The new standard aims to improve accounting treatment of certain digital assets under GAAP and may pave the way for increased institutional adoption.
By Jack Barber, Robert J. Malionek, Marlon Q. Paz, Heather Waller, and Deric Behar
On September 6, 2023, the Financial Accounting Standards Board (FASB)[1] voted to approve
In its second action involving NFTs, the SEC targets an offering tied to fundraising and promises of future value.
By Ghaith Mahmood, Nima H. Mohebbi, Stephen P. Wink, Douglas K. Yatter, Adam Zuckerman, Luca Marquard, and Deric Behar
On September 13, 2023, the Securities and Exchange Commission (SEC) issued
An appeals court panel rules that the SEC rejection of a proposed spot bitcoin ETP was arbitrary and capricious, opening the door for the potential launch of numerous ETPs in the near future.
By Jack Barber, Aaron Gilbride, Marlon Paz, Stephen P. Wink, and Deric Behar
On August 29, 2023, a
A new publication from the UK’s financial regulator signals to firms that they should take steps to manage risks in the use of AI.
By Stuart Davis, Fiona M. Maclean, Gabriel Lakeman, and Imaan Nazir
The UK’s Financial Conduct Authority (FCA) has published its latest board minutes highlighting its increasing focus on
A federal court’s dismissal of claims against a decentralized cryptocurrency platform and its investors for the actions of scam token issuers is a case of first impression with wider significance.
By Jenny Cieplak, Benjamin A. Naftalis, Stephen P. Wink, Douglas K. Yatter, Gregory Mortenson, and Deric Behar
On August 29,
In its first enforcement action involving NFTs, the SEC focused on issuer marketing that promised outsized returns on investment and platform building.
By Ghaith Mahmood, Nima H. Mohebbi, Stephen P. Wink, Douglas K. Yatter, Adam Zuckerman, and Deric Behar
On August 28, 2023, the Securities and Exchange Commission (SEC) issued
The move becomes effective on October 1, 2023, with the Supreme Court soon to decide on the agency’s rule-writing authority.
By Barrie VanBrackle, Marifiel Gonzalez, and Deric Behar
On February 1, 2023, the Consumer Financial Protection Bureau (CFPB) proposed a rule (the Proposal) to amend Regulation Z, which implements the Truth in Lending
The Monetary Authority of Singapore announced a new framework that seeks to ensure value stability for stablecoins regulated in Singapore.
By Simon Hawkins, Farhana Sharmeen, Tan Gen Huong, and Adrian Fong
On 15 August 2023, the Monetary Authority of Singapore (MAS), Singapore’s primary regulator for banks and payment services, announced its new
The Act aims to modernize and streamline state regulation of money transmitters while promoting innovation and consumer protection.
By Parag Patel, Mik Bushinski, and Deric Behar
More than a dozen US states have enacted the Money Transmission Modernization Act (MTMA) in whole or in part, while several others have introduced bills to implement
New laws implement regulatory standards and licensing requirements for fintechs seeking to improve employee access to wages.
By Parag Patel, Mik Bushinski, and Deric Behar
On June 13, 2023, Nevada enacted a law that regulates earned wage access (EWA) services provided to state residents. Missouri followed by enacting an EWA law on July