Lilya Tessler

Feb 27, 2024 | lexology.com | Lilya Tessler |David E Teitelbaum |Joseph Paral

1. SEC Discusses Application of New “Dealer” Rules to Crypto Asset Markets2. FINRA Presents Initial Findings on Crypto Asset Communications, After Highlighting Crypto Assets in Annual Regulatory Oversight Report 3. The SEC Approves the Listing and Trading of “Spot” Bitcoin Exchange-Traded Products4. SEC Continues Active Enforcement Against Blockchain Products5. IRS Announces Businesses Do Not Need to Report Certain Digital Asset Transactions (Yet) 6.

Jul 26, 2023 | datamatters.sidley.com | Michael E. Borden |Lilya Tessler |David E Teitelbaum |Kate L. Lashley

This week, two committees in the House of Representatives will mark up legislation intended to clarify the regulatory framework applicable to digital assets in the United States.

Apr 26, 2023 | lexology.com | Andrew Blake |Charles Sommers |Lilya Tessler |Conner Brown |Michael J. Ogershok |Andrew J. Sioson

On April 14, 2023, the U.S. Securities and Exchange Commission (SEC) reopened the comment period — for the second time — for proposed amendments to Rule 3b-16 (the Proposal) under the Securities Exchange Act of 1934 (Exchange Act), which defines certain terms used in the statutory definition of “exchange,” excludes certain systems from the definition of exchange, and provides a functional test to assess whether a trading platform meets the definition of exchange.

Apr 12, 2023 | lexology.com | Nathan Howell |Lilya Tessler |Kate L. Lashley |James C. Munsell

USAApril 12 2023On March 29, 2023, the National Futures Association (NFA) issued a new rule, Compliance Rule 2-51 (Rule 2-51, or the Rule), applicable to NFA member firms and associated persons (Members and Associates) engaging in activities involving “digital asset commodities.” The Rule imposes anti-fraud, just and equitable principles of trade, and supervision requirements on Members and Associates and codifies Members’ existing disclosure obligations under NFA Interpretative Notice 9073.

Feb 21, 2023 | lexology.com | Jay G. Baris |Laurin Blumenthal Kleiman |Lilya Tessler |David E Teitelbaum |Ranah Esmaili |Chuck Daly | +1 more

By a 4-1 vote, the U.S. Securities and Exchange Commission (the Commission) on February 15, 2023, proposed sweeping revisions to the rule under the Investment Advisers Act of 1940, as amended (the Advisers Act) that addresses custody of client assets by registered investment advisers.