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2 months ago | 
lexology.com | Alexander Drylewski |Margaret E. Krawiec |Darren Welch |Bryan Burcat |Todd Kelly
For years, the Securities and Exchange Commission (SEC) and Commodity Futures Trading Commission (CFTC) have actively policed digital asset markets, bringing enforcement actions based on alleged failure to register products and services, and, in some instances, engaging in fraudulent activities aimed at retail consumers.
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Jan 15, 2025 | 
jdsupra.com | Mark Chorazak |Adam Cohen |Alexander Drylewski
Key Points A Republican president and Congress are expected to be more supportive of digital assets than the current administration. There is a reasonable chance that legislation creating a regulatory framework for cryptocurrencies will advance. Under Republican SEC chair nominee Paul Atkins, the SEC is expected to be less aggressive in enforcement in the crypto field and favor a more strategic approach.
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Jan 10, 2025 | 
reuters.com | Alexander Drylewski |Daniel William Michael |Shaud Tavakoli
Alexander C. Drylewski, Daniel Michael and Shaud G. Tavakoli of Skadden, Arps, Slate, Meagher & Flom LLP discuss lawsuits against the Securities and Exchange Commission concerning the purchase and sale of crypto assets and a potential shift in enforcement activity with a change in administration.
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May 22, 2024 | 
lexology.com | Anita Bandy |Arthur Bookout |James Carroll |Christopher Clark |Eben P. Colby |Abigail Davis | +27 more
Key PointsOn April 12, 2024, the U.S. Supreme Court unanimously reversed and vacated the Second Circuit’s decision in Macquarie Infrastructure Corp. v. Moab Partners LP.
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Jan 30, 2024 | 
jdsupra.com | Alexander Drylewski |Joseph Kamyar |Stuart D. Levi
SEC Wins Summary Judgment on Howey Issue in Terraform Litigation The UK Digital Securities Sandbox: Relaxing the Regulatory Environment for UK FintechsSEC Wins Summary Judgment on Howey Issue in Terraform LitigationOn December 28, 2023, Judge Jed Rakoff in the Southern District of New York issued a summary judgment decision in SEC v. Terraform Labs Pte.
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Sep 26, 2023 | 
lexblog.com | Alexander Drylewski |Stuart D. Levi |David Meister |Daniel William Michael
On September 7, 2023, the Commodity Futures Trading Commission (CFTC) issued three enforcement settlement orders against developers of decentralized finance (DeFi) protocols.1 The orders charge Opyn, Inc., Deridex, Inc., and ZeroEx, Inc.
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Sep 20, 2023 | 
jdsupra.com | Alexander Drylewski |Stuart D. Levi |David Meister
On September 7, 2023, the Commodity Futures Trading Commission (CFTC) issued three enforcement settlement orders against developers of decentralized finance (DeFi) protocols.1 The orders charge Opyn, Inc., Deridex, Inc., and ZeroEx, Inc.
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Apr 4, 2023 | 
jdsupra.com | Alexander Drylewski |Stuart D. Levi
A March 27, 2023, decision by a California federal court in a putative class action, Sarcuni v. bZx DAO, has brought into focus how courts might construe the legal existence of decentralized autonomous organizations (DAOs). The bZx DAO case concerns the same decentralized finance (DeFi) protocol, bZx, that was the subject of an earlier Commodity Futures Trading Commission (CFTC) enforcement action.
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Mar 15, 2023 | 
reuters.com | Alexander Drylewski |Merin Cherian
March 15, 2023 - As the Securities and Exchange Commission ("SEC") continues to assert jurisdiction over digital assets primarily through enforcement actions, it has placed an unlikely target in its sights — stablecoins. On Feb. 16, 2023, the SEC filed a litigated enforcement action against Terraform Labs and its CEO, Do Kwon, for allegedly devising a multibillion-dollar crypto asset securities fraud that resulted in substantial losses for U.S. retail and institutional investors.
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Mar 15, 2023 | 
today.westlaw.com | Alexander Drylewski |Merin Cherian
(March 15, 2023) - Alexander Drylewski and Merin Cherian of Skadden, Arps, Slate, Meagher & Flom LLP examine Securities and Exchange Commission enforcement actions involving stablecoins and the extent to which crypto assets fall within the definition of a security. As the Securities and Exchange Commission ("SEC") continues to assert jurisdiction over digital assets primarily through enforcement actions, it has placed an unlikely target in its sights — stablecoins. On Feb.
