An interactive online resource covering the UK’s rapidly evolving cryptoasset landscape.
By Stuart Davis, Gabriel Lakeman, and Emma Trankeenan
Latham & Watkins has launched the UK Cryptoasset Regulatory Tracker, a new online resource that provides cryptoasset businesses with critical information to help them navigate the latest regulatory developments in cryptoassets.
The UK framework for cryptoassets is shifting, with significant regulatory and legislative developments expected in 2026. The UK government has published draft legislation for cryptoassets, which
Spain follows the trajectory of other EU Member States that have similarly recalibrated their transitional periods since ESMA first published its consolidated list.
By Gabriel Lakeman, Paloma Arizón, and Ivan Pizeta
On 1 December 2025, the European Securities and Markets Authority (ESMA) published an updated list of grandfathering periods decided by EU Member States under the Markets in Crypto-Assets Regulation (MiCA). These transitional periods enable firms currently providing services pursuant to pre-MiCA Virtual Asset Service Provider (VASP) registrations
The first of what may be a series of crypto no-action letters supports the view that programmatic token distributions serving as network incentives are not securities.
By Jenny Cieplak, Paul M. Dudek, Zachary Fallon, Stephen P. Wink, Hank Balaban, Daphne Lambadariou, and Deric Behar
On September 29, 2025, the SEC Division of Corporation Finance issued a no-action letter (NAL) stating that it would not recommend enforcement against a certain foundation company and blockchain token
The agencies pledge to “usher in a new era of innovation” through a collaboration on rules and exemptions that aims to provide digital asset markets with clarity.
By Stephen P. Wink, Zachary Fallon, Yvette D. Valdez, Douglas K. Yatter, Jenny Cieplak, Adam Bruce Fovent, and Deric Behar
The SEC’s Project Crypto and the CFTC’s Crypto Sprint were launched over the summer to implement the recommendations of the President’s Working Group on Digital Asset Markets
The FDIC seeks to avoid overburdening financial services providers with regulations regarding its logo after assessing market feedback and implementation issues.
By Arthur S. Long, Parag Patel, Pia Naib, Connor Jobes, and Deric Behar
On August 19, 2025, the Federal Deposit Insurance Corporation (FDIC) board of directors approved a proposed rule (the Proposal) that would amend signage requirements for insured depository institutions’ banking channels, including digital and online banking. The Proposal seeks to revise a 2023
DOJ will focus on criminal intent over mere code creation, seeking to balance legal accountability with support for innovation.
By Zachary Fallon, Jack McNeily, Benjamin Naftalis, Parag Patel, Barrie VanBrackle, Eric S. Volkman, Stephen P. Wink, Iris Xie, Douglas K. Yatter, and Deric Behar
On August 21, 2025, Acting Assistant Attorney General of the Criminal Division of the Department of Justice (DOJ), Matthew Galeotti, gave a speech at the American Innovation
The Staff provides the market with additional crypto clarity, holding that liquid staking does not qualify as a security under the Howey test.
By Jenny Cieplak, Zachary Fallon, Yvette D. Valdez, Stephen P. Wink, Hank Balaban,* Adam Bruce Fovent, Daphne Lambadariou, and Deric Behar
On August 5, 2025, the SEC’s Division of Corporation Finance (the Staff or Division) published a Statement on Certain Liquid Staking Activities clarifying that, in the Staff’s view, liquid