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Fintech
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October 08, 2025
Kalshi Accused Of Violating SC, Federal Gambling Laws
Trading platforms Kalshi and Robinhood are being sued in South Carolina on allegations that they violate the state's strict anti-gambling laws by offering sports betting and operating a "prediction market" for state residents.
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October 08, 2025
Kalshi Fights Ohio Ban As Pa. Flags Sports Betting Loophole
The clash between state gaming regulators and federally regulated platforms offering sports wagers continued this week as Kalshi sued Ohio agencies over a directive to shut down its sports event contracts, while Pennsylvania's Gaming Control Board warned Congress that prediction markets broadly "create a backdoor to legalized sports betting."
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October 08, 2025
North Dakota To Issue Stablecoin Through State-Owned Bank
North Dakota on Wednesday announced plans to issue its own stable-value token through a partnership between fintech Fiserv Inc. and the state-owned Bank of North Dakota.
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October 08, 2025
Crypto Co. Sues Mercury Funds Over $270M Token Dispute
A blockchain startup sued several entities of a venture capital firm on Wednesday, claiming they are trying to turn a $100,000 investment in the blockchain company's early-stage digital asset venture into $270 million worth of tokens by exploiting a contract typo that mistakenly tied token rights to all their shares.
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October 08, 2025
AFL-CIO Opposes Draft Senate Crypto Bill
A major labor organization, the AFL-CIO, has come out against a Republican draft bill on crypto market structure, saying the draft lacks "meaningful safeguards."
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October 08, 2025
Trump Admin Cites Shutdown In Bid For CFPB Case Delay
Amid growing calls for the full D.C. Circuit to revisit a recent panel ruling that would allow mass layoffs at the Consumer Financial Protection Bureau, the Trump administration is asking for a pause in the case until after the government shutdown is over.
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October 07, 2025
Goldstein's $968K Border Cash Claim To Be Admitted At Trial
A Maryland federal jury will hear claims from prosecutors that SCOTUSblog publisher Tom Goldstein told Dulles International Airport border guards that the $968,000 in cash he brought into the country in 2018 had been gambling winnings, after a judge shot down his efforts to suppress his alleged statements Tuesday.
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October 07, 2025
4 Oral Argument Sessions Benefits Attys Should Watch In Oct.
The Second Circuit will hear from Teamsters looking to revive a proposed class action alleging mismanagement of a multiemployer pension plan, while Alcoa will ask the Seventh Circuit to overturn a ruling requiring the aluminum maker to cover union retirees' healthcare for life. Here, Law360 looks at four arguments that benefits attorneys should have on their radar this month.
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October 07, 2025
Apple Seeks To Toss IPhone, Watch Buyers' Antitrust Suits
Apple has asked a New Jersey federal court to toss multidistrict antitrust litigation brought by iPhone and Apple Watch buyers, arguing that while they "try in vain to invent" theories about how Apple charges monopoly prices the inflation-adjusted price of the latest iPhone is nearly the same as the first model.
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October 07, 2025
Feds Seek 6 Years For Ex-Frank Exec's 'Brazen' $175M Con
Prosecutors asked a New York federal judge Monday to sentence a former executive at financial aid startup Frank to six years in prison for helping its founder Charlie Javice trick JPMorgan Chase & Co. into buying the company for $175 million, saying he deserves no leniency for the "brazen" fraud.
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October 07, 2025
NYSE Parent Invests $2B In Polymarket Amid Market Scrutiny
The parent company of the New York Stock Exchange said Tuesday that it will infuse up to $2 billion into Polymarket, which has an $8 billion valuation, at a time when prediction markets in the United States are increasing in popularity but facing increased scrutiny.
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October 07, 2025
SEC's Atkins Wants To 'Future-Proof' Deregulatory Agenda
U.S. Securities and Exchange Commission Chairman Paul Atkins said Tuesday that he hopes that moving quickly to adopt new rules deregulating the public and private markets will "future-proof" his agenda against potential tampering by succeeding presidential administrations.
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October 07, 2025
NASCAR Wins Fight With LGBCoin Over Racing Deal Approval
A Miami jury returned a defense verdict late Monday in favor of NASCAR in a $76 million suit by the LetsGoBrandon.com Foundation accusing the league of destroying the value of its cryptocurrency LGBCoin after it revoked approval of sponsorship of a racing team.
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October 07, 2025
FDIC, OCC Rule Proposals Seek To Rein In Bank Supervision
Federal banking regulators on Tuesday unveiled a pair of proposed curbs on their supervision programs that would formally ban the use of reputation risk as an exam factor and constrain what examiners can call out for criticism as an "unsafe or unsound" practice.
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October 06, 2025
OCC To Ease Exams, Simplify Licensing For Smaller Banks
The Office of the Comptroller of the Currency moved Monday to ease its oversight of banks with under $30 billion in assets, rolling out policy changes that include cutting back on their exam requirements and potentially expanding their access to expedited licensing options.
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October 06, 2025
Baltimore Sues Fintech Over Digital Payday Lending Scheme
The city of Baltimore has sued MoneyLion in Maryland state court, accusing the fintech company of violating local consumer protection laws by disguising high-interest payday loans as "Instacash Advances" and trapping low-income residents in cycles of debt through excessive fees and "tips."
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October 06, 2025
Jurisdiction Miss Sinks Novel Crypto Suit Claim In Chancery
In a first-of-its-kind decision, Delaware's Court of Chancery on Monday upheld state court "In rem" physical jurisdiction over $3.7 million worth of cryptocurrency held by a Delaware limited liability company after it was allegedly pilfered from an online casino in the Dutch Caribbean island nation of Curacao.
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October 06, 2025
Utah Bank Is No 'Dummy' Lender, OppFi Says In Calif. Fight
Opportunity Financial is looking to close the book on California's banking regulator's claims that it illegally evaded the state's interest rate caps through a sham lending partnership with an out-of-state bank, arguing in a summary judgment bid that its Utah partner, FinWise Bank, is the lawful lender and therefore exempt from California's rate limits.
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October 06, 2025
Suit Aims To 'Claw Back' Kalshi's Ga. Predictions Proceeds
Kalshi Inc. and Robinhood are among a slew of defendants who have been sued in Georgia over allegations that the companies' so-called prediction markets are sidestepping the Peach State's ban on gambling, adding to a growing roster of litigation stemming from the companies' business practices.
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October 06, 2025
Coinbase Seeks OCC Charter To Expand Custody Business
Crypto exchange Coinbase is seeking a national trust company charter from the Office of the Comptroller of the Currency to expand its custody business and related services, joining a growing number of digital asset firms pursuing federal bank charters.
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October 06, 2025
Justices Won't Hear Coinbase's Calif. Arbitration Challenge
The U.S. Supreme Court on Monday declined to take up a case from Coinbase over whether federal arbitration laws preempt a California high court precedent that enabled a group of users to keep the crypto exchange in court over claims it misrepresented the security of its platform.
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October 06, 2025
Justices Will Not Review Question Of Credit Union's Liability
The U.S. Supreme Court on Monday declined to take up a petition to overturn a Fourth Circuit ruling that found banks cannot be held liable for fraudulent fund transfers made from their accounts without having "actual knowledge" that there were discrepancies between the intended beneficiary and the account receiving the deposit.
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October 06, 2025
Justices Deny Certiorari In Auditor's $1.5M Retaliation Suit
The U.S. Supreme Court on Monday declined to hear Axos Bank's petition challenging a $1.5 million award to a former auditor who claimed he was fired for whistleblowing, rejecting a matter that concerns how companies defend against such retaliation claims.
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October 06, 2025
High Court Turns Down 6 Patent Cases At Start Of Term
The U.S. Supreme Court on Monday rejected six petitions in patent-related cases, taking some of its first actions on intellectual property matters this term.
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October 06, 2025
Justices Won't Review Ex-BigLaw Atty's OneCoin Conviction
The U.S. Supreme Court on Monday declined to take up a former Locke Lord LLP partner's appeal of his conviction and prison sentence for helping launder roughly $400 million in proceeds from the infamous OneCoin cryptocurrency scheme.
Expert Analysis
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How Trump Admin Treasury Policies Are Reaching Banks
The Treasury Department has emerged as an important facilitator of the Trump administration's financial policies affecting banks, which are now facing deregulation domestically and the use of international economic authorities in cross-border trade and investment, say attorneys at Davis Polk.
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Series
My Opera And Baseball Careers Make Me A Better Lawyer
Though participating in opera and the world of professional baseball often pulls me away from the office, my avocations improve my legal career by helping me perform under scrutiny, prioritize team success, and maintain joy and perspective at work, says Adam Unger at Herrick Feinstein.
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A Look At DOJ's Dropped Case Against Early Crypto Operator
The prosecution of an early crypto exchange operator over alleged unlicensed money transmission was recently dropped in Indiana federal court, showcasing that the U.S. Justice Department may be limiting the types of enforcement cases it will bring against digital asset firms, say attorneys at Greenberg Traurig.
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Policy Shifts Bring New Anti-Money Laundering Challenges
In the second half of 2025, the U.S. anti-money laundering regulatory landscape is poised for decisive shifts in enforcement priorities, compliance expectations and legislative developments — so investment advisers and other financial institutions should take steps to prepare for potential new obligations and areas of risk, say attorneys at Linklaters.
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8 Ways Lawyers Can Protect The Rule Of Law In Their Work
Whether they are concerned with judicial independence, regulatory predictability or client confidence, lawyers can take specific meaningful actions on their own when traditional structures are too slow or too compromised to respond, says Angeli Patel at the Berkeley Center of Law and Business.
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Assessing New Changes To Texas Officer Exculpation Law
Consistent with Texas' recent modernization of its corporate law, the recently passed S.B. 2411 allows officer exculpation, streamlines certificate of formation amendments, authorizes representatives to act on shareholders' behalf in mergers and makes other changes aimed toward companies seeking a more codified, statutory model of corporate governance, say attorneys at Bracewell.
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Series
Law School's Missed Lessons: Communicating With Clients
Law school curricula often overlook client communication procedures, and those who actively teach this crucial facet of the practice can create exceptional client satisfaction and success, says Patrick Hanson at Wiggam Law.
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Trending At The PTAB: Shifts In Parallel Proceedings Strategy
Dynamics are changing between the Patent Trial and Appeal Board and federal courts, with two recent discretionary denials and one Federal Circuit decision offering takeaways for both patent owners and challengers navigating parallel proceedings, say attorneys at Finnegan.
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How State AG Consumer Finance Enforcement Is Expanding
As the Consumer Financial Protection Bureau becomes less active, state attorneys general are increasingly shaping the enforcement landscape for consumer financial services — and several areas of focus have recently emerged, say attorneys at Morgan Lewis.
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Series
Adapting To Private Practice: From US Rep. To Boutique Firm
My transition from serving as a member of Congress to becoming a partner at a boutique firm has been remarkably smooth, in part because I never stopped exercising my legal muscles, maintained relationships with my former colleagues and set the right tone at the outset, says Mondaire Jones at Friedman Kaplan.
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2025's First Half Brings Regulatory Detours For Fintechs
The first half of the year has resulted in a bifurcated regulatory environment for fintechs, featuring narrowed enforcement in some areas, heightened scrutiny in others and a policy window that, with proper compliance, offers meaningful opportunities for innovation, say attorneys at Sheppard Mullin.
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Opinion
Senate's 41% Litigation Finance Tax Would Hurt Legal System
The Senate’s latest version of the Big Beautiful Bill Act would impose a 41% tax on the litigation finance industry, but the tax is totally disconnected from the concerns it purports to address, and it would set the country back to a time when small plaintiffs had little recourse against big defendants, says Anthony Sebok at Cardozo School of Law.
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Comparing Stablecoin Bills From UK, EU, US And Hong Kong
For multinational stablecoin issuers, navigating the differences and similarities among regimes in the U.K., EU, Hong Kong and U.S., which are currently unfolding in several key ways, is critical to achieving scalable, compliant operations, say attorneys at Morgan Lewis.
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What Baseball Can Teach Criminal Attys About Rule Of Lenity
Judges tend to assess ambiguous criminal laws not unlike how baseball umpires approach checked swings, so defense attorneys should consider how to best frame their arguments to maximize courts' willingness to invoke the rule of lenity, wherein a tie goes to the defendant, says Jonathan Porter at Husch Blackwell.
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Series
Performing As A Clown Makes Me A Better Lawyer
To say that being a clown in the Macy’s Thanksgiving Day Parade has changed my legal career would truly be an understatement — by creating an opening to converse on a unique topic, it has allowed me to connect with clients, counsel and even judges on a deeper level, says Charles Tatelbaum at Tripp Scott.