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Fintech
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April 11, 2025
SEC, Ripple Put 2nd Circ. Case On Ice To Confirm Resolution
Blockchain firm Ripple Labs and the U.S. Securities and Exchange Commission told the Second Circuit to put their respective appeals on ice as they seek commission approval for an agreement to end the landmark enforcement action.
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April 11, 2025
NFT Owner Admits To Dodging Tax On Crypto Art Sales
A Pennsylvania man pled guilty to filing false tax returns and underreporting his income by $13.1 million after selling 97 nonfungible token artworks, federal prosecutors said Friday.
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April 11, 2025
Did DOJ Bless A Crypto Free-For-All? Think Again, Attys Say
The Justice Department's move to scale back cryptocurrency enforcement and dissolve its crypto fraud investigations unit isn't exactly a "get-out-of-jail-free card" for industry players who commit crimes using digital assets, experts say.
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April 11, 2025
Fox Rothschild Hires Familiar Corporate Partner In Boston
Fox Rothschild LLP has expanded its Boston office with the addition of a Withers mergers and acquisitions attorney and corporate partner, who noted his path to the firm was shaped years ago, when he sat across the negotiation table from its lawyers on a memorable deal.
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April 11, 2025
Taxation With Representation: Norton Rose, Ropes & Gray
In this week's Taxation With Representation, Capri Holdings sells Versace to Prada, Woodside Energy sells a liquefied natural gas terminal stake to Stonepeak, crypto infrastructure firm Ripple acquires prime brokerage platform Hidden Road, and Bain Capital takes a stake in Lincoln Financial.
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April 10, 2025
Senate Dems Press Fed's Bowman On Political Independence
President Donald Trump's pick for Federal Reserve supervision czar told senators on Thursday that the central bank should have independence to set monetary policy, but she declined to say whether its regulatory policy should be subject to White House review.
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April 10, 2025
Grayscale Settles Bitcoin Rival's Conn. Biz Interference Suit
Cryptocurrency firm Osprey Funds LLC and its larger digital asset management rival Grayscale Investments LLC have agreed to settle a lawsuit over the transition of a Grayscale bitcoin investment trust into an exchange-traded fund, or ETF.
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April 10, 2025
YouTuber Defends Calling Logan Paul Crypto Project A 'Scam'
A YouTuber who called social media personality Logan Paul's failed crypto project a "scam" objected to a magistrate judge's recommendation to keep Paul's defamation claims in play, arguing the word has no objective definition.
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April 10, 2025
Nevada Can't Sue Kalshi Over Sports, Elections Betting
A Nevada federal judge has ruled that the state cannot prohibit online trading platform KalshiEx LLC from allowing users to place bets on the outcome of sports events and elections because both are currently permitted under federal law, preventing the state from pursuing legal action against the company.
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April 10, 2025
Texas Group Seeks Halt Of Trump Admin Border Cash Order
A Texas trade group has urged a federal judge to immediately block the Trump administration's order singling out cash-moving businesses along the southwest border for heightened anti-money laundering reporting, saying the order is unjustified and discriminates against businesses that serve predominately Latino immigrant communities.
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April 10, 2025
NY AG Calls For 'Common-Sense' Rules In Crypto Legislation
New York Attorney General Letitia James sent a letter to leaders of both chambers of Congress on Thursday urging them to ensure that any crypto legislation includes strong guardrails to protect consumers, national security and market stability.
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April 10, 2025
Binance A Crypto Laundering 'Get-Away Driver,' Suit Says
A group of cryptocurrency owners who said they were targeted by online thieves and ransomware have filed a proposed class action alleging the cryptocurrency exchange Binance ran a loose ship that provided the cybercriminals with a platform to launder and hide the stolen property.
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April 10, 2025
Fla. Judge Won't Revisit 'Let's Go Brandon' Coin Class Cert.
A Florida federal judge won't reconsider his partial certification of a class of purchasers of meme-inspired cryptocurrency LGBCoin in a suit alleging the price of the tokens cratered after its much-hyped plan to sponsor the coin's eponymous NASCAR driver fell apart.
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April 10, 2025
No Plan To Trim Do Kwon Case After Crypto Memo, Feds Say
A U.S. Department of Justice memo outlining the Trump administration's cryptocurrency policy and enforcement priorities has not prompted prosecutors to alter their $40 billion criminal fraud case against Terraform founder Do Kwon, a government lawyer told a Manhattan federal judge Thursday.
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April 10, 2025
NY Fines Block $40M For Cash App Compliance Failures
Jack Dorsey's financial technology firm Block Inc. said Thursday that it will pay a $40 million penalty to New York regulators over allegedly lax anti-money laundering procedures on its payments platform Cash App following a multistate settlement in January over similar alleged violations.
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April 09, 2025
Trump Instructs Agencies To Quietly Repeal Regs If Possible
President Donald Trump on Wednesday directed federal agencies to prioritize repealing regulations that don't comply with a list of recent U.S. Supreme Court decisions regarding, among other things, the environment, administrative courts and affirmative action, instructing them to do so without public notice and comment if possible.
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April 09, 2025
'Evasive' Unions Told To List Fired Probationary Workers
The California federal judge who ordered the reinstatement of many fired probationary federal workers before the U.S. Supreme Court stayed his ruling on Wednesday ordered the public sector unions representing federal staffers to provide a list of their booted members, calling their claims that the information would be difficult to produce "evasive."
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April 09, 2025
Dems Decry 'Industry Wishlist' As House Mulls Crypto Rules
House Democrats on Wednesday sought to keep the Trump family's involvement in crypto ventures and the industry's lobbying efforts in sharp focus as lawmakers began devising market structure legislation for digital assets during a hearing.
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April 09, 2025
Shaq's $11M Deal With NFT Investors Gets Judge's Final OK
Hall of Fame basketball player Shaquille O'Neal and the creators of the Astrals nonfungible token project have received a judge's final approval of an $11 million deal to resolve a proposed securities class action with buyers of the tokens that O'Neal allegedly promoted.
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April 09, 2025
Fed Pick To Call For 'Reformed' Supervision, 'Pragmatic' Rules
President Donald Trump's nominee for a key bank policymaking role at the Federal Reserve will tell senators on Thursday that a back-to-basics "refocusing" of bank supervision and a return to regulatory "tailoring" are among the top priorities she plans to pursue on the job.
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April 09, 2025
Coinbase Judge Won't Rethink Greenlighting Investor Suit
A New Jersey federal judge declined to review his ruling to keep a Coinbase investors' class action alive, saying his order did not gloss over any legal or factual issue when finding the company and its executives must face the suit accusing them of concealing certain regulatory and bankruptcy risks from investors.
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April 09, 2025
Senate Confirms Trump Pick Atkins To Lead A Leaner SEC
The U.S. Senate on Wednesday confirmed Paul Atkins to be the next chair of the U.S. Securities and Exchange Commission, clearing the way for an agency veteran and regulatory critic who is expected to slow the SEC's enforcement agenda and pursue smaller corporate penalties at a time when the agency is grappling with staff cuts and market turmoil.
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April 09, 2025
DC Circ. Seems Open To Narrowing CFPB Injunction
A D.C. Circuit panel seemed divided Wednesday on the Trump administration's bid to stave off a lower court order barring it from shutting down the Consumer Financial Protection Bureau as a U.S. Department of Justice attorney disavowed plans to shutter the agency.
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April 09, 2025
House Slates CFPB Payment, Overdraft Rules For Repeal
The House on Wednesday voted to overturn two Biden-era Consumer Financial Protection Bureau rules aimed at increasing oversight of larger digital payment providers and curbing big-bank overdraft fees, setting the pair up for final repeal at the White House.
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April 09, 2025
Justices Urged To Look At Fed. Circ. Ax Of $13M IP Verdict
A patent-holding company has asked the U.S. Supreme Court to review a Federal Circuit decision that threw out a $13 million jury verdict against NCR Corp. in a suit accusing it of infringing two payment processing patents.
Expert Analysis
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Series
Coaching Little League Makes Me A Better Lawyer
While coaching poorly played Little League Baseball early in the morning doesn't sound like a good time, I love it — and the experience has taught me valuable lessons about imperfection, compassion and acceptance that have helped me grow as a person and as a lawyer, says Alex Barnett at DiCello Levitt.
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How Fintechs Can Respond To New CFPB Supervisory Rule
Even though a new Consumer Financial Protection Bureau rule pulling large payment apps into supervision faces an uncertain fate in the new administration, providers should still examine the rule's definitions and prepare for increased compliance costs and more consumer-friendly practices, say attorneys at DLA Piper.
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5 Litigation Funding Trends To Note In 2025
Lawyers and their clients must be prepared to navigate an evolving litigation funding market in 2025, made more complicated by a new administration and the increasing overall cost of litigation, says Jeffery Lula at GLS Capital.
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Predicting Where State AGs Will Direct Their Attention In 2025
In 2025, we expect state attorneys general will navigate a new presidential administration while continuing to further regulate and police financial services, artificial intelligence, junk fees and antitrust, say attorneys at Troutman Pepper.
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The Blueprint For A National Bitcoin Reserve
The new administration has the opportunity to pave the way for a U.S.-backed crypto reserve, which could conceptually function as a strategic asset akin to traditional reserves like gold markets, hedge against economic instability, and influence global crypto adoption, say attorneys at Duane Morris.
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Student Loan Entities In Hot Seat After CFPB Goes To College
While the direction of student loan servicer oversight in the new presidential administration is unclear, recent Consumer Financial Protection Bureau actions still signal heightened regulatory scrutiny at both the federal and state levels of college institutional loan programs, along with their service providers, says attorney Jonathan Joshua.
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Rethinking Litigation Risk And What It Really Means To Win
Attorneys have a tendency to overestimate litigation risk before summary judgment and underestimate risk after it, but an eight-stage litigation framework can clarify risk at different points and help litigators reassess what true success looks like in any particular case, says Joshua Libling at Arcadia Finance.
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Patent Ruling Sheds Light On Printed Matter Doctrine
Patent attorneys should pay attention to the claim language highlighted in Ioengine v. Ingenico, where the Federal Circuit held that program code was not printed matter, but essentially instructions or content, and therefore not subject to the printed matter doctrine for patent challenges, says Irah Donner at Manatt.
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How DOGE's Bite Can Live Up To Its Bark
All signs suggest that the Department of Government Efficiency will be an important part of the new Trump administration, with ample tools at its disposal to effectuate change, particularly with an attentive Republican-controlled Congress, say attorneys at K&L Gates.
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Small Biz Caught In Corporate Transparency Act Crossfire
Despite compliance being put on hold due to a nationwide preliminary injunction, small businesses have been caught in the middle of the legal battle over the Corporate Transparency Act — and confusion over the law's requirements could result in major penalties, say attorneys at Snell & Wilmer.
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5 Notable Information Security Events In 2024
B. Stephanie Siegmann at Hinckley Allen discusses 2024's largest and most destructive data breaches seen yet, ranging from ransomware disrupting U.S. healthcare systems on a massive scale, to tensions increasing between the U.S. and China over cyberespionage and the control of U.S. data.
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Series
Playing Rugby Makes Me A Better Lawyer
My experience playing rugby, including a near-fatal accident, has influenced my legal practice on a professional, organizational and personal level by showing me the importance of maintaining empathy, fostering team empowerment and embracing the art of preparation, says James Gillenwater at Greenberg Traurig.
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What Broker-Dealers Must Know Before Selling Bitcoin ETPs
Interest in bitcoin exchange-traded products is already high, and only expected to grow in light of the incoming Trump administration's pro-crypto stance, but broker-dealers must still consider numerous regulatory requirements before recommending a bitcoin ETP to a client, say Frank Weigand and Justine Woods at Cahill Gordon.
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Series
Texas Banking Brief: All The Notable Legal Updates In Q4
The fourth quarter of 2024 brought noteworthy developments to the Texas financial services sector, particularly a new state artificial intelligence bill and a Consumer Financial Protection Bureau rule that will affect an outsize number of Texas community banks, says Tyler George at Naman Howell.
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Cyber Disclosure Is A Mainstay In 2025 SEC Exam Priorities
Despite a new administration and a new U.S. Securities and Exchange Commission chair incoming, the SEC's 2025 examination priorities signal that cybersecurity disclosures and risk management practices will remain important due to the growing threat of cyberattacks, says Anjali Das at Wilson Elser.