While scaled back from the original proposal, the final rules expand the scope of firms required to register as dealers as a result of engaging in trading activity that has “the effect?...
Davis Polk partner Zach Zweihorn co-authored an update to a chapter in the second edition of Broker-Dealer Regulation, “What is a broker-dealer?”. The chapter discusses the Securities...
FinCEN released a proposed rule that would identify international convertible virtual currency mixing as a class of transactions of “primary money laundering concern” – a designatio...
The House Financial Services Committee approved the Clarity for Payment Stablecoins Act of 2023. If enacted, the legislation would create a regulatory framework for the issuance and overs...
Davis Polk partners Joe Hall, David Portilla and Zach Zweihorn and associate Justin Levine authored “A closer look at competing stablecoin legislative proposals” in Law360. In the art...
The SEC lost a game point in its case against Ripple Labs when a federal court ruled that several categories of XRP token sales were not securities transactions. If adopted by other court...
Representatives Patrick McHenry (R-NC) and Maxine Waters (D-CA), the respective Chair and Ranking Member of the House Financial Services Committee, have been negotiating legislation to re...
The NY Attorney General is seeking legislation that would significantly expand the state’s reach over digital assets and require wholesale changes to the operation of digital asset busi...
The SEC’s proposed amendment would expand the current custody rule under the Advisers Act to cover a broader array of client assets and advisory activities and impose new custodial prot...
The SEC proposed a broad suite of new cybersecurity rules for many market participants, including policies and procedures to address cybersecurity risk, written incident response programs...
