In August, the Internal Revenue Service and the Treasury Department proposed regulations expanding the scope of the tax reporting requirements for brokers to apply to sales of digital ass...
The Federal Reserve Board released two supervisory letters: one introducing a program to supervise novel activities and one providing details on the process for state member banks to enga...
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...
Davis Polk partner Joe Hall authored “SEC v. Ripple Labs decision could change crypto regulation” in Law360. In the article, Joe discusses the potential impact of U.S. District Judge ...
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...
Davis Polk partners Robert Cohen and Fiona Moran and associate Abigail Cooper authored “A decade in review: SEC cryptocurrency enforcement – Where we have been and where we are going ...
On June 1, 2023, Hong Kong’s licensing regime for virtual asset trading platforms came into force, following the SFC’s Consultation Conclusions published on May 23, 2023 setting out t...
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...