An executive order and related legislation centralizes Bitcoin and digital asset holdings across the federal government to optimize oversight and management of crypto as a US reserve asset.
By Jenny Cieplak, Zachary Fallon, Arthur S. Long, Yvette D. Valdez, Stephen P. Wink, Connor Jobes, and Deric Behar
On March 6, 2025, President Trump issued an executive order for the “Establishment of the Strategic Bitcoin Reserve and United States Digital Asset Stockpile” (the Order). As
In a break from restrictive Biden-era policies, OCC-supervised banks may now engage in crypto without supervisory nonobjection, potentially opening new avenues for innovation.
By Arthur S. Long, Parag Patel, Pia Naib, and Deric Behar
On March 7, 2025, the Office of the Comptroller of the Currency (OCC) reaffirmed that national banks and federal savings associations (collectively, banks) may participate in a range of cryptocurrency activities, including crypto custody, certain stablecoin activities, and participation in independent node verification
The Staff stated that most meme coins are not subject to federal securities laws or SEC fraud enforcement; who will oversee meme coins remains an open question.
By Jenny Cieplak, Zachary Fallon, Ghaith Mahmood, Yvette D. Valdez, Stephen P. Wink, and Deric Behar
On February 27, 2025, the Securities and Exchange Commission’s (SEC’s) Division of Corporation Finance published a Staff Statement on Meme Coins (the Statement). The Statement is the first tangible clarification of how
Stablecoin regulation is a top priority for lawmakers, and three recent proposals reflect differing perspectives on how to achieve regulatory clarity while balancing safety and innovation.
By Jenny Cieplak, Arthur Long, Yvette D. Valdez, Stephen P. Wink, Pia Naib, Connor Jobes, and Deric Behar
In the wake of President Trump’s executive order on digital assets aiming to make the US the “crypto capital of the planet” (for more information, see this Latham blog post
The new unit aims to protect retail investors and foster innovation by addressing cyber-related misconduct and emerging technology fraud.
By Margaret Graham, Michael H. Rubin, Nathan H. Seltzer, and Douglas K. Yatter
On February 20, 2025, the Securities and Exchange Commission (SEC) announced the establishment of the Cyber and Emerging Technologies Unit (CETU), which will focus on combatting cyber-related misconduct and protecting retail investors from fraud in the emerging technologies sector. The new unit, led by Laura
The SEC’s move is part of a recent shift toward a less enforcement-centric approach that is set to reshape the regulatory framework for digital assets in the US.
By Stephen P. Wink, Naim Culhaci, and Deric Behar
On February 20, 2025, the US Securities and Exchange Commission (SEC) voluntarily dismissed its appeal against a pair of related decisions by the US District Court for the Northern District of Texas to vacate the SEC’s Rules 3a5-4 and 3a44-2 (together
In an opinion post for a16z crypto, Latham lawyer Jenny Cieplak calls for a new regulatory approach for tokenized securities.
A significant number of projects over the past several years have “tokenized” so-called real world assets, turning more than $20 billion in everything from debt to diamonds and more into tokens. Tokenization may sound like some kind of mysterious alchemy, but the concept is simple: It means creating a digital representation of some physical thing — a
Commissioner Hester Peirce outlined 10 priorities for the Crypto Task Force, aiming for regulatory clarity while promoting innovation in digital asset markets.
By Jenny Cieplak, Zachary Fallon, Yvette D. Valdez, Stephen P. Wink, and Deric Behar
On February 4, 2025, Commissioner Hester Peirce, leader of the Securities and Exchange Commission’s (SEC’s) newly established Crypto Task Force (the Task Force), published a statement outlining the Task Force’s main areas of focus. She noted that the list is
With its pro-crypto stance and urgent posture, the executive order promises to make the US the “crypto capital of the planet.”
By Jenny Cieplak, Zachary Fallon, Arthur Long, Yvette D. Valdez, Stephen P. Wink, Douglas K. Yatter, and Deric Behar
On January 23, 2025, President Trump issued a highly anticipated executive order on digital assets titled “Strengthening American Leadership in Digital Financial Technology” (the Order). The Order asserts at the outset that the digital asset industry is critical for US innovation, economic development, and international leadership. It further undertakes “to support the responsible growth and use of digital assets, blockchain technology, and related technologies across all sectors of the economy. …”
Highlights of the Order are outlined below.
The CFPB’s proposal, its first attempt to regulate cryptocurrencies and stablecoins, is unlikely to survive the administration change.
By Parag Patel, Adam Bruce Fovent, and Deric Behar
On January 10, 2025, the Consumer Financial Protection Bureau (CFPB) issued a proposed interpretative rule that would extend the consumer protections of the Electronic Funds Transfer Act (EFTA) to certain stablecoin and other virtual currency accounts, video game accounts, and credit card rewards points accounts (the Proposed Interpretation).1 In issuing