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
On April 10, 2025, the SEC’s newly formed Crypto Task Force held the second of its promised series of roundtables in the SEC’s “Spring Sprint Toward Crypto Clarity” initiative. Titled “Between a Block and a Hard Place:...more
The VASP Act defines “Virtual Assets” as digital representations of value that can be digitally traded or transferred and can be used for payment or investment purposes. Digital representations of fiat currencies (which is...more
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
With the Presidential and Congressional transitions taking place this month, we expect increased investment and transactional activity in capital markets. This will likely include trading platforms, exchanges, clearinghouses,...more
In 2010, the so-called “Flash Crash” of the U.S. stock market brought the overlooked practice of high-frequency trading into the spotlight for the first time. Initial efforts to study and curtail the practice, including a...more
Japanese Crypto Exchange Goes Public in U.S., Stablecoin Initiatives Announced - According to recent reports, the parent company of Coincheck, one of Japan’s largest cryptocurrency exchanges, has gone public on a major...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
Following consultations earlier this year, the Virtual Asset (Service Providers) (Amendment) Bill, 2024 (the Bill) has been gazetted and represents a major milestone in enhancing the Cayman Islands’ regulatory landscape for...more
Key Points - - During its 2024 term, the U.S. Supreme Court is poised to provide important guidance on the Private Securities Litigation Reform Act’s (PSLRA’s) particularity requirement in NVIDIA Corp. v. E. Ohman J:or...more
There is a growing trend for large UK-based companies to consider exploring listings on US stock exchanges such as the New York Stock Exchange (NYSE) and NASDAQ, potentially at the expense of the London Stock Exchange plc...more
The SEC has charged a financial firm and its leaders for making false claims about using artificial intelligence (AI) in their automated trading process. This case highlights the critical need for transparency in an...more
On 29 October 2024, the Hong Kong District Court issued the judgment of the first legal action (Chan Wing Yan and Another v. JP-EX Crypto Asset Platform Ltd and Others [2024] HKDC 1628) against JPEX, which the Hong Kong...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
The Ontario Court of Appeal (the “Court”) in Lochan v. Binance Holdings Limited, 2024 ONCA 784, recently upheld a lower court decision dismissing a large cryptocurrency trading platform’s motion to stay a class proceeding in...more
The world’s first regulated private/public crossover market is significantly redesigned as a friction-free “private up” rather than “public down” market with rethought approach to disclosure and market abuse....more
Quick Take: The SEC recently settled charges against a registered broker-dealer for manipulating the U.S. Treasury cash securities market through a trading method known as spoofing and for failing to reasonably supervise the...more
The SEC has released its Examination Priorities: Fiscal Year 2025 (“Examination Priorities”), which may be a useful roadmap to SEC-registered investment advisers, exchanges, and other entities subject to routine examination...more
Crypto Integration Initiatives Continue, Crypto Exchange Data Published - According to a recent report, a major U.S. fintech company intends to purchase a stablecoin infrastructure provider. While the fintech company itself...more
What is the action cryptocurrency investors need to take immediately? What has changed, and why should any digital asset holder or investor pay attention to this game-changing development? Here is the short answer: If you...more
According to a recent press release by the banking cooperative that operates the world’s foremost global payment messaging network, central and commercial banks will soon be able to use the network “to carry out trial...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
This monthly bulletin is designed to help companies identify important legal developments governing the use and acceptance of blockchain technology, smart contracts, and digital assets....more
Pig Butchering Crypto Scams are scams which resemble the practice of fattening a hog before slaughter....more