Michael Butowsky

Mar 5, 2024 | mondaq.com | Mike Austin |Michael Butowsky |Thomas Devaney |Harold Gordon

The Situation: The Securities and Exchange Commission (the "SEC" or "Commission") has adopted new rules that further define the phrase "part of a regular business" for purposes of determining whether a person is a "dealer" or "government securities dealer" subject to registration under the Securities Exchange Act.

Feb 28, 2024 | jdsupra.com | Michael Austin |Michael Butowsky |Thomas Devaney

In ShortThe Situation: The Securities and Exchange Commission (the "SEC" or "Commission") has adopted new rules that further define the phrase "part of a regular business" for purposes of determining whether a person is a "dealer" or "government securities dealer" subject to registration under the Securities Exchange Act.

Sep 7, 2023 | jdsupra.com | Michael Butowsky |Sarah Levine |Mark Rasmussen

On August 29, 2023, the Court of Appeals for the District of Columbia Circuit granted a petition from Grayscale Investments, LLC, vacating the SEC's order denying Grayscale's request to approve the exchange listing of its bitcoin ETP. The case represents a win for Grayscale on an administrative law challenge.

Sep 6, 2023 | mondaq.com | Michael Butowsky |Sarah Levine |Mark Rasmussen |Brett A. Shumate

The D.C. Circuit rebuked the U.S. Securities and Exchange Commission ("SEC") on administrative law grounds but left untouched the test the Agency used to deny proposed bitcoin exchange traded products ("ETP"). On August 29, 2023, the Court of Appeals for the District of Columbia Circuit granted a petition from Grayscale Investments, LLC, vacating the SEC's order denying Grayscale's request to approve the exchange listing of its bitcoin ETP.