On April 7, 2025, Deputy Attorney General Todd Blanche announced in a memorandum to all DOJ employees (the “Blanche Memorandum”) that the DOJ “will stop participating in regulation by prosecution” and “no longer pursue...more
On January 23, President Trump issued an EO, “Strengthening American Leadership in Digital Financial Technology.” The same day, the SEC published SAB 122 which rescinded the earlier staff interpretive guidance, SAB 121....more
On Aug. 7, the U.S. District Court for the Southern District of New York issued its judgment in U.S. Securities and Exchange Commission v. Ripple Labs, Inc., marking the end of district court- level proceedings in the highly...more
8/12/2024
/ Civil Monetary Penalty ,
Corporate Counsel ,
Cryptocurrency ,
Digital Assets ,
Enforcement Actions ,
Pending Litigation ,
Permanent Injunctions ,
Popular ,
Ripple ,
Securities Act of 1933 ,
Securities and Exchange Commission (SEC) ,
Securities Violations ,
Summary Judgment ,
Unregistered Securities
Background and Scope -
The Assessment was drafted by Treasury’s Office of Terrorist Financing and Financial Crimes (“TFFC”), in consultation with multiple U.S. agencies, including the Departments of Homeland Security,...more
As part of a coordinated effort with the U.S. Secretary of State, Attorney General, Secretary of Commerce, Secretary of Homeland Security, Director of the Office of Management and Budget, Director of National Intelligence,...more
10/17/2022
/ AML/CFT ,
Anti-Money Laundering ,
Anti-Terrorism Financing ,
Banking Sector ,
Biden Administration ,
Digital Assets ,
Executive Orders ,
FATF ,
Financial Transactions ,
Regulatory Reform ,
Risk Mitigation ,
Virtual Currency
On Sept. 16, 2022, the White House released a Fact Sheet providing key findings and action items arising from the nine reports addressing digital assets that have been submitted to the president to date consistent with the...more
9/23/2022
/ Biden Administration ,
Central Bank Digital Currency (CBDCs) ,
Cryptocurrency ,
Digital Assets ,
Environmental Protection Agency (EPA) ,
Executive Orders ,
Financial Services Industry ,
Financial Stability Board ,
Innovation ,
Non-Fungible Tokens (NFTs) ,
OECD ,
U.S. Commerce Department ,
U.S. Treasury
On March 9, 2022, President Joe Biden signed the Executive Order on Ensuring Responsible Development of Digital Assets (EO) and the White House released a corresponding fact sheet summarizing related key policy objectives. As...more
The Securities and Exchange Commission (“SEC”) recently issued a request for information and public comment on the use of new and emerging technologies by investment advisers and broker-dealers that suggests potential...more
In a speech before the Aspen Security Forum on August 3, 2021, Securities and Exchange Commission (“SEC” or “Commission”) Chair Gary Gensler urged lawmakers to provide him with the power to police cryptocurrency trading,...more
The Telegram case is arguably the most important case of 2020 involving the legal classification of blockchain-based digital assets. Because it is often cost-prohibitive for companies to challenge the government in court, the...more
On Sept. 30, the United States District Court for the Southern District of New York granted the U.S. Securities and Exchange Commission’s (SEC) motion for summary judgment against Kik Interactive Inc. (Kik) and denied Kik’s...more