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Fintech

  • August 06, 2025

    Tornado Founder Gets Partial Mistrial, Convicted On 1 Count

    A federal jury in Manhattan on Wednesday convicted Tornado Cash co-founder Roman Storm of conspiring to operate the crypto mixer as an unlicensed money transmitting business, but deadlocked on money laundering and sanctions charges.

  • August 05, 2025

    Tornado Cash Jury Still Out, SEC Leader Backs Privacy Tech

    Jury deliberations in the money laundering and sanctions trial of Tornado Cash co-founder Roman Storm continued Tuesday with no verdict, one day after a top securities regulator championed the legitimacy of privacy-protecting technologies, much like defense claims about the cryptocurrency tumbler.

  • August 05, 2025

    Voyager Digital's Former Bank Escapes Fraud Suit, For Now 

    Voyager Digital's former bank, Metropolitan Commercial Bank, has won dismissal of a 53-count suit alleging it was complicit in bad behavior by the now-defunct crypto lender and should be on the hook for repaying platform users, with the court ruling that the complaint as-is does not plausibly plead fraud or unjust enrichment.

  • August 05, 2025

    Fired NCUA Officials Urge DC Circ. To Return Them To Board

    Two top credit union regulators fired by President Donald Trump are asking the D.C. Circuit to let them go back to work while it reviews a lower-court decision reinstating them, arguing their service is needed to prevent a painful impending snapback in interest-rate limits for federal credit unions.

  • August 05, 2025

    Credit Co. Director Seeks Del. Toss Of Harassment-Tied Suit

    A former director of credit repair company Credit Glory, accused of fiduciary duty breaches in Delaware's Court of Chancery for alleged sexual harassment of employees, argued on Tuesday that a co-director's purported conflicts in bringing the suit justified dismissal.

  • August 05, 2025

    Coinbase Users' Hidden Fees Suit Kicked To Arbitration

    Crypto traders who accused Coinbase of charging them hidden "spread fees" by deceptively inflating cryptocurrency prices and concealing the fees in the price quotes will have to resolve their dispute in arbitration, with a California federal judge ruling Tuesday that the Federal Arbitration Act supersedes the parties' arbitration agreement.

  • August 05, 2025

    SEC Deems 'Liquid Staking' Outside Its Crypto Purview

    U.S. Securities and Exchange Commission staff said Tuesday that certain so-called liquid staking arrangements and the assets they create are beyond its jurisdiction, marking the agency's first piece of guidance since announcing a push to craft rules and establish exemptions for the digital asset industry in line with recent White House recommendations.

  • August 05, 2025

    SEC Fines Platform Founder $10M Over Crypto-Backed Scam

    The owner of a shuttered lending platform has agreed to pay over $10 million to end a U.S. Securities and Exchange Commission case accusing him of defrauding customers by using their money to buy millions of dollars' worth of TerraUSD before the stablecoin collapsed.

  • August 05, 2025

    Binance Founder Seeks Exit From FTX $1.76B Clawback Suit

    Former Binance CEO Changpeng Zhao asked a Delaware bankruptcy judge to dismiss him from a clawback suit filed by the estate of bankrupt crypto exchange FTX seeking to recover $1.76 billion it says FTX illegally transferred before its collapse two years ago, saying the transaction was outside the court's jurisdiction.

  • August 04, 2025

    4 Firms Build $558M Crypto Treasury With Telegram Token

    Guided by Perkins Coie LLP and Brownstein Hyatt Farber Schreck, Verb Technology Co. Inc. announced Monday a $558 million private placement deal to stockpile the Telegram-afflilated TONcoin token.

  • August 04, 2025

    Kalshi Incurs 1st Loss In Quest To Avoid State Scrutiny

    A Maryland federal judge won't bar the state's gaming regulators from taking action over Kalshi's sports event contracts for the time being, finding the trading platform hasn't shown that Congress specifically intended to preempt state gambling laws when it passed federal derivatives regulation.

  • August 04, 2025

    Axos Wins $40M In Trade Secrets Case Against Calif. Rival

    A California federal court has ordered Nano Banc and several former employees and executives to pay $40 million to rival Axos Bank after they were found liable for trade secret misappropriation and other claims.

  • August 04, 2025

    Trial Called Off After Judge Partly Clears Apple In Fintiv Row

    Western District of Texas Judge Alan Albright called off a trial scheduled for Monday in Fintiv Inc.'s long-running mobile wallet patent case against Apple Inc., after he cleared Apple of infringing some claims and Fintiv opted to appeal rather than putting the remaining claims before a jury.

  • August 04, 2025

    Coinbase Moves To End Oregon's Post-SEC Enforcement Suit

    Coinbase Inc. is asking a federal judge to throw out a lawsuit accusing the company of putting Oregonians at financial risk through the operation of an unregistered securities platform, arguing that the state's attorney general is not the proper authority to bring such a lawsuit.

  • August 04, 2025

    Crypto Exchange Bullish Launches Plans For $599M IPO

    Venture-backed crypto exchange Bullish plans to raise roughly $599 million in an upcoming initial public offering, according to a Monday statement indicating that it intends to offer 20.3 million shares priced between $28 and $31 per share.

  • August 04, 2025

    Plaintiff Bar Urges FINRA To Reject Industry's Arbitration Recs

    The Public Investors Advocate Bar Association on Monday urged the Financial Industry Regulatory Authority to reject industry recommendations to loosen its arbitration rules, calling on the brokerage industry regulator to "resist pressure from industry groups seeking to dilute hard-won safeguards."

  • August 04, 2025

    Ex-CNBC Pundit Gets 5 Years For $2.7M Investor Fraud

    A California federal judge sentenced former frequent CNBC guest James Arthur McDonald Jr. to five years in prison Monday for defrauding investors out of at least $2.7 million after he admitted he "betrayed" some of his close friends as part of his scam.

  • August 04, 2025

    FinCEN Urges Industry To Stay 'Vigilant' On Crypto ATM Fraud

    The U.S. Department of the Treasury's Financial Crimes Enforcement Network on Monday cautioned about rising fraud involving crypto ATMs, saying criminals are increasingly using the kiosks to launder money and scam vulnerable consumers, especially seniors.

  • August 04, 2025

    Bitcoin Depot Hit With Data Breach Class Action In Ga.

    Bitcoin Depot Inc. was hit with a proposed class action in Georgia federal court Friday over allegations that it failed to properly safeguard the personally identifiable information of more than 26,000 U.S. residents in a July 2024 data breach.

  • August 04, 2025

    Tax AI Co. Blue J Raises $122M Series D To Expand

    Blue J, a generative artificial intelligence-powered research platform for tax and legal practitioners, announced Monday the raising of $122 million in a Series D funding round to expand its team, product development and marketing efforts.

  • August 01, 2025

    PE Investor Can't Move Suit to Del., NC Judge Says

    A North Carolina Business Court judge declined to allow a private equity investor to voluntarily dismiss its derivative lawsuit against the fund's asset manager and majority owner and move the case to Delaware, finding that the shareholder failed to plead facts demonstrating a legitimate derivative claim under Delaware law.

  • August 01, 2025

    Kalshi Gets Ex-Lawmakers' Backing In 3rd Circ. Betting Row

    A bipartisan group of former federal lawmakers is urging the Third Circuit to continue preventing New Jersey gambling regulators from taking action over KalshiEx's sports contracts, saying Congress intended for the U.S. Commodity Futures Trading Commission to have the final say on event contracts trading on federally regulated markets.

  • August 01, 2025

    9th Circ. Sees 'Everest-Like' Preemption For Credit Union Fees

    A Ninth Circuit panel on Friday rejected a consumer's bid to revive his California class action claims over bounced-check fees at Navy Federal Credit Union, ruling that federal credit unions are exempt from state laws that regulate account fees.

  • August 01, 2025

    GOP Reps Eye Reforms To Landmark Bank Data Privacy Law

    Republican lawmakers have kicked off a review that could lay the groundwork for new financial data privacy legislation, soliciting public input on whether and how to overhaul a law that governs financial institutions' handling of consumer financial records.

  • August 01, 2025

    SEC To Explore Internal Use Of AI With New Task Force

    The U.S. Securities and Exchange Commission announced Friday that it plans to ramp up its internal use of artificial intelligence tools with a new task force led by a veteran staffer who's recently led the agency's fintech efforts.

Expert Analysis

  • How AI May Reshape The Future Of Adjudication

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    As discussed at a recent panel at Texas A&M, artificial intelligence will not erase the human element of adjudication in the next 10 to 20 years, but it will drive efficiencies that spur private arbiters to experiment, lead public courts to evolve and force attorneys to adapt, says Christopher Seck at Squire Patton.

  • What Money Transmitters Need To Know About New Colo. Law

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    Colorado's new Money Transmission Modernization Act updates standards for the licensing, supervision and regulation of money transmitters while codifying an agent-to-payee exemption, and represents another step toward standardizing these rules across state governments, say Sarah Auchterlonie and Joel Herberman at Brownstein Hyatt.

  • When Legal Advocacy Crosses The Line Into Incivility

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    As judges issue sanctions for courtroom incivility, and state bars advance formal discipline rules, trial lawyers must understand that the difference between zealous advocacy and unprofessionalism is not just a matter of tone; it's a marker of skill, credibility and potentially disciplinary exposure, says Nate Sabri at Perkins Coie.

  • Two Bills Promise A Crypto Revamp, But Not A Done Deal Yet

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    Recent efforts in Congress toward an updated regulatory framework for digital assets have led to two bills — the GENIUS Act and the CLARITY Act — that represent the most consequential legislative developments yet in the push for coherent, pro-innovation, reliable regulation for the industry, but both face multiple hurdles, says Mike Katz at Manatt.

  • Despite Rule Delay, FTC Scrutiny Looms For Subscriptions

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    Even though the Federal Trade Commission has delayed its click-to-cancel rule that introduces strict protocols for auto-renewing subscriptions, businesses should expect active enforcement of the new requirements after July, and look to the FTC's recent lawsuits against Uber and Cleo AI as warnings, say attorneys at Holland & Knight.

  • Ore. Coinbase Case Charts New Path For State Crypto Suits

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    Oregon's recent lawsuit against Coinbase serves as a reminder for the crypto industry that not all states will simply defer to the U.S. Securities and Exchange Commission's evolving stance on crypto-assets, highlighting why stakeholders should proactively assess the risks posed by state-level litigation and develop strategies to address distinct challenges, say attorneys at Steptoe.

  • Series

    Volunteering At Schools Makes Me A Better Lawyer

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    Speaking to elementary school students about the importance of college and other opportunities after high school — especially students who may not see those paths reflected in their daily lives — not only taught me the importance of giving back, but also helped to sharpen several skills essential to a successful legal practice, says Guillermo Escobedo at Constangy.

  • Fed's Crypto Guidance Yank Could Drive Innovation

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    The Federal Reserve Board's recent withdrawal of guidance letters brings regulatory consistency and broadens banks' ability to innovate in the crypto-asset space, but key distinctions remain between the Fed's policy on crypto liquidity and that of the other banking regulators, says Dan Hartman at Nutter.

  • Attacks On Judicial Independence Tend To Manifest In 3 Ways

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    Attacks on judicial independence now run the gamut from gross (bald-faced interference) to systemic (structural changes) to insidious (efforts to undermine public trust), so lawyers, judges and the public must recognize the fateful moment in which we live and defend the rule of law every day, says Jim Moliterno at Washington and Lee University.

  • A Look At Texas Corp. Law Changes Aimed At Dethroning Del.

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    Seeking to displace Delaware as the preferred locale for incorporation, Texas recently significantly amended its business code, including changes like codifying the business judgment rule, restricting books and records demands, and giving greater protections for officers and directors in interested transactions, say attorneys at Fenwick.

  • OCC's Digital Embrace Delivers Risk, Opportunity For Banks

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    As the Office of the Comptroller of the Currency continues to release and seek more information on banks' participation in the crypto-asset arena, institutions may see greater opportunity to pursue digital asset and custody services, but must simultaneously educate themselves on transformations occurring throughout the industry, says Kirstin Kanski at Spencer Fane.

  • Remediation Still Reigns Despite DOJ's White Collar Shake-Up

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    Though the U.S. Department of Justice’s recently announced corporate enforcement policy changes adopt a softer tone acknowledging the risks of overregulation, the DOJ has not shifted its compliance and remediation expectations, which remain key to more favorable resolutions, say Jonny Frank, Michele Edwards and Chris Hoyle at StoneTurn.

  • Series

    Law School's Missed Lessons: Appreciating Civil Procedure

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    If you’re like me, law school’s often complex and theoretical approach to teaching civil procedure may have contributed to an early struggle with the topic, but when seen from a practical perspective, new lawyers may find they enjoy mastering these rules, says Chloe Villagomez at Foster Garvey.

  • Calif. Bar Exam Fiasco Shows Why Attys Must Disclose AI Use

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    The recent revelation that a handful of questions from the controversial California bar exam administered in February were drafted using generative artificial intelligence demonstrates the continued importance of disclosure for attorneys who use AI tools, say attorneys at Troutman.

  • ÃÛÌÒÊÓÆµ's Guidance Withdrawal Deepens Industry Uncertainty

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    Following the Consumer Financial Protection Bureau's recent withdrawal of dozens of guidance documents in a post-Chevron world, financial services providers are left to make their own determinations about the complex issues addressed in the now-revoked materials, presenting a significant compliance burden, say attorneys at Bradley Arant.

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