The Legal Statement applies areas of insolvency law to digital assets, providing valuable guidance on the approach English courts will take.
By Bruce Bell, Stuart Davis, Gabriel Lakeman, Jessica Walker, and Tim Bennett
In October 2023, the UK’s Jurisdiction Taskforce (UKJT), which is made up of senior judges, lawyers, a law
The white paper examines how generative AI might shape the global derivatives markets, including new opportunities for industry stakeholders.
ISDA Future Leaders in Derivatives (IFLD) is a cohort of emerging leaders in the derivatives space representing financial services institutions, buy- and sell-side firms, and law firms (including Latham & Watkins, represented by associate Naffie Lamin).
On April 17, 2024, Senators Cynthia Lummis (R-WY) and Kirsten Gillibrand (D-NY) introduced a bill entitled the Lummis-Gillibrand Payment Stablecoin Act. The bill is the latest bipartisan effort by the two senators to provide a comprehensive federal oversight regime for the regulation of stablecoins.
The decision, which addresses a broad range of market activity by Coinbase relating to 13 third-party tokens, could have significant implications for market participants.
By Latham & Watkins’ Litigation & Trial Practice
On March 27, 2024, Judge Katherine Failla of the US District Court for the Southern District of New York (SDNY) ruled[i] (the Ruling) in favor of the Securities and Exchange Commission (SEC) on all but one argument raised in Coinbase’s motion for judgment on the pleadings, finding that the Commission adequately alleged the tokens at issue and Coinbase’s staking services are securities and that Coinbase has been operating as an unregistered broker, exchange, and clearing agency.
The Ruling followed significant recent decisions in two other high-profile SEC enforcement actions regarding cryptocurrencies: SEC v. Ripple Labs, Inc., No. 1:20-Civ-10832 (SDNY), and SEC v. Terraform Labs Pte. Ltd., No. 1:23-cv-01346 (SDNY). The Coinbase decision, however, may be the most significant among the three decisions because (1) it addresses a broader range of market activity by a token exchange (as opposed to an issuer) and 13 third-party tokens (as opposed to fewer tokens from a single issuer), and (2) Judge Failla’s Ruling addresses the prior decisions in Ripple and Terraform and thus serves as the latest, most comprehensive opinion to date in the canon of case law on the issues.
Updated on April 17, 2024
The decision, which addresses a broad range of market activity by Coinbase relating to 13 third-party tokens, could have significant implications for market participants.
By Latham & Watkins’ Litigation & Trial Practice
On March 27, 2024, Judge Katherine Failla of the US District Court for the Southern District of New
Hong Kong’s Securities and Futures Commission (SFC) has conditionally approved new exchange-traded funds (ETFs) for Bitcoin (BTC) and Ethereum (ETH). These funds are managed by the Hong Kong branches of Harvest Fund Management, Bosera Asset Management, and China Asset Management (ChinaAMC).
The SFC has not fully approved but instead issued “conditional authorization letters” to several
Playtron and Mysten Labs, known for their innovative work on the Sui blockchain, recently introduced the SuiPlay0x1, a cutting-edge gaming handheld. This device marks a significant step in the Web3 gaming industry by merging traditional gaming experiences with the burgeoning field of blockchain technology.
At its core, the SuiPlay0x1 operates on Playtron’s adaptable operating
In recent weeks, the Solana blockchain has encountered severe network congestion, resulting in a notable uptick in transaction failures. Reports indicate that approximately 70% of non-voting transactions on the network are currently unsuccessful. This issue stems from a variety of causes, notably including an increase in network demand driven by the proliferation of memecoins and
As federal regulation remains patchy, firms may want to consider a New York state charter as a potential avenue to expand digital asset offerings in a compliant manner.
By Arthur S. Long, Barrie VanBrackle, Stephen P. Wink, and Deric Behar
On March 22, 2024, WisdomTree, Inc., a global asset management firm, announced
Netflix is set to distribute the documentary NFT:WTF? in the UK, a detailed exploration of how non-fungible tokens (NFTs) have reshaped the art world and the entertainment industry. Directed by the acclaimed filmmaker David Shulman, known for his BAFTA-winning work, the film promises an in-depth look into a phenomenon that has both intrigued