News & Analysis as of

Cryptocurrency Today's Popular Updates Commodities Futures Trading Commission

Katten Muchin Rosenman LLP

Bitnomial Exchange Sues SEC, Challenging Agency's Authority Over XRP Futures

Bitnomial Exchange, LLC (Bitnomial), a designated contract market (DCM) registered with the Commodity Futures Trading Commission (CFTC), has launched a legal offensive against the US Securities and Exchange Commission (SEC),...more

BakerHostetler

Weekly Blockchain Blog - July 2024 #3

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Stablecoin Demand Increases with Initiatives Announced in Germany, Hong Kong - Recent reports highlight an increasing demand for stablecoins. According to one report, the market cap of the PYUSD stablecoin recently...more

Sullivan & Worcester

Taking Steps Toward Federal Blockchain and Cryptocurrency Regulation

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On May 22, 2024, with bi-partisan support, the U.S. House of Representatives passed H.R. 4763, the Financial Innovation and Technology for the 21st Century Act (“FIT21”), becoming the first major cryptocurrency legislation to...more

White & Case LLP

The Shadow Financial System

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The concept of the shadow financial system rose to international prominence in the aftermath of the 9/11 terrorist attacks. In an interview with a Pakistani newspaper a month later, Osama bin Laden stated that Al Qaeda were...more

Braumiller Law Group, PLLC

Hot Topics in International Trade - June 2024 - Recent Developments in Digital Assets Policy

Digital assets, including blockchain and cryptocurrency protocols and companies, have been in a defensive posture for much of 2022, 2023 and 2024. The collapse of crypto exchange FTX and numerous enforcement actions taken by...more

Manatt, Phelps & Phillips, LLP

House Passes Cryptocurrency Bill Promising Regulatory Clarity

After many iterations over the years attempting to regulate the cryptocurrency space, the House of Representatives passed the Financial Innovation and Technology for the 21st Century Act, or FIT21 Act, on May 22, 20241.  The...more

A&O Shearman

House passes Financial Innovation and Technology for the 21st Century Act

A&O Shearman on

On May 22, 2024, the U.S. House of Representatives (the “House”) passed the Financial Innovation and Technology for the 21st Century Act (“FIT21” or the “Bill”) with bipartisan support by a vote of 279-136. FIT21 provides for...more

Dechert LLP

A Good Fit for Crypto? The House Passes FIT21

Dechert LLP on

The United States House of Representatives voted 279-136 to pass the Financial Innovation and Technology for the 21st Century Act (“FIT21”), on Wednesday, May 22, 2024. FIT21 is the first crypto-related legislation to clear...more

Troutman Pepper

Troutman Pepper Weekly Consumer Financial Services Newsletter - May 2024 # 3

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To keep you informed of recent activities, below are several of the most significant federal and state events that have influenced the Consumer Financial Services industry over the past week...more

Cadwalader, Wickersham & Taft LLP

Groundbreaking and Informative – CFTC’s KuCoin Complaint

On March 26, 2024, the U.S. Commodity Futures Trading Commission (“CFTC”) filed a complaint (the “Complaint”) in the U.S. District Court for the Southern District of New York (“SDNY”) for injunctive and other relief against...more

Ballard Spahr LLP

KuCoin and Founders Charged with Operating Illegally as Money Transmitter and Futures Commission Merchant

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Last week, the United States Attorney’s Office for the Southern District of New York unsealed an indictment against global cryptocurrency exchange KuCoin and two of its founders, Chun Gan and Ke Tang, for allegedly conspiring...more

BakerHostetler

Weekly Blockchain Blog - April 2024

BakerHostetler on

Crypto Product News: BTC/ETH ETNs, Custody, Insurance, Tokenized Treasuries - The London Stock Exchange (LSE) recently published a market notice addressing applications for Bitcoin and Ether exchange traded notes (ETNs),...more

Wilson Sonsini Goodrich & Rosati

Fintech in Brief: Trends to Watch in 2024

Where will the fintech industry head in 2024? Our fintech and financial services partners make a few predictions below....more

The Volkov Law Group

DOJ Reaches Groundbreaking Criminal Settlement with Cryptocurrency Exchange Binance and CEO Changpeng Zhao (Part I of III)

The Volkov Law Group on

On November 21, 2023, The U.S. Department of Justice (“DOJ”) announced settlement agreements with Binance Holdings Limited (“Binance”), the world’s largest cryptocurrency exchange, and Changpeng Zhao (affectionally known as...more

King & Spalding

Cryptocurrency Exchange Binance and its Founder Plead Guilty to Money Laundering Charges

King & Spalding on

AML Developments - What You Need to Know - On November 21, 2023, the U.S. Justice Department unsealed charges against cryptocurrency exchange Binance and Binance CEO Changpeng Zhao for violating anti-money laundering...more

BakerHostetler

New Crypto Initiatives Launch; California Governor Signs Digital Financial Assets Law; Bank Regulators Address Crypto Risks;...

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Financial Firm Completes CBDC Pilot; Exchanges Launch P2P Trading Platform - A major U.S. financial services firm recently published a press release announcing that it has “successfully demonstrated capabilities of a new...more

Pollock Cohen LLP

Financial Frauds 101 Overview: What’s a Security? What’s a Commodity? Which Whistleblower Program Applies?

Pollock Cohen LLP on

There should be a short answer to the question of which whistleblower program applies in which situation. And sometimes there is; but not always. Securities (like stocks) are regulated by the SEC (Securities and Exchange...more

BakerHostetler

Crypto Custody Services Expand; CFTC Enforcement Targets DeFi, SEC Targets NFTs; FinCEN Warns of Crypto Scams; Major Hacks Steal...

BakerHostetler on

Financial Services Firms Expand Cryptocurrency Custody Services - According to recent reports, the cryptocurrency custody arm of a major international bank has launched its institutional cryptocurrency custody services in...more

A&O Shearman

DeFi protocol Uniswap and investors avoid suit for fraudulent activity on digital asset exchange

A&O Shearman on

On August 30, 2023, in a case of first impression, the U.S. District Court for the Southern District of New York dismissed in full a putative securities class action against Uniswap Labs, a decentralized finance (“DeFi”)...more

Wiley Rein LLP

The FTC Is Targeting Crypto Too - With a Significant New Enforcement Action

Wiley Rein LLP on

Last week the Federal Trade Commission (FTC) joined the Securities Exchange Commission (SEC) and Commodity Futures Trading Commission (CFTC) in bringing charges and announcing settlements with the now-bankrupt cryptocurrency...more

Manatt, Phelps & Phillips, LLP

Blockchain Update: Lummis-Gillibrand Crypto Regulation Bill Reintroduced Following Tumultuous Year

Sens. Cynthia Lummis (R. Wyo.) and Kristen Gillibrand (D. N.Y.) have reintroduced their landmark bipartisan crypto bill known as the Lummis-Gillibrand Responsible Financial Innovation Act (“Lummis-Gillibrand Act” or “LG...more

BakerHostetler

Crypto Firms Expand Offerings; FATF Publishes Virtual Assets Update; CFTC Continues Crypto Enforcement; Israeli Agency Seizes...

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Crypto Firms Expand Offerings in Stablecoins, Private Key Management - The issuer of the Pax Dollar (USDP) stablecoin recently announced that USDP is now available to all Mexican customers of a major Latin American online...more

BakerHostetler

CBDC Initiatives Advance in Colombia, Hong Kong; DOJ Charges Defendants in Mt. Gox Hack, BTC-e; CFTC Wins Ooki DAO Case; Crypto...

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CBDC Initiatives Advance in Colombia and Hong Kong - According to a recent press release, a major U.S. fintech company and “leader in enterprise blockchain and crypto solutions” has announced a collaboration with Colombia’s...more

BakerHostetler

Fintech Firms Launch New Products; Crypto Guidance Published by CFTC, EBA, UAE; OFAC Adds Public Keys to SDN List; CFTC, NY AG...

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Crypto Firms Announce New Product Launches in Custody, Stablecoins, Wallets - According to a recent press release, Prometheum Capital has received the first-ever approval from the Financial Industry Regulation Authority...more

BakerHostetler

New Crypto Payment and Web3 Products Launch; UK Seeks Input on DeFi Taxation; OFAC Fines Crypto Exchange; SEC, DOJ, CFTC Continue...

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Multiple Financial Services Firms Announce New Crypto Products - A major U.S. financial services firm recently launched its Crypto Credential product, “a set of common standards and infrastructure that will help verify...more

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