Blockchain and Digital Assets News and Trends – March 2025

This periodic bulletin is designed to help companies identify important legal developments governing the use and acceptance of blockchain technology, smart contracts, and digital assets.

While the use cases for blockchain technology are vast, this bulletin focuses on uses of blockchain and smart contracts in the financial services sector. With respect to digital assets, we have organized our approach to this topic by discussing them in terms of traditional asset type or function (although the types and functions may overlap) – that is, digital assets as:

• Securities
• Virtual currencies
• Commodities
• Deposits, accounts, intangibles
• Negotiable instruments
• Electronic chattel paper
• Digitized assets

In addition to reporting on the law and regulation governing blockchain, smart contracts, and digital assets, this bulletin will discuss the legal developments supporting the infrastructure and ecosystems that enable the use and acceptance of these new technologies.

INSIGHTS

Agencies ease crypto scrutiny as White House advances its digital assets policy 

By Margo Tank, David Stier, Dillon Guthrie, Eric Hall, and Kristin Boggiano

Recent actions by federal agencies and the White House could herald a sea change in US policy toward digital assets. The positivity reflects the Trump Administration’s opening move to support the growth of digital assets in the form of an Executive Order (EO) issued on January 23, 2025. The EO directed the rescission or modification of regulatory positions on cryptocurrencies across federal agencies and established a digital asset working group chaired by the White House crypto “czar.” One objective of the working group is to propose within 180 days, or by July 22, 2025, a regulatory framework for digital assets, as well as to evaluate whether to create a “national digital asset stockpile.”

We set out a summary of key digital asset-related actions since the start of the second Trump Administration. Although many of these actions leave the specifics for later, certain agencies have taken definitive steps, while the White House convened a historic crypto summit and issued an EO on March 6, 2025, creating not only a digital asset stockpile but also a bitcoin reserve. Read more.

Congress deliberates legislation establishing a legal framework for stablecoins

By Margo Tank and Kristin Boggiano 

The Trump Administration’s Executive Order on January 23, 2025, titled, “Strengthening American Leadership in Digital Financial Technology,” laid the groundwork for encouraging innovation to develop a digital economy. This, in turn, has encouraged legislative action, regulatory reforms, and other federal initiatives. In Congress, stablecoin legislation is actively under consideration in each of the House and the Senate. Both bills are designed to establish a legal framework for stablecoins used as a means of payment. They outline requirements for federal (or state) licensing and oversight, transparency and one-to-one reserve standards, redemption and consumer protection requirements, and anti-money laundering and know-your-customer (AML/KYC) compliance. Read more. 

STATUTORY AND AGENCY DEVELOPMENTS

FEDERAL DEVELOPMENTS

White House

President Trump establishes strategic bitcoin reserve and US digital asset stockpile. On March 6, President Donald Trump signed an EO to create a Strategic Bitcoin Reserve and a US Digital Asset Stockpile (DAS) to manage and control custodial accounts for digital assets in connection with the President’s stated goal of making the US as a global leader in digital asset strategy. The Strategic Bitcoin Reserve will be funded with bitcoin forfeited in criminal or civil proceedings and will not be sold, ensuring it remains a store of value. Additionally, the US DAS will consist of other digital assets obtained through forfeiture, with strategies for responsible management to be developed by the Treasury. The order requires agencies to review their authority to transfer these assets to the respective custodial accounts and report their findings within 30 days. The Treasury and Commerce Departments are tasked with developing budget-neutral strategies for acquiring additional BTC, although no further digital assets are to be acquired beyond forfeiture proceedings without additional executive or legislative action. Under the order, the Treasury will also evaluate legal and investment considerations for managing these reserves and provide a full accounting of all government-held digital assets within 60 days.

Congress

CRS analyzes relationship between banking and crypto industries. On February 20, the US Congressional Research Service (CRS) published a report addressing policy issues related to banking and cryptocurrency. The report addresses the regulatory test applicable to bank involvement in crypto activities and recommends that crypto firms seek federal or state bank charters. Additionally, the report discusses policy concerns, anti-money laundering (AML) challenges, and potential actions by Congress related to crypto and banking.

Congress votes to overturn DeFi broker rule. On March 4, the US Senate passed a joint resolution to overturn a final rule that would require digital asset “brokers” to report certain decentralized finance (DeFi) transactions to the Internal Revenue Service. The House of Representatives approved a similar joint resolution on March 11, which similar resolution must now move to the Senate for approval before it can be signed by the President. White House Special Advisor for AI and Cryptocurrency David Sacks stated in a blog post that the White House would support efforts to rescind the rule. For more information on the final rule, see our prior article, “Digital asset broker tax reporting rules for DeFi participants finalized.”

CFPB

CFPB extends comment period on proposed rule to expand the scope of FCRA. April 2 is the new deadline to submit comments on the Consumer Financial Protection Bureau’s (CFPB) Notice of Proposed Rulemaking that would impose stricter regulation on data brokers under the Fair Credit Reporting Act (FCRA). The proposed rule expands the definition of “consumer reporting agency” to include data brokers that sell information about a consumer’s credit history, credit score, debt payments, or income regardless of why this information is used or expected to be used. The proposed rule also expands the definition of a “consumer report” to include communications that contain personal identifiers such as a consumer’s name, address, or age if the information was collected for the purpose of preparing a consumer report.

FDIC

Representatives provide FDIC with recommendations to clarify digital asset regulation. On February 20, the Chairman of the House Financial Services Committee, French Hill (AR-02); Chairman of the Subcommittee on Oversight and Investigations, Dan Meuser (PA-09); Chairman of the Subcommittee on Financial Institutions, Andy Barr (KY-06); and Chairman of the Subcommittee on Digital Assets, Financial Technology, and Artificial Intelligence, Bryan Steil (WI-01) announced they sent a letter to the Federal Deposit Insurance Corporation (FDIC) Acting Chairman Travis Hill seeking clarification of the FDIC’s plan for regulatory and supervisory work related to the digital asset activities of regulated financial institutions. The letter recommended that the FDIC:

• Require all banking supervisory guidance to be written and publicly disclosed.
• Explore ways for financial institutions to provide a clear explanation to customers when closing their accounts.
• Prohibit use of reputational risk as a supervisory factor and clarify and reform the use of “management” from CAMELS assessment to prevent abuse or discrimination.
• Subject all supervisory guidance to an external, periodic review that weighs regulatory benefits against impacts on law-abiding Americans’ banking access.
• Ensure all supervisory guidance and rules apply equally to all institutions.

SEC

SEC staff statement on meme coins and response. On February 27, the US Securities and Exchange Commission’s (SEC) Division of Corporation Finance issued a Staff Statement clarifying the application of federal securities laws to "meme coins," a type of crypto asset inspired by internet memes and trends. The Division noted that meme coins are typically purchased for entertainment and social interaction, with their value driven by market demand and speculation, akin to collectibles, and that, due to their speculative nature, meme coins often experience significant price volatility and generally lack utility beyond entertainment. The Division concluded that transactions involving meme coins do not constitute the offer and sale of securities under federal securities laws, meaning participants do not need to register these transactions with the SEC. However, the Division emphasized that fraudulent conduct related to meme coins could still be subject to enforcement by other federal or state agencies.

Commissioner Caroline A. Crenshaw issued a critical response, titled, “Response to Staff Statement on Meme Coins: What Does it Meme?” She argues that the Staff Statement offers an incomplete and unsupported view of the law by suggesting that meme coins fall outside SEC jurisdiction. In her response, she highlighted the lack of a clear definition for meme coins and emphasizes that the label does not exempt them from being considered securities under the Howey test, which assesses the reasonable expectation of profits based on the efforts of others. Crenshaw concluded that the guidance fails to provide clarity or predictability, raising more questions than answers about the categorization and regulation of meme coins. She also issued a statement critical of the dismissal of the SEC enforcement action against Coinbase the same day.

SEC’s Crypto Task Force seeks public input. On February 21, Hester Peirce, SEC Commissioner and head of the SEC’s newly created Crypto Task Force, issued a statement titled, “There Must Be Some Way Out of Here,” remarking on the Commission’s prior labyrinthine approach to regulating digital asset industry participants. “Greater crypto clarity,” Commissioner Peirce wrote, “requires the public’s input.” She then posed a list of 48 questions designed to solicit the public’s input on several topics, including how novel blockchain-based assets should be classified as securities, what disclosures and reporting requirements should apply to publicly offered crypto assets, and how platforms for trading digital assets should be regulated. The statement invited public comment using a written submission form and offered meetings with the Crypto Task Force through a meeting request form.

SEC launches new Cyber and Emerging Technology Unit to complement Crypto Task Force. On February 20, the SEC announced that it is replacing the Crypto Assets and Cyber Unit with the new Cyber and Emerging Technologies Unit (CETU). Laura D’Allaird will head the CETU, which will focus on protecting “retail investors in the emerging technologies space.” In addition to fraud involving blockchain technology and crypto assets, the CETU will combat fraud in the use of artificial intelligence, social media and the dark web, and, among others, hacking and retail account takeovers. In a statement, Acting SEC Chair Mark Uyeda said the CETU “will complement the work of the Crypto Task Force,” which is meant to provide regulatory clarity to the digital asset industry, by “clearing the way for innovation to grow.”

CFTC

CFTC issues new enforcement advisory on self-reporting, cooperation, and remediation. The Commodity Futures Trading Commission (CFTC) has issued an enforcement advisory detailing how its Division of Enforcement will evaluate self-reporting, cooperation, and remediation from companies and individuals in enforcement actions. The advisory, published on February 25, 2025, introduces a mitigation credit matrix, marking the first time the Division will use such a tool to determine the appropriate mitigation credit to apply. In addition, the advisory moves the Commission into alignment with other self-reporting and cooperation practices followed by the Department of Justice (DOJ) and other US financial regulators, with the aim to conserve government resources and promote market integrity through self-reporting and cooperation. The advisory comes from newly installed CFTC Enforcement Director Brian Young, who spent nearly two decades with the DOJ and prosecuted some of the most significant commodities fraud cases over the past 15 years. As such, the principles outlined in this advisory draw from a DOJ-style framework, including the use of terms, such as "substantial assistance." Read more.

OCC

OCC clarifies bank authority to engage in cryptocurrency activities. On March 7, the Office of the Comptroller of the Currency (OCC) announced publication of Interpretive Letter 1183 which reaffirms that national banks and federal savings associations can engage in various cryptocurrency activities, including crypto-asset custody, certain stablecoin activities, and independent node verification networks like distributed ledgers. This letter also rescinds Interpretive Letter 1179, which required OCC-supervised institutions to obtain supervisory nonobjection and demonstrate adequate controls before engaging in these activities. Acting Comptroller of the Currency Rodney E. Hood emphasized the importance of maintaining strong risk management controls for both novel and traditional bank activities. Additionally, the OCC withdrew from joint statements on crypto-asset risks and liquidity risks to banking organizations, aiming to reduce the regulatory burden and ensure consistent treatment of bank activities regardless of the technology involved.

FBI

FBI issues alert on North Korean theft of cryptocurrency. On February 26, the Federal Bureau of Investigation (FBI) issued a public service announcement stating that the Democratic People’s Republic of North Korea was responsible for the theft of $1.5 billion in digital assets from the cryptocurrency exchange Bybit – referring to this cyber activity as “TraderTraitor.” The announcement identified the addresses TraderTraitor actors are using to launder the stolen assets, and the FBI urged private sector entities to block transactions with or derived from those addresses.

OFAC

OFAC sanctions head of online darknet marketplace. On March 4, the US Department of Treasury’s Office of Foreign Asset Control (OFAC) sanctioned Behrouz Parsarad, the administrator of darknet marketplace Nemesis. Prior to its takedown by law enforcement in 2024, Nemesis had over 30,000 active users and facilitated the sale of nearly $30 million worth of illegal narcotics such as fentanyl and other synthetic opioids. Since then, Parsarad has discussed creating a new darknet marketplace.

Federal Reserve

Central Bank Governor addresses importance of stablecoins. On February 12, the Federal Reserve published a speech given by Governor Christopher J. Waller at a conference in San Francisco in which he addressed the importance of stablecoins to the cryptocurrency industry. In the speech, Governor Waller discussed use cases for stablecoins (eg, safe store of value, access and holding US dollars, cross-border payments, and retail payments), viable business models for stablecoins, and potential challenges and roadblocks, including the need for a clear regulatory regime in the US.

Department of State

State Department identifies digital currencies as growing threat in AML efforts. In March, the Department of State’s Bureau for International Narcotics and Law Enforcement Affairs published its International Narcotics Control Strategy Report. Volume 2 of the report provides a comprehensive overview of global AML efforts. The report evaluates the legislative frameworks, methodologies, and involvement of various US government agencies in addressing narcotics-related money laundering. It also details the vulnerabilities and money laundering tactics deployed in various countries. The report places significant emphasis on the growing risks associated with the illicit use of digital currencies, noting that the lack of supervisory oversight and control over these technologies poses new challenges for money laundering. According to the report, several countries, including Algeria, The Bahamas, Turkey, and Uzbekistan, have enacted legislative changes or issued regulatory guidance to address these risks. The report specifically highlights countries that have included Virtual Asset Service Providers (VASPs) in AML reporting regimes, such as Argentina, El Salvador, Peru, and Taiwan. Additionally, the report discusses the vulnerabilities associated with virtual currencies in various jurisdictions, such as the use of cryptocurrencies for money laundering in China, the Philippines, and Vietnam. Ultimately, the report recommends international cooperation to ensure compliance with global AML standards.

STATE DEVELOPMENTS

Digital assets

Nebraska enacts digital asset fraud legislation. On March 11, Nebraska Governor Jim Pillen signed LB 609, a bipartisan bill to protect against digital asset fraud, particularly targeting digital asset ATMs. The “Controllable Electronic Record Fraud Prevention Act” aims to safeguard users by requiring ATM operators to be licensed under the state's Money Transmitters Act and registered with the state Department of Banking and Finance. The legislation mandates quarterly reports on kiosk operations, enforces transaction limits, and ensures fraud warnings are displayed. In signing, the governor emphasized the importance of these measures in establishing Nebraska as a leader in the cryptocurrency industry while protecting its citizens.

Utah legislature passes digital asset bill. On March 12, the legislature of Utah passed a bill that prohibits state and local government entities from restricting the acceptance or custody of digital assets. The bill establishes the right of state citizens to operate nodes, develop software, transfer digital assets, and participate in staking on blockchain protocols; creates exemptions from money transmitter licensing requirements for certain blockchain and digital asset activities; and restricts the ability of political subdivisions to impose sound limitations or zoning restrictions on digital asset mining businesses in industrial zones. The bill notably excluded a provision that would have allowed the state treasurer to invest in cryptocurrency. The bill will now head to Governor Spencer Cox for his signature.

California DFPI reports success in combatting crypto scams. On March 10, the California Department of Financial Protection and Innovation (DFPI) announced that its partnership with the California Department of Justice had shut down 26 crypto scam websites and uncovered $4.6 million in consumer losses. The DFPI touted its Crypto Scam Tracker which allows complainants to report new scams and document losses. The DFPI urged continued public awareness and reporting of crypto scams.

INDUSTRY DEVELOPMENTS

ENFORCEMENT ACTIONS AND LITIGATION

FEDERAL

Securities

SEC drops several high-profile crypto enforcement actions. Throughout February and March, the SEC dropped enforcement actions against ten digital asset industry participants, all of which involved the alleged sales of unregistered securities. The actions were in various stages of prosecution.

• OpenSea: On February 21, the founder and CEO of OpenSea announced on X (formerly Twitter) that the SEC had closed its investigation into the popular NFT trading platform without pursuing claims that it operated as an unregistered securities exchange.
  
  
• Uniswap: The following weekend, on February 24, Ethereum-based DeFi platform Uniswap announced that the SEC had officially closed its investigation without recommending an enforcement action based on claims that Uniswap operated as an unregistered broker-dealer and securities exchange and issued an unregistered security.
  
  
• Robinhood: On the same day, investment platform Robinhood announced that the SEC had closed its investigation into Robinhood Crypto, recommending no action despite an earlier Wells Notice accusing the company of offering unregistered securities.
  
  
• Gemini: On February 26, in an X post, the founder of Gemini announced that the SEC had closed its investigation into the centralized exchange platform without recommending any enforcement action.
  
  
• Coinbase: On February 27, the SEC announced that it had stipulated to dismiss, with prejudice, its case charging Coinbase with operating as an unregistered securities exchange, broker, and clearing agency, and offering an unregistered security through its staking services. In a published statement, SEC Commissioner Caroline Crenshaw criticized dismissal of the Coinbase case, which did not involve fraud allegations, as eroding the Commission’s authority to “pursue fraudulent conduct in [the digital asset] space.” In her own statement, Commissioner Peirce praised the dismissal as an end to the SEC’s “regulation-by-enforcement initiative.”
  
  
• Consensys: On the same day, Consensys, the developer behind the popular Ethereum wallet MetaMask, announced that the SEC had agreed to seek dismissal of its case alleging that staking functions included in MetaMask constituted the unregistered sale of securities.
  
  
• Kraken: On March 3, another exchange Kraken announced that the SEC had agreed to dismiss its lawsuit alleging that Kraken operated as an unregistered broker-dealer and exchange.
  
  
• Yuga Labs: Also on March 3, NFT studio Yuga Labs announced in an X post that the SEC had closed its investigation into whether Yuga Labs’ NFTs were sold as unregistered securities.
  
  
• Cumberland DRW: Finally, a similar post followed on March 5 from Cumberland DRW announcing the SEC’s pending dismissal of its case charging the centralized exchange with operating as an unregistered securities dealer.

SEC dismisses appeal of cases challenging “dealer rule.” On February 19, the SEC moved to voluntarily dismiss its appeal of a case brought by the Blockchain Association (BA) and the Crypto Freedom Alliance of Texas (CFAT). The case had challenged implementation of the SEC’s “dealer rule” which sought to expand the definition of “dealer” under the Exchange Act to include, among others, proprietary trading firms and market liquidity providers. A federal court in the Northern District of Texas had struck down the rule as exceeding the SEC’s authority.

SDNY holds Yen-backed stablecoin is not a security under Howey. On February 17, the federal district court for the Southern District of New York issued a decision on a motion dismiss filed in Donovan v. GMO-Z.com Trust Co., 23-cv-8431. The case involves defendant GMO Trust’s GYEN token, a stablecoin pegged to the value of the Japanese Yen (JPY). When GYEN first launched on centralized exchanges in 2021, a market irregularity caused the price of GYEN to skyrocket, de-pegging it from the true price of JPY. Plaintiffs allegedly purchased GYEN at these inflated prices only to lose nearly all their purchase value when the price of GYEN returned to its peg days later. Their putative class action lawsuit alleged, in part, that GYEN was sold as an unregistered security in violation of federal securities laws. Acting on GMO Trust’s motion to dismiss, the court disagreed. Concluding GYEN was not sold as an unregistered security, the court applied the Howey test to determine if GYEN met the definition of an “investment contract.” The court found Howey’s third prong dispositive. That prong requires that a purchaser of the alleged investment contract have a reasonable expectation of profits based on the efforts of others. According to the court, plaintiffs were missing this element. GMO Trust marketed GYEN not as an investment that could increase in value, but as an asset with a “stable” value “pegged” to the Japanese Yen “at a rate of 1-to-1.” The court held that “where a stablecoin is designed exclusively to maintain a one-to-one peg with another asset, there is no reasonable basis for expecting that the tokens … would generate profits through a common enterprise.” Plaintiffs argued that the ability to use GYEN as a hedge or to engage in arbitrage gave them a reasonable expectation of profit based on GMO Trust’s efforts to keep the price of GYEN stable, but the court rejected this argument as well. The court concluded that GMO Trust’s efforts, while “necessary” to maintain GYEN’s price stability, were merely “[m]inisterial, technical, and clerical tasks” that are insufficient to transform an asset into an “investment contract” under Howey. The court explained that to satisfy Howey’s third prong, a reasonable purchaser “must believe that the efforts of others will be geared toward generating profits, enhancing the value of the asset underlying the investment contract, or growing the enterprise—not merely facilitating individual purchasers’ speculative schemes.” On these grounds, the court dismissed the plaintiffs’ federal securities law claim with leave to amend. The court did, however, sustain the plaintiffs’ consumer protection claims under New York and California law.

Virtual currency

Russian national extradited to US to face cryptocurrency charges. On February 25, Aleksei Andriunin, Founder and Chief Executive Officer of market maker platform Gotbit, was extradited to the US from Portugal to face charges of wire fraud and conspiracy to commit market manipulation and wire fraud. The DOJ alleged that Gotbit provided market manipulation services to create artificial trading volume for multiple cryptocurrency companies. In a 2019 interview, Andriunin allegedly described how he developed a code to “wash trade” cryptocurrencies to artificially inflate trading volume.

DOJ secures guilty plea in case of cryptocurrency Ponzi scheme. On February 13, the DOJ announced that Sergei Potapenko and Ivan Turōgin, owners of cryptocurrency mining service HashFlare, each pleaded guilty to one count of conspiracy to commit wire fraud. The pair sold contracts to customers granting them a share of cryptocurrency mined by HashFlare, ultimately selling $577 million worth of shares. However, HashFlare did not have the computing capacity to perform the amount of mining defendants promised, and HashFlare’s dashboard reflected falsified data. Potapenko and Turōgin have agreed, as part of the plea deal, to forfeit more than $400 million worth of assets which will be available to compensate victims of the crime.

Money laundering

DOJ secures guilty plea from cryptocurrency exchange. On February 24, the US Department of Justice (DOJ) announced that Aux Cayes Fintech Co. Ltd, the operator of the cryptocurrency exchange OKX, pled guilty to one count of operating an unlicensed money transmitting business. OKX had an official policy preventing US persons from transacting on its exchange. It nevertheless sought out US customers who engaged in over $1 trillion worth of transactions on the platform. Despite serving US retail and institutional customers, OKX chose not to register with the US Department of Treasury’s Financial Crimes Enforcement Network (FinCEN) as required by law. OKX also failed to comply with federal AML laws. In connection with the guilty plea, OKX agreed to pay $504 million in penalties.

Montana man found guilty of cryptocurrency money laundering conspiracy. On February 26, Randall V. Rule was found guilty on all counts by a jury following a three-day trial. Rule and codefendant Gregory C. Nysewander were charged with money laundering conspiracy, money laundering, and a conspiracy to violate the Bank Secrecy Act. The pair were alleged to have conspired to launder the proceeds of wire fraud and mail fraud schemes through cryptocurrency. They also allegedly made false representations to avoid discovery of the fraudulent transfers. Rule and Nysewander’s conspiracy laundered more than $2.4 million.

Owner of Las Vegas company indicted in cryptocurrency Ponzi scheme. On February 14, the DOJ announced the indictment of Brent C. Kovar, a Las Vegas business owner, for multiple counts of wire fraud, mail fraud, and money laundering after allegedly defrauding approximately 400 investors out of $24 million through his company, Profit Connect. Kovar misrepresented Profit Connect as a profitable AI and cryptocurrency investment firm, falsely claiming it paid fixed returns of 15–30-percent APR and offered a 100-percent money-back guarantee. Instead, he used investor funds for personal expenses and to repay other investors. Kovar faces a potential maximum sentence of 330 years in prison and fines up to $4.5 million.

Jury finds New York man guilty of wire fraud and money laundering in connection with crypto investing scam. On February 27, the DOJ announced that a federal jury had convicted Douglas Jae Woo Kim of wire fraud, international money laundering, and money laundering in connection with a scheme to defraud friends and acquaintances of more than $7 million. The jury found that Kim took money and cryptocurrencies from friends and acquaintances after promising to trade in cryptocurrencies and generate high returns. Kim then laundered the assets through offshore gambling sites.

DOJ disrupts Garantex money laundering operations. On March 7, the DOJ announced it had taken down the online infrastructure support the Garantex cryptocurrency exchange. The coordinated action with Germany and Finland aimed to disrupt the ability of transnational criminal and terrorist organizations from allegedly using Garantex to launder money. According to a related indictment, two Garantex executives Aleksandr Mira Serda and Aleksej Besciokov knew that Garantex was receiving hundreds of millions of dollars’ worth of criminal proceeds and took steps to conceal its illicit sources. The indictment further alleges that Besciokov conspired to evade US sanctions imposed on the exchange in April 2022.

SPOTLIGHT ON INTERNATIONAL DEVELOPMENTS

Crypto assets related funds in Luxembourg. Luxembourg is the largest investment fund center in Europe and the second largest in the world after the US. With a dominant position in both retail and institutional fund markets, the grand duchy has also established itself as a key jurisdiction for investors from Asia, Latin America, and the Middle East. To maintain and reinforce this leadership, Luxembourg continuously modernizes its legal framework, proactively aligning with industry needs and global market trends. The recent adoption of Blockchain Law IV demonstrates Luxembourg’s commitment to innovation and evolution in digital finance. Read more.

DLA PIPER NEWS

• The Financial Times recognizes DLA Piper as one of the Most Innovative Law Firms in North America.


• The Legal 500 ranks DLA Piper Tier 1 in FinTech: Crypto. DLA Piper was also ranked in Tier 2 for FinTech, and Margo Tank was ranked as a “Leading Individual.”


• Chambers FinTech Legal ranks DLA Piper in four categories including Band 2 for Blockchain and Digital Assets, and Band 3 for Payments and Lending, with Margo Tank individually recognized in Blockchain and Digital Assets and Payments and Lending.


• DLA Piper’s Commodities, Digital Assets, and Carbon Compliance and Enforcement team draws on decades of collective experience in the commodities and securities industry to help companies navigate new and complex commodities enforcement matters, including those related to agriculture, metals, energy, digital assets, and carbon/sustainable commodities, among others.

RECENT EVENTS

• DLA Piper presented the 2nd Annual Global Digital Forum – Financial Services Evolution or Revolution? on February 25 at the DLA Piper’s London office and virtually. The forum was co-organized with Global Digital Finance and covered the opportunities that digital finance brings, spanning key jurisdictions and a range of topics including digital bonds, real-world asset tokenization, stablecoins, DeFi, AI, and digital asset litigation, as well as the policy landscape in agenda-setting regions such as the UK, US, EU, and Middle East. Baroness Kay Swinburne presented the keynote address. Prior to her current legislative, advisory, and financial services consulting roles, Baroness Swinburne worked in financial services both before and after being elected to the European Parliament (2009–2019). She also served as a leading EU legislator and Vice Chair of the Economics and Monetary Affairs Committee, helping shape EU and global financial services legislation.
  
  
• David Stier spoke alongside other industry professionals at the 21st Puerto Rican Symposium of Anti-Money Laundering in San Juan, Puerto Rico, on February 21 on a panel titled, “Anti-Money Laundering Under a New US Administration: Policy Shifts and Market Impact.”

PUBLICATIONS

• DLA Piper published its global financial services report, Financial Futures: Disruption in US and Global Financial Services, after asking nearly 800 financial services decision makers around the world about key disruptors impacting senior leaders in financial institutions and fintechs. Check out our report and read about the challenges and opportunities that AI, digitization, and ESG pose for the financial services industry.
  
  
• In the book, Banking [on] Blockchain: A Legal and Regulatory Primer, published by the American Bar Association, David Stier, Emily Honsa Hicks, and Eric Hall co-authored a chapter on anti-money laundering (AML)/know your customer (KYC) requirements and the Bank Secrecy Act (BSA), as well as provided general editorial assistance on other chapters. The book is a comprehensive guide to the legal and regulatory landscape surrounding the use of blockchain technology, decentralization, and digital assets within the financial services, and offers guidance on how financial institutions may navigate the complex regulatory environment.


• Cryptocurrency and Digital Asset Regulation, published by the American Bar Association and co-edited by Deborah Meshulam and Michael Fluhr, includes chapters by Meshulam, Fluhr, and Margo Tank.

Listen

Digital Transformation – The never-ending journey. Digital transformation is more than a trend – it’s a continuous journey. Our Tech Index 2024 looks at the rise of blockchain to the advancements in AI and the potential of quantum computing, the evolution never stops. Organizations must adapt and lead the way in this ever-changing landscape. Mark O'Conor, Paul Allen, and Chloe Forster take a deep dive into digital transformation.

Read more

Market Edge – DLA Piper’s new blog that delivers the latest regulatory, market, and industry trends for issuers and underwriters, public company boards, and other market players

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SEC enforcement actions highlight anti-money laundering reporting focus for financial gatekeepers

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Fifth Circuit vacates stay of Corporate Transparency Act injunction, again putting deadlines on hold

Digital Digest | DLA Piper - addresses the growing challenges faced by the UK commercial and financial sector due to the increasing number of laws, regulations, and market practices affecting the digital and crypto industry.

Contacts

Learn more about our Blockchain and Digital Assets practice by contacting any of our editors:

Margo Tank

Michael Fluhr

Liz Caires

Eric Hall