FDIC Plans No Pass-Through Stablecoin Insurance, Hill Says

By Jon Hill

Federal Deposit Insurance Corp. Chairman Travis Hill said Wednesday that his agency will propose expressly excluding payment stablecoins from pass-through insurance coverage, outlining the move as part of a wide-ranging update on his to-do list of regulatory initiatives.

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Analysis

Trump Cybercrime Order Creates New Compliance To-Do List

By Phillip Bantz

President Donald Trump's recent executive order calling for a coalition of government agencies to combat cybercrime is far more forceful than efforts under prior administrations, according to white collar lawyers, who tentatively applaud the proposal while warning it could raise new compliance risks.

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Kalshi Sues Iowa Regulators To Shield Sports Event Contracts

By Katryna Perera

Kalshi sued Iowa state regulators Wednesday, seeking to stop the state from taking enforcement action against the prediction market's sports-event contracts, following a script that has played out across several states.

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Dems Float Bill To Ban Death-Tied Event Contracts

By Aislinn Keely

Two Democrats from California are proposing to outlaw event contracts that reference or relate to terrorism, war or an individual's death amid the rise of certain prediction markets involving political shake-ups.

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Fed's Bowman Eyes 'Fine-Tuning' Of Bank Merger Reviews

By Jon Hill

Federal Reserve Vice Chair for Supervision Michelle Bowman said Wednesday that federal regulators are taking a look at the competition metrics used to evaluate bank mergers, signaling potential changes to the thresholds that guide when deals raise antitrust concerns.

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Tether, Bitfinex Appeal Class Cert. In Bitcoin Rigging Suit

By Katryna Perera

Digital asset companies Tether and Bitfinex have petitioned the Second Circuit to review a New York federal judge's recent decision granting class certification to two classes of investors in a suit accusing the companies of rigging the cryptocurrency market and costing investors hundreds of billions of dollars.

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Investor Says JPMorgan Enabled $328M Crypto Scam

By Carolina Bolado

A proposed class suit filed Tuesday in California federal court accuses JPMorgan Chase Bank NA of enabling a $328 million cryptocurrency scam at Florida-based Goliath Ventures Inc.

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GreenSky, Ex-Workers Settle Wage Claims Amid Arbitration

By Chart Riggall

GreenSky LLC told a Georgia federal court Wednesday it's reached a settlement in a wage suit from former customer service employees a month after the fintech company won a bid to force the suit into arbitration.

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Fintech Lender Hit With 2nd Suit Over Cyberattack

By Isaac Monterose

A proposed class has accused a blockchain-based lender in North Carolina federal court of failing to protect their personally identifiable information from hackers, the second such lawsuit the company is facing over a recent data breach.

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Why The NCUA's Stablecoin Moment Matters

The National Credit Union Administration, a historically conservative federal agency, recently proposed a detailed stablecoin licensing framework, confirming that the proposition of building a regulatory architecture within the banking industry has moved well past "whether" and firmly into "how," says Stephen Aschettino at Fox Rothschild.

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Del. Coinbase Outcome May Have Been Different In Texas

The Delaware Court of Chancery's recent decision in Grabski v. Andreessen, finding that a member of the Coinbase special litigation committee was not independent, provides guidance for Delaware boards regarding the formation, composition and operation of SLCs, while offering a counterpoint to the procedures available to Texas-incorporated companies, says John Lawrence at Baker Botts.

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4th Circ. Scolds Atty Suspected Of Using AI In Race Bias Suit

By Patrick Hoff

The Fourth Circuit has reprimanded an attorney suspected of using generative artificial intelligence to draft briefs in a race discrimination lawsuit against Baltimore Gas and Electric Co., warning that courts need to grapple with the technology as it "may soon become the norm."

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Democrats Seek Review Of Bondi's Role In Brother's Cases

By Alison Knezevich

Two Democratic lawmakers have asked the U.S. Department of Justice's inspector general to review whether Attorney General Pam Bondi "adequately recused herself" from cases involving clients represented by her brother Brad Bondi, who is a partner at Paul Hastings LLP.

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Sinema Says Tryst With Ex-Guard Not In NC Court's Reach

By Abigail Harrison

Former U.S. Sen. Kyrsten Sinema, now a Hogan Lovells attorney, told a North Carolina federal court Thursday that a lawsuit alleging her cross-country affair with a former member of her security detail ended a 14-year marriage must be dismissed because the trysts occurred outside state borders.

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Ex-Judge Testifies About Alleged Forgeries In Amazon Case

By Kelcey Caulder

The former chief judge of the U.S. District Court for the Northern District of Georgia testified Thursday about the alleged forging of court documents, signatures and court stamps in a criminal case against a woman accused of defrauding Amazon out of $9.4 million through fraudulent invoices. 

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Judge Newman Takes Suspension Battle To Supreme Court

By Ryan Davis

Federal Circuit Judge Pauline Newman brought her fight against a suspension imposed on her by her colleagues to the U.S. Supreme Court on Thursday, arguing that a lower court wrongly held that her challenges to the order are not subject to judicial review.

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Calif. Bar Says Internal Docs Bolster Claims Against Exam Co.

By Emily Sawicki

The State Bar of California has bulked up its breach of contract and fraud suit against the administrator of its "disastrous" February 2025 bar exam, filing an amended complaint in light of information it says it learned from internal communications unearthed amid discovery.

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Holyoak's US Attorney Nomination Advances

By Courtney Bublé

The nomination of Melissa Holyoak, former commissioner of the Federal Trade Commission, to be U.S. attorney for the District of Utah was sent to the full Senate on Thursday.

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CFTC Takes 1st Steps Toward Prediction Market Regulations

By Jessica Corso

The U.S. Commodity Futures Trading Commission opened the door Thursday to promised prediction market regulation, calling for public feedback on what such rules might look like while laying out the staff's view on the current rules that the platforms should follow in order to offer betting on sports and other events.

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