The White House recently published a “Framework for Responsible Development of Digital Assets,” following up on President Joe Biden’s executive order on digital assets earlier this year, which set forth six principal policy objectives in furtherance of U.S. initiatives in
Digital Currency + Blockchain Perspectives
Digital Currency + Blockchain Perspectives, published by Goodwin Procter, focuses on legal developments and regulatory issues in the digital currency and blockchain sectors. The blog covers enforcement actions, compliance requirements, litigation trends, and regulatory rule changes affecting cryptocurrency exchanges, digital asset commodities, and blockchain technology. It also discusses industry standards and frameworks such as those from the International Swaps and Derivatives Association (ISDA). The content addresses the intersection of financial regulation, anti-money laundering, market conduct, and emerging legal challenges in the evolving digital asset landscape.
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Goodwin Expands Private Investment Funds Practice with Regulatory Partner in London
Goodwin recently appointed Andrew Henderson as regulatory partner to its Private Investment Funds’ practice in London. Dr. Henderson has over 20 years’ experience advising financial institutions, including asset and investment managers, as well as family offices and technology providers on…
Buying A U.K. Crypto Business: The New Regulatory Hurdles
The advance of the regulation of crypto-assets and crypto-related service providers has been piecemeal in the U.K. The latest round of changes took place in the Money Laundering Regulations 2017 (MLR) on 1 September 2022 with some provisions, including the…
Central District of California Authorizes Service of John Doe Summons on Cryptocurrency Dealer
On August 15, 2022, the United States District Court for the Central District of California authorized the IRS to serve a “John Doe” summons on Ox Labs Inc., a cryptocurrency prime dealer doing business as SFOX. The John Doe summons…
U.S. Crypto Regulation and the Digital Commodities Consumer Protection Act
Goodwin partner Grant Fondo was recently interviewed on CoinDesk TV in regards to the Digital Commodities Consumer Protection Act that was introduced on Wednesday, August 3, 2022. The proposed legislation suggests that the CFTC should control crypto spot markets, specifically…
Mandatory Licensing Regime for Virtual Asset Exchanges in Hong Kong
Hong Kong has traditionally been a hub for digital asset businesses in the region. As regulators in Hong Kong are working to tighten the regulatory regime on virtual asset exchanges, market players and investors seeking to take advantage of the…
FT Cryptofinance: US Regulators Vie for Crypto Control (Financial Times Article)
By Nick Losurdo
The crypto industry is still reeling from last week’s insider trading charges, filed by federal prosecutors in New York and the Securities and Exchange Commission against a former Coinbase employee and his associates. The obvious point first: these charges have…
Germany Introduces New Rules on Crypto Funds
Germany has introduced a new regulation on crypto fund units (Verordnung über Kryptofondsanteile – KryptoFAV), that allows fund managers to issue fund units on an electronic instead of a physical basis. The new rules come less than one year after…
Is the SEC’s Expansion of the “Exchange” and “Dealer” Definitions Part of the Agency’s Crypto and DeFi Strategy?
In March 2022, the U.S. Securities and Exchange Commission proposed rules that would greatly expand the Exchange Act definition of “dealer” and essentially kill the distinction between dealers and traders long-recognized by the SEC. The likely outcome is that most…
SEC Publishes Rulemaking Agenda – Digital Currency + Blockchain Perspectives
Goodwin’s Nicholas Losurdo and Christopher Grobbel shared a client alert about the SEC’s recently released Spring 2022 “Reg Flex” agenda, which provides a glimpse into how the agency will prioritize its resources over the coming six months from a policy…