Originally Published: July 13, 2022 Updated: July 14, 2022 One of the key unresolved questions surrounding crypto-custodian bankruptcy proceedings under the U.S. Bankruptcy Code is whether or not digital assets that…
Introduction On June 7, U.S. Senators Kirsten Gillibrand (D-NY) and Cynthia Lummis (R-WY) (together, the “Senators”) introduced the Responsible Financial Innovation Act, a bipartisan bill that seeks to create a…
On June 1, the United States Attorney for the Southern District of New York (“SDNY”) and the New York Field Office of the Federal Bureau of Investigation (“FBI”) unsealed an…
Recent turmoil in the cryptocurrency market has brought issues related to crypto-asset custody to the forefront of the crypto currency discourse;[1] in an enormous $1 trillion crypto-asset crash between approximately…
Concerns over the environmental impact of proof-of-work mining have recently led to increased focus by legislative bodies in Europe and the United States. The use of proof-of-work consensus mechanisms, by…
The cryptocurrency industry last week experienced a turbulence long predicted by industry observers. The third largest stablecoin, TerraUSD (“UST”), lost its one-to-one peg to the U.S. dollar about 10 days…
Digital asset interest accounts, often known as “crypto interest accounts” or “crypto savings accounts,” constitute a rapidly growing segment of the market for digital assets products despite significant regulatory uncertainty. …
On April 28, 2022, the New York State Department of Financial Services (“NYDFS”) issued its Guidance on Use of Blockchain Analytics (the “Blockchain Guidance”) to virtual currency business entities licensed…
On April 28, 2022, a bipartisan group of legislators in the House of Representatives re-introduced and updated a bill regarding proposed regulatory oversight by the CFTC of crypto exchanges on…
The Consumer Financial Protection Bureau announced on Monday it is planning to use a dormant statutory authority, section 1024(a)(1)(C) of the Consumer Financial Protection Act (CFPA), to conduct examinations of…