Crypto and Web3 Firms Announce Fintech Integrations - A major U.S. fintech firm recently announced a product integration with MoonPay, a Web3 infrastructure company, “that allows MoonPay users in the U.S. to seamlessly buy...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 February 7, the SEC and DFPI announced charges against a Florida-based crypto platform, for failing to register the offer and sale of a crypto lending product that allowed U.S. investors to deposit or purchase crypto...more
In November 2023, almost 11,000 cryptocurrencies and digital tokens were listed on CoinMarketCaps.com. In addition, tens of thousands of non-fungible tokens (NFTs) are sold daily on various crypto exchanges and NFT platforms....more
This fall, the Canadian Securities Administrators (“CSA”) released CSA Staff Notice 21-333 Crypto Asset Trading Platforms: Terms and Conditions for Trading Value-referenced Crypto Assets with Clients (the “Staff Notice”) to...more
The Ontario Securities Commission (“OSC”) recently proposed amendments (the “Proposed Amendments”) to OSC Rule 13-502 Fees and OSC Rule 13-503 (Commodity Futures Act) Fees (together, the “Fee Rules”) that would introduce two...more
On November 20, the SEC filed a complaint in the U.S. District Court of the Northern District of California against a crypto trading platform, which allows customers to buy and sell crypto assets through an online market, for...more
The same day that the U.S. District Court for the Southern District of New York (SDNY) in SEC v. Ripple Labs, Inc. denied the SEC's request for an interlocutory appeal of the bombshell summary judgment ruling in the case, the...more
Revamped SFC and HKMA guidance applies to intermediaries that distribute products or provide dealing, advisory, and asset management services related to virtual assets. On 20 October 2023, the Hong Kong Monetary...more
On October 19, the Securities and Exchange Commission (SEC) dismissed its claims against Ripple Labs, Inc. (Ripple) executives Bradley Garlinghouse and Christian Larsen for allegedly aiding and abetting Ripple’s violations of...more
On August 9, the Securities and Exchange Commission (SEC) sent a letter to U.S. District Judge Analisa Torres requesting leave to file an interlocutory appeal in SEC v. Ripple Labs, Inc. as to the two adverse liability...more
Specifically, the SEC wants a change to persuade the U.S. Court of Appeals for the Second Circuit – now, not later – of its view that Torres got it wrong when she determined that the company's offer and sale of its XRP token...more
On July 31, the SEC filed a complaint in the U.S. District Court for the Eastern District of New York against three cryptocurrency trading platforms and their founder for allegedly conducting unregistered offerings of crypto...more
Under the helm of SEC Chairman Gary Gensler, the Securities and Exchange Commission has argued that many cryptocurrencies qualify as “securities” under federal law, and therefore fall within the SEC’s bailiwick....more
The UK Financial Conduct Authority (FCA) has published its policy statement PS23/11 (PS), containing final guidance (the guidance) on trading venues. A firm requires trading venue authorisation from the FCA if it operates...more
In the span of two days, June 5 and June 6, 2023, the US Securities and Exchange Commission (SEC) commenced proceedings against the largest crypto asset exchange in the world, Binance.com; its affiliated US exchange,...more
On February 22, 2023, the Canadian Securities Administrators (CSA) released Staff Notice 21-332 (SN 21-332), which introduces enhanced pre-registration requirements that apply to unregistered crypto-asset trading platforms...more
On February 22, 2023, the Canadian Securities Administrators (CSA) published CSA Staff Notice 21-332 Crypto Asset Trading Platforms: Pre-Registration Undertakings – Changes to Enhance Canadian Investor Protection (the Staff...more
À la suite des perturbations majeures survenues récemment dans le secteur des cryptoactifs, les organismes canadiens de réglementation en valeurs mobilières ont une fois de plus resserré l’étau autour des plateformes de...more
New ERC-4337 Smart Contract Standard Released to Enhance Wallet Security - According to reports, Ethereum has deployed a new feature known as “account abstraction,” which has been in development for two years and can “make...more
In the aftermath of recent major disruptions in the crypto industry, securities regulators in Canada have again raised the bar for unregistered crypto asset trading platforms (CTPs) operating in Canada. In the latest of...more
Mango Markets is a decentralized cryptocurrency exchange that allows users to purchase and borrow cryptocurrencies and cryptocurrency-related financial products. Mango Markets is run by the Mango Decentralized Autonomous...more
The United Kingdom HM Treasury (“HMT”) on 1 February 2023 launched its first consultation on the future regulatory regime for cryptoassets (the “Cryptoassets Consultation”). At the same time, it also published a response to...more
Like Zeus unleashing the Kraken in Clash of the Titans, the U.S. Securities and Exchange Commission (SEC) has unleashed the Kraken (not the digital asset company) to unleash havoc on Genesis Global Capital LLC (Genesis) and...more
It is no secret that over the last several years, there has been an exponential increase in the utilization of blockchain and digital assets. Crypto trading and lending platforms have grown rapidly and the total crypto market...more