Laura Pruitt

Oct 21, 2024 | mondaq.com | Nathan S. Brownback |Abradat Kamalpour |Laura Pruitt

The Situation: On September 17, 2024, the Federal Deposit Insurance Corporation ("FDIC") approved a proposed rule ("the Proposal") that would establish new recordkeeping requirements for FDIC-insured depository institutions ("IDIs") with "custodial deposit accounts with transactional features." The Result: The new recordkeeping requirements would be necessary before any covered arrangement would be deemed to qualify for pass-through deposit insurance coverage.

Aug 18, 2023 | mondaq.com | Abradat Kamalpour |Sarah Levine |David Peavler |Laura Pruitt

The Situation: Recently, two judges in Southern District of New York were required to apply the Howey test in separate cases to decide whether sales of certain crypto assets were investment contracts, and thus securities.

Jul 20, 2023 | lexology.com | Kevin Comeau |J. McDonald |David Peavler |Laura Pruitt |Mark Rasmussen |David E. Aron

In ShortThe Situation: In parallel federal actions, the Department of Justice ("DOJ"), Securities and Exchange Commission ("SEC"), Commodity Futures Trading Commission ("CFTC"), and Federal Trade Commission ("FTC") brought actions against Celsius Network LLC ("Celsius") and one of its founders and former chief executive officer, Alexander Mashinsky ("Mashinsky"), and other persons related to Celsius.