Search Results: Regulatory Guidance

U.S. Crypto Regulation and the Digital Commodities Consumer Protection Act

Goodwin partner Grant Fondo was recently interviewed on CoinDesk TV in regards to the Digital Commodities Consumer Protection Act that was introduced on Wednesday, August 3, 2022. The proposed legislation suggests that the CFTC should control crypto spot markets, specifically bitcoin and ether, which the bill classifies as commodities. To…

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Is the SEC's Expansion of the "Exchange" and "Dealer" Definitions Part of the Agency's Crypto and DeFi Strategy?

In March 2022, the U.S. Securities and Exchange Commission proposed rules that would greatly expand the Exchange Act definition of “dealer” and essentially kill the distinction between dealers and traders long-recognized by the SEC. The likely outcome is that most proprietary trading firms will need to register with the SEC as…

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Germany Introduces New Rules on Crypto Funds

Germany has introduced a new regulation on crypto fund units (Verordnung über Kryptofondsanteile – KryptoFAV), that allows fund managers to issue fund units on an electronic instead of a physical basis. The new rules come less than one year after the Fund Location Act (Fondsstandortgesetz) allowed institutional investors to invest…

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Employee Incentive Vehicles for Digital Asset Companies

People are often the most valuable asset for growing technology companies, and attracting and retaining top talent is all-the-more important when dealing with emerging technologies like blockchain and cryptocurrencies.  For most private companies, the path for creating meaningful incentives for service providers is well-trodden—they can use a traditional equity incentive…

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Department of Justice Announces “Cryptocurrency: An Enforcement Framework"

On October 8, 2020, the Attorney General’s Cyber Digital Task Force announced the release of a publication entitled Cryptocurrency: An Enforcement Framework (the “Enforcement Framework”).  The Enforcement Framework describes the DOJ’s three areas of focus for illicit activity involving cryptocurrency:  (1) financial transactions associated with the commission of crimes; (2)…

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SEC Commissioner Peirce Not Skating Around Her Views on Telegram Settlement

Never one to hold back, especially when it comes to crypto and blockchain matters, SEC Commissioner Peirce recently explained her views on the SEC’s settlement with Telegram and the agency’s approach to regulating the crypto and blockchain ecosphere generally. Simply put, Peirce disagreed with the Telegram settlement.  In her words:…

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OCC Confirms National Banks and Federal Savings Associations May Provide Cryptocurrency Custody

On July 22, 2020, the Office of the Comptroller of the Currency (OCC) issued an interpretive letter confirming that national banks and federal savings associations (banks) may provide cryptocurrency custody services to customers. The conclusion that banks may provide such services is not surprising, because banks have long provided safekeeping…

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