SEC Timeline - Update September 2021

Perkins Coie on 9/17/2021

The Digital Asset SEC Timeline serves as an interactive compilation of select SEC guidance, enforcement actions, and speeches relating to the application of the federal securities laws to digital assets. Beginning with the...more

Cryptocurrency disputes: five things every litigant should know

Hogan Lovells on 5/19/2021

In December 2020, the World Economic Forum reported that “cryptocurrencies have reached a point of inevitability”. In some business circles, the hype has been enormous with Jack Dorsey, the CEO of Twitter, having predicted...more

House of Pay’n – House Passes Bill to Help Create Legal Framework for Digital Asset Regulation

Polsinelli on 4/28/2021

On Tuesday, April 20, 2021, the House of Representatives passed the Eliminate Barriers to Innovation Act of 2021 (the “Act”). The Act was initially introduced in March with an overarching aim to clarify the roles of the...more

Regulatory Considerations for New Iterations in the Crypto and Digital Asset Space

BCLP on 4/9/2021

Recent news coverage has highlighted two potentially watershed moments in the FinTech revolution: the rise of Decentralized Finance (“DeFi”) that challenges both traditional FinTechs and legacy financial institutions alike,...more

What 2021 Has in Store for Stablecoin

Morgan Lewis on 1/12/2021

The year 2020 won’t soon be forgotten. Despite the challenges that the COVID-19 pandemic presented on a global scale, 2020 ushered in new ways of thinking about stablecoin, a type of cryptocurrency that attempts to peg its...more

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

Skadden, Arps, Slate, Meagher & Flom LLP on 10/31/2020

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

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