On May 29, 2025, the Staff of the Division of Corporation Finance (the “Staff”) of the U.S. Securities and Exchange Commission (SEC) issued a statement[1] (the “Staking Statement”) concluding that certain protocol staking...more
6/10/2025
/ Blockchain ,
Cryptoassets ,
Cryptocurrency ,
Digital Assets ,
Howey ,
Investment Contract ,
New Guidance ,
Offerings ,
Regulatory Reform ,
Securities and Exchange Commission (SEC) ,
Securities Regulation
On May 15, 2025, the Division of Trading and Markets (the “Division”) of the U.S. Securities and Exchange Commission (SEC) and the Office of General Counsel of the Financial Industry Regulatory Authority, Inc. (FINRA)...more
On May 8, 2025, SEC Commissioner Hester Peirce delivered a speech at the SEC’s 31st International Institute for Securities Market Growth and Development in Washington, D.C. In her speech, Commissioner Peirce underscored the...more
Each week of the first 100 days of the new Trump administration, we will publish updates on key federal financial services regulatory and related developments. This week, we review the following developments as of Wednesday:...more
Each week of the first 100 days of the new Trump administration, we will publish updates on key federal financial services regulatory and related developments. This week, we review the following developments as of Wednesday:...more
Each week of the first 100 days of the new Trump administration, we will publish updates on key federal financial services regulatory and related developments. This week, we review the following developments as of Wednesday:...more
On April 4, 2025, the staff of the U.S. Securities and Exchange Commission (SEC or “Commission”) Division of Corporation Finance (“Staff”) issued a statement on stablecoins (the “Stablecoin Statement”), outlining the Staff’s...more
4/9/2025
/ Cryptoassets ,
Digital Assets ,
Enforcement Actions ,
Financial Markets ,
Howey ,
Investment Contract ,
Popular ,
Regulatory Requirements ,
Securities and Exchange Commission (SEC) ,
Securities Regulation ,
Stablecoins
On April 1, 2025, the House Financial Services Committee issued a press release regarding a number of Committee requests to various federal agencies for rescission, modification, or re-proposal of specific Biden...more
On March 26, 2025, the House Financial Services Committee Subcommittee on Financial Institutions held a hearing, entitled “A New Era for the CFPB: Balancing Power and Reprioritizing Consumer Protections.”...more
On March 14, 2025, a judge in the U.S. District Court for the District of Maryland declined to grant a temporary injunction to the City of Baltimore and the Economic Action Maryland Fund. The plaintiffs had requested an...more
3/21/2025
/ Bank Secrecy Act ,
Consumer Financial Products ,
Consumer Financial Protection Bureau (CFPB) ,
Enforcement Actions ,
FDIC ,
Federal Reserve ,
Financial Regulatory Reform ,
FinTech ,
Military Lending Act ,
OCC ,
Regulatory Agenda ,
Stablecoins
Each week of the first 100 days of the new Trump administration, we will publish updates on key federal financial services regulatory and related developments. This week, we review the following developments as of Wednesday:...more
Each week of the first 100 days of the new Trump administration, we will publish updates on key federal financial services regulatory and related developments.
This week, we review the following developments as of Wednesday:...more
On February 27, 2025, the staff of the Securities and Exchange Commission’s Division of Corporate Finance (the “staff”) released its views on “meme coins,” stating that under certain circumstances, the offer and sale of “meme...more
As generative artificial intelligence (Gen AI) tools rapidly evolve in 2025, FINRA member broker-dealers will be presented with both promising opportunities for investors and challenges in satisfying regulatory obligations....more
On February 20, 2025, House Majority Leader Steve Scalise (R-La.) issued a list of priority regulatory targets for nullification under the CRA “in the coming weeks.” Included on the list is the CFPB’s December 10, 2024 final...more
On February 18, 2025, President Trump signed an Executive Order designed to reduce the power of federal independent agencies by bringing them under the purview of the White House. The Executive Order provides that it applies...more
2/21/2025
/ Congressional Review Act ,
Consumer Financial Protection Bureau (CFPB) ,
CRA ,
Executive Orders ,
Federal Reserve ,
Financial Institutions ,
Financial Regulatory Reform ,
Financial Services Industry ,
Regulation Z ,
Regulatory Reform ,
Stablecoins ,
Trump Administration
On February 7, 2025, newly confirmed Office of Management and Budget (OMB) director Russell Vought replaced Treasury Secretary Scott Bessent as acting director of the CFPB....more
2/14/2025
/ CFTC ,
Consumer Financial Protection Bureau (CFPB) ,
Cryptocurrency ,
Enforcement Actions ,
Federal Funding ,
Federal Reserve ,
Financial Institutions ,
Financial Regulatory Reform ,
Financial Services Industry ,
OMB ,
Regulatory Agenda
Each week of the first 100 days of the new Trump Administration, we will publish updates on key federal financial services regulatory and related developments. This week, we review the following developments as of Wednesday:...more
2/7/2025
/ Banking Sector ,
Consumer Financial Protection Bureau (CFPB) ,
Cryptocurrency ,
Digital Assets ,
Enforcement Actions ,
FDIC ,
Financial Institutions ,
Financial Regulatory Reform ,
Financial Services Industry ,
FinTech ,
Government Efficiency ,
Regulatory Agenda ,
Securities and Exchange Commission (SEC) ,
Trump Administration
Each week of the first 100 days of the new Trump Administration, we will publish updates on key federal financial services regulatory and related developments. This week, we review the following developments as of Wednesday:...more
2/3/2025
/ Artificial Intelligence ,
Central Bank Digital Currency (CBDCs) ,
Cryptocurrency ,
Digital Assets ,
Executive Orders ,
Financial Regulatory Reform ,
FinTech ,
OMB ,
Regulatory Freeze ,
Secretary of the Treasury ,
Securities and Exchange Commission (SEC) ,
Senate Confirmation Hearings ,
U.S. Treasury
The establishment by the Securities and Exchange Commission (SEC) of a Crypto Task Force and the issuance by President Trump of an executive order entitled “Strengthening American Leadership in Digital Financial Technology”...more
1/29/2025
/ Central Bank Digital Currency (CBDCs) ,
CFTC ,
Cryptoassets ,
Cryptocurrency ,
Digital Assets ,
Digital Currency ,
Disclosure Requirements ,
Executive Orders ,
Financial Regulatory Reform ,
FinTech ,
Regulatory Agenda ,
Securities and Exchange Commission (SEC)
On January 20, 2025, President Trump issued a Regulatory Freeze Pending Review (“Regulatory Freeze”) that applies to all executive departments and agencies. The Regulatory Freeze prohibits the proposal or issuance of any rule...more
1/27/2025
/ Artificial Intelligence ,
CFTC ,
Consumer Financial Protection Bureau (CFPB) ,
Cryptocurrency ,
Digital Assets ,
Executive Orders ,
FDIC ,
Financial Services Industry ,
Hiring Freeze ,
Regulatory Freeze ,
Regulatory Reform ,
Rescission ,
Securities and Exchange Commission (SEC) ,
Trump Administration
On December 5, 2024, the U.S. Commodity Futures Trading Commission’s (“CFTC”) Divisions of Clearing and Risk, Data, Market Oversight, and Market Participants (together, the “Divisions”) issued a staff advisory (the...more
On Thursday, in two separate decisions, a federal district court in Texas struck down the U.S. Securities and Exchange Commission (SEC) rule that expanded the definition of “dealer” to include proprietary traders and some...more
11/22/2024
/ Blockchain ,
Broker-Dealer ,
Cryptocurrency ,
Federal Court Litigation ,
Hedge Funds ,
Investment Management ,
Lack of Authority ,
Securities and Exchange Commission (SEC) ,
Securities Dealers ,
Securities Traders ,
Texas ,
Vacated
On October 21, 2024, the U.S. Securities and Exchange Commission’s (“SEC”) Division of Examinations (“EXAMS”) announced its 2025 Examination Priorities (the “2025 Priorities”), highlighting areas that it expects to target...more
11/4/2024
/ Artificial Intelligence ,
Compliance ,
Cryptocurrency ,
Cybersecurity ,
Investment Adviser ,
Popular ,
Private Funds ,
Registered Investment Advisors ,
Registered Investment Companies (RICs) ,
Regulation S-P ,
SEC Examination Priorities ,
Securities and Exchange Commission (SEC) ,
Securities Exchange Act
On June 5, 2024, a three-judge panel of the U.S. Court of Appeals for the Fifth Circuit (the “Fifth Circuit”) unanimously vacated the “Private Fund Adviser Rules,” which the U.S. Securities and Exchange Commission (the SEC)...more
6/13/2024
/ Audits ,
Disclosure Requirements ,
Investment Adviser ,
Investment Advisers Act of 1940 ,
Investors ,
Private Funds ,
Quarterly Report ,
Recordkeeping Requirements ,
Registered Investment Advisors ,
Reporting Requirements ,
Securities and Exchange Commission (SEC)