Fintech

  • May 01, 2025

    SEC Drops Case Against Crypto Promoter Ian Balina

    The U.S. Securities and Exchange Commission moved Thursday to drop its suit over cryptocurrency influencer Ian Balina's alleged promotion of so-called SPRK tokens, about a month after Balina's attorneys said the federal regulator planned to walk away from the case.

  • May 01, 2025

    FINRA Fines Interactive Brokers Over Complaint Reporting

    The Financial Industry Regulatory Authority announced online broker-dealer Interactive Brokers LLC will pay $400,0000 to settle claims it failed to report regulatory complaints and customer grievances regarding the functionality of its virtual platform to FINRA over an 11-year period.

  • May 01, 2025

    FinCEN Targets Cambodian Firm As Crypto Money Launderer

    The U.S. Department of the Treasury's financial crimes watchdog on Thursday called out Cambodia-based Huione Group as a primary money laundering concern and proposed to "sever its access to the U.S. financial system" due to its alleged laundering of $4 billion worth of crypto scam and other illicit proceeds.

  • May 01, 2025

    CFPB, Lenders Float Deal To Vacate Medical Debt Rule

    The Consumer Financial Protection Bureau has agreed to a proposed consent judgment that would vacate a Biden-era rule banning an estimated $49 billion in medical debt from credit reports, striking a deal with lender trade groups that sued in Texas federal court to block the rule.

  • May 01, 2025

    Crypto Influencer Launches SPAC As 2 Acquirers Tap Market

    A special purpose acquisition company led by crypto influencer Anthony Pompliano and advised by Reed Smith LLP has filed for an initial public offering to raise $200 million, while two other blank-check companies eyeing the fintech and tech sectors have raised more than $400 million combined.

  • May 01, 2025

    AT&T Win Is FDIC's Loss On In-House Cases, 5th Circ. Told

    A banker challenging the Federal Deposit Insurance Corp.'s use of in-house proceedings to level a fraud judgment against him told the Fifth Circuit that its recent decision overturning a $57 million Federal Communications Commission fine against AT&T confirms that the FDIC cannot rely on a "public rights" exemption to impose fines without a jury trial.

  • May 01, 2025

    4th Circ. Affirms Ex-Crypto COO's Fraud Conviction

    The Fourth Circuit found no error in a former cryptocurrency executive's conviction for fraud and conspiracy related to his time working at a foreign currency and cryptocurrency trading investment firm that the panel said was actually just a Ponzi scheme that never made any trades.

  • May 01, 2025

    Sony Eyes $49B Semiconductor Unit Sale, Plus More Rumors

    Sony could sell its semiconductor unit for $49 billion, while proxy advisory firm Glass Lewis is considering ending its practice of advising shareholder votes on politically charged topics, and AI startup Nscale plans to raise $2.7 billion in private capital to support the construction of data centers around the world.

  • April 30, 2025

    House GOP Bill To Cut CFPB Budget, Audit Board Clears Panel

    The U.S. House Financial Services Committee on Wednesday approved Republican budget legislation that would strip most funding from the Consumer Financial Protection Bureau and wind down an independent audit regulator for public companies.  

  • April 30, 2025

    CFPB Scraps More Cases, Curbs Small Biz Loan Rule Focus

    The Consumer Financial Protection Bureau on Wednesday abandoned more lawsuits, including its Fifth Circuit appeal over a Biden-era policy that expanded the agency's anti-discrimination scrutiny of financial firms, and said it will not focus on enforcing a contested small business lending rule.

  • April 30, 2025

    Fed. Circ. Upholds PayPal, Apple Patent Wins Over Fintiv Inc.

    PayPal Holdings Inc. successfully persuaded the Federal Circuit on Wednesday to uphold the invalidation of Fintiv Inc. mobile wallet patents it's accused of infringing, which then led to Apple Inc. beating a related appeal. 

  • April 30, 2025

    Citadel Securities Gives SEC Regulatory Wish List

    Citadel Securities LLC released a white paper Wednesday that lays out policy recommendations for the U.S. Securities and Exchange Commission and the exchanges it regulates, calling on the agency to address concerns tied to secretive trading rooms as well as 24-hour buying and selling.

  • April 30, 2025

    Website Operators Challenge $102M FTC Judgment

    Two former executives of On Point Global LLC urged the Eleventh Circuit to reverse a civil contempt sanction of $102 million for violating a prior injunction, arguing that the lower court should have held a hearing to allow them to present evidence in their favor.

  • April 30, 2025

    Activant Unit Seeks $7.5M Fee After $37M Bolt Suit Win

    An Activant Capital Group fund has petitioned Delaware's Court of Chancery to approve a $7.5 million company-paid corporate benefit fee, citing a successful battle for cancellation of more than $37 million in Bolt Financial Group shares held by a controller who defaulted on a more-than $30 million company-guaranteed loan.

  • April 30, 2025

    Coinbase Urges Justices To Take User's IRS Data Seizure Suit

    Crypto exchange Coinbase on Wednesday urged the U.S. Supreme Court to firm up privacy rights around digital information stored with third parties, backing a petition by a Coinbase user who's challenging the Internal Revenue Service's seizure of his account records.

  • April 30, 2025

    Feds Barred From Reviving 'Unlawful' Tornado Cash Sanctions

    A Texas federal judge has permanently barred the U.S. Department of the Treasury from enforcing its now-dissolved sanctions on crypto mixer Tornado Cash after the advocates who challenged the designation argued the government's removal of the sanctions wasn't enough.

  • April 30, 2025

    Kirkland, Latham Lead Chinese Online Insurer's $30M US IPO

    Shares of Chinese online insurance distributor Yuanbao Inc. rallied in debut trading Wednesday after it priced a $30 million initial public offering at the top of its range, represented by Kirkland & Ellis LLP and underwriters' counsel Latham & Watkins LLP, as more companies test a shaky U.S. IPO market.

  • April 29, 2025

    Ex-CFPB Senior Attys Sign On With Democracy Forward

    Democracy Forward, a legal advocacy group that's emerged as a top court brawler with the Trump administration, said Tuesday that it has hired several more of the Consumer Financial Protection Bureau's recently departed senior litigators, adding to its ranks of agency alums.

  • April 29, 2025

    SEC Abandons Investigation Into PayPal's Dollar Stablecoin

    The U.S. Securities and Exchange Commission has dropped its investigation into PayPal's dollar-pegged stablecoin "without enforcement action," PayPal said in a disclosure filed Tuesday, the latest cryptocurrency probe abandoned by the agency under President Donald Trump's administration.

  • April 29, 2025

    FTX Ch. 11 Trust Asks To Keep Customer Info Confidential

    In a just-under-the-wire move, the FTX bankruptcy recovery trust has sought a seventh extension for a mid-2023 ruling by the U.S. Bankruptcy Court for the District of Delaware allowing confidential treatment of its 9 million customers' information, citing the data's continued value to the estate.

  • April 29, 2025

    Kim Kardashian, Celebs Challenge Crypto Buyers' Cert. Bid

    The co-founder of the EthereumMax crypto token and celebrities who allegedly promoted the offering told a California federal judge that a group of spurned buyers should not be able to certify their class action since they have not provided a way to determine how many transactions would fall in each category.

  • April 29, 2025

    Perkins Coie Leads 2 SPAC Listings Raising $300M Combined

    Two special-purpose acquisition companies, under similar leadership teams and represented by Perkins Coie LLP, began trading Tuesday after pricing initial public offerings that raised a combined $300 million. 

  • April 29, 2025

    Watchdog Will Probe Trump Admin's Push To Shrink CFPB

    The U.S. Government Accountability Office will look into whether the Trump administration's aggressive downsizing efforts have rendered the Consumer Financial Protection Bureau unfit for duty, agreeing to a review sought by Democratic lawmakers.

  • April 29, 2025

    OKCoin Says Crypto Holders Can't Tie Firm To $2M Theft

    Digital asset exchange OKCoin and its affiliates urged a California federal judge to dismiss a proposed class action accusing them of enabling cryptocurrency thieves, arguing the real cause of the plaintiffs' losses was the initial theft, not any actions by the exchange.

  • April 29, 2025

    Fla. Bitcoin Scammer Warned That 20-Year Sentence On Table

    A Manhattan federal judge told a Florida bitcoin scammer on Tuesday that he may face 20 years for refusing to repay $20 million to an entrepreneur whose cryptocurrency he stole, citing the defendant's alleged preference for doing time over making restitution.

Expert Analysis

  • How Latin American Finance Markets May Shift Under Trump

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    Changes in the federal government are bringing profound implications for Latin American financial institutions and cross-border financing, including increased competition from U.S. banks, volatility in equity markets and stable green investor demand despite deregulation in the U.S., says David Contreiras Tyler at Womble Bond.

  • Series

    Improv Makes Me A Better Lawyer

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    Improv keeps me grounded and connected to what matters most, including in my legal career where it has helped me to maintain a balance between being analytical, precise and professional, and creative, authentic and open-minded, says Justine Gottshall at InfoLawGroup.

  • How BigLaw Executive Orders May Affect Smaller Firms

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    Because of the types of cases they take on, solo practitioners, small law firms and public interest attorneys may find themselves more dramatically affected by the collective impact of recent government action involving the legal industry than even the BigLaw firms named in the executive orders, says Reuben Guttman at Guttman Buschner.

  • Opinion

    Lawsuits Shouldn't Be Shadow Assets For Foreign Capital

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    Third-party litigation financing amplifies inefficiencies from litigation and facilitates national exposure to foreign influence in the U.S. justice system, so full disclosure of financing arrangements should be required as a matter of institutional integrity, says Roland Eisenhuth at the American Property Casualty Insurance Association.

  • How To Accelerate Your Post-Attorney Career Transition

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    Professionals seeking to transition to nonattorney careers may encounter skepticism as nontraditional candidates, but there are opportunities for thought leadership and to leverage speaking and writing to accelerate a post-attorney career transition, say Janet Falk at Falk Communications and Evgeny Efremkin at Toronto Metropolitan University.

  • 3 Action Items For Innovators Amid Fintech Regulatory Pivot

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    As the federal banking agencies seek to smooth the way for banks to engage in crypto-related activities, banks and technology companies should take note of this new chapter in payments services, especially as leadership in digital financial technology becomes a national priority, says Jess Cheng at Wilson Sonsini.

  • Opinion

    GENIUS Act Can Bring Harmony To Crypto-Banking Discord

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    ​​​​​​​By embracing crypto innovation while establishing appropriate guardrails, the so-called GENIUS Act charts a path forward that promotes financial inclusion and technological advancement without compromising stability or constitutional rights, says J.W. Verret at George Mason University's Antonin Scalia Law School.

  • Series

    Law School's Missed Lessons: Be An Indispensable Associate

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    While law school teaches you to research, write and think critically, it often overlooks the professional skills you will need to make yourself an essential team player when transitioning from a summer to full-time associate, say attorneys at Stinson.

  • Mass. AG Emerges As Key Player In Consumer Protection

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    Through enforcement actions and collaborations with other states — including joining a recent amicus brief decrying the defunding of the Consumer Financial Protection Bureau — Massachusetts Attorney General Andrea Campbell has established herself as a thought leader for consumer protection and corporate accountability, say attorneys at Troutman Pepper.

  • Series

    Birding Makes Me A Better Lawyer

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    Observing and documenting birds in their natural habitats fosters patience, sharpens observational skills and provides moments of pure wonder — qualities that foster personal growth and enrich my legal career, says Allison Raley at Arnall Golden.

  • Series

    Calif. Banking Brief: All The Notable Legal Updates In Q1

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    Among the most notable developments in California banking in the first quarter of the year, regulators and legislators issued regulations interpreting debt collection laws, stepped up enforcement actions, and expanded consumer protections for those affected by wildfires, says Stephen Britt at Severson & Werson.

  • Inside State AGs' Arguments Defending The CFPB

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    Recent amicus briefs filed by a coalition of 23 attorneys general argue that the Trump administration's efforts to dismantle the Consumer Financial Protection Bureau will irreparably harm consumers in several key areas, making clear that states are preparing to fill in any enforcement gaps, say attorneys at Kelley Drye.

  • Series

    Adapting To Private Practice: From DOJ Leadership To BigLaw

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    The move from government service to private practice can feel like changing one’s identity, but as someone who has left the U.S. Department of Justice twice, I’ve learned that a successful transition requires patience, effort and the realization that the rewards of practicing law don’t come from one particular position, says Richard Donoghue at Pillsbury.

  • Series

    NY Banking Brief: All The Notable Legal Updates In Q1

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    The most noteworthy developments from the first quarter of the year in New York financial services include newly proposed regulations on overdraft fees, a groundbreaking settlement by the state attorney general, and a potentially precedent-setting opinion regarding the Electronic Fund Transfer Act, say attorneys at Quinn Emanuel.

  • SEC Crypto Mining Statement Delivers Regulatory Clarity

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    The U.S. Securities and Exchange Commission's March 20 statement clarifying that certain crypto mining activities do not constitute the offer and sale of securities marks the end of the SEC's enforcement-first approach and ushers in a more predictable environment for blockchain innovation and investment, says Jeonghoon Ha at Ha Law.

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