ÃÛÌÒÊÓÆµ

Fintech

  • June 18, 2025

    AGs Tell 3rd Circ. To Close 'Loophole' In Kalshi Betting Case

    A bipartisan group of attorneys general co-led by Ohio Attorney General Dave Yost, a Republican, pressed the Third Circuit to prevent trading platform Kalshi's "broad preemptive coup," urging the appellate court to allow New Jersey to regulate the company.

  • June 17, 2025

    Protego Takes $200M Crypto Bank Suit To Wash. Court

    Protego Holdings Corp. has re-launched a lawsuit in Washington state court blaming a Texas investment firm for failing to carry out a $200 million investment pledge in its launch of a cryptocurrency bank, which never materialized because rare conditional approval from the U.S. government lapsed over financing concerns.

  • June 17, 2025

    Senate Passes Stablecoin Legislation With Bipartisan Support

    The Senate's proposal to regulate stablecoins passed the chamber on Tuesday with support from both parties, sending it on to the House where lawmakers are still working on their own proposal.

  • June 17, 2025

    Crypto Co. Says Meme-Coin Creating Atty Can't Rep Theft Suit

    Cryptocurrency wallet provider Phantom Technologies has asked a New York federal judge to disqualify an attorney from representing a group of plaintiffs, including himself, in a suit he filed over the alleged theft of half-a-million dollars worth of a meme coin he created in honor of his pet dachshund.

  • June 17, 2025

    Nixon Peabody Taps Fintech-Focused Attys From K&L Gates

    Two longtime K&L Gates LLP fintech and financial services partners have joined Nixon Peabody LLP in the firm's complex disputes practice.

  • June 17, 2025

    ÃÛÌÒÊÓÆµ's Vought Seeks To Limit Use Of Civil Penalty Fund

    Consumer Financial Protection Bureau acting Director Russell Vought is proposing to restrict the agency's ability to tap its civil penalty fund for consumer education and financial literacy initiatives as part of a trio of draft regulatory changes posted online Tuesday.

  • June 17, 2025

    Gemini Says CFTC Enforcement Went 'Trophy-Hunting' In Suit

    The crypto exchange Gemini on Tuesday slammed the U.S. Commodity Futures Trading Commission's Enforcement Division and the attorneys who pursued a now-settled case against the firm, calling the division "out of control" and accusing its attorneys of engaging in "trophy-hunting lawfare."

  • June 16, 2025

    Paddle.com To Pay FTC $5M Over Tech Support Scam Claims

    Payment processing company Paddle.com Market Ltd. agreed on Monday to pay $5 million to settle a suit brought by the Federal Trade Commission accusing it of assisting and processing payments for tech support scams.

  • June 16, 2025

    Bank Groups Will Join In On Fed's Debit-Card Swipe Fee Fight

    Two banking industry groups received a North Dakota federal judge's permission Monday to present the perspective of banks when he holds a key hearing next month to mull a retailer-backed legal challenge to the Federal Reserve's limits on debit-card swipe fees.

  • June 16, 2025

    Maryland, Kalshi Clash Over Sports Contract Oversight

    Maryland regulators and KalshiEx are dueling over whether the trading platform's past battle with the U.S. Commodity Futures Trading Commission to list its election contracts complicates its current bid to block Maryland regulators from taking action over contracts that allow traders to wager on the outcome of sporting events.

  • June 16, 2025

    Catching Up With Delaware's Chancery Court

    Delaware's Court of Chancery this past week sought answers in the high-stakes battle over the constitutionality of newly enacted Delaware corporation law amendments, which will hitch a ride to the state's Supreme Court via a suit contesting a $117 million acquisition of Clearway Energy Inc. by its majority shareholder.

  • June 16, 2025

    CFTC Founding Chair Bagley Dies At 96

    The U.S. Commodity Futures Trading Commission's first chair, William T. Bagley, has died at the age of 96.

  • June 16, 2025

    Trump Media Seeks To Launch Bitcoin And Ethereum ETF

    Trump Media and Technology Group Corp., the owner of President Donald Trump's platform Truth Social, on Monday said it filed paperwork to launch an exchange-traded fund that will invest in bitcoin and ethereum, marking its latest push into digital assets.

  • June 16, 2025

    Opendoor Investors Score $39M Deal In Hyped Algorithm Suit

    Real estate firm Opendoor Technologies Inc. has agreed to pay $39 million as part of an investor settlement presented to an Arizona federal court for preliminary approval to resolve litigation accusing the company of overhyping its pricing algorithm software.

  • June 16, 2025

    Crypto Platform Tron Eyes Public Listing Via Reverse Merger

    China-based cryptocurrency platform Tron plans to go public through a reverse merger with Nasdaq-listed toy manufacturer SRM Entertainment Inc., both parties announced on Monday, supported by a $100 million investment arranged by a bank linked to President Donald Trump's family.

  • June 16, 2025

    Justices Again Refuse To Hear Trading Tech's Patent Case

    The U.S. Supreme Court on Monday refused to reconsider its April decision not to hear Trading Technologies' appeal seeking to boost its $6.6 million trading patent win after the company claimed new developments and patent eligibility legislation warranted taking the case.

  • June 13, 2025

    Vought's ÃÛÌÒÊÓÆµ Finds Industry Fans In Rule Repeal Effort

    Financial industry groups are lining up behind the Consumer Financial Protection Bureau's push to scrap a trio of Biden-era policies that they say overexpanded its supervisory and enforcement toolkit, urging on the agency's newfound deregulatory zeal.

  • June 13, 2025

    More IPO Prospects Ready To Test Market After Chime's Debut

    A venture-backed cancer diagnostics firm and a home insurer are preparing two initial public offerings that could raise $720 million combined next week, joining an energized IPO market following fintech startup Chime Financial Inc.'s debut.

  • June 13, 2025

    Gotbit To Pay $23M For Crypto Market Scheme

    Crypto trading firm Gotbit Consulting LLC was ordered to forfeit approximately $23 million in seized cryptocurrency and sentenced to a five-year probation term in the government's suit accusing it of market manipulation, while its founder received an eight-month term.

  • June 13, 2025

    SEC Scrubs Biden-Era Agenda To Give Atkins A 'Clean Slate'

    The U.S. Securities and Exchange Commission is backing away from promised Biden-era regulations on cybersecurity risk management, environmental disclosures and equity market reform, withdrawing over a dozen rule proposals as newly appointed Chair Paul Atkins seeks to rewrite the agency's agenda.

  • June 13, 2025

    Apple Lets Crypto Fraud Schemes Onto App Store, Suit Says

    Apple has been hit with a class action in California federal court alleging it allows fraudulent cryptocurrency trading applications to exist and be available for download on its App Store, causing consumers to become victims of pig butchering and other trading scams.

  • June 13, 2025

    Quinn Emanuel Drops Binance Founder Amid $8M Fraud Suit

    Quinn Emanuel Urquhart & Sullivan LLP has withdrawn as counsel for the founder of Binance amid an $8.1 million lawsuit against him, telling a Massachusetts federal judge that the former cryptocurrency exchange executive has breached an agreement with the law firm and moved for arbitration against it.

  • June 13, 2025

    SEC, Ripple Again Ask NY Judge To Approve Settlement

    The U.S. Securities and Exchange Commission and Ripple Labs Inc. have again urged a New York federal judge to approve lower penalties against the blockchain company citing "exceptional circumstances," following the judge's previous rejection of the joint request on procedural grounds.

  • June 13, 2025

    MoneyGram Will Pay $250K To Finish Off ÃÛÌÒÊÓÆµ, NY Suit

    MoneyGram has agreed to pay $250,000 to end a Biden-era remittance practice suit that was on its last legs after the Consumer Financial Protection Bureau pulled out of the enforcement action earlier this year, leaving the New York attorney general as the sole plaintiff.

  • June 13, 2025

    Celsius Founder To Drop Ch. 11 Claims After Prison Sentence

    Claims asserted by Alexander Mashinsky, the founder of bankrupt cryptocurrency lender Celsius Networks, and his affiliated entities in the company's Chapter 11 case are being withdrawn and disallowed now that Mashinsky has been sentenced to prison.

Expert Analysis

  • Examining Trump Meme Coin And SEC's Crypto Changes

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    While the previous U.S. Securities and Exchange Commission tended to view most crypto-assets as securities, the tide is rapidly changing, and hopefully the long-needed reevaluation of this regulatory framework is not tarnished by an arguable conflict of interest due to President Donald Trump's affiliation with the $Trump meme coin, say attorneys at Thompson Coburn.

  • Opinion

    State FCAs Should Cover Local Fund Misuse, State Tax Fraud

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    New Jersey and other states with similar False Claims Acts should amend them to cover misappropriated municipal funding, and state and local tax fraud, which would encourage more whistleblowers to come forward and increase their recoveries, says Kenneth Levine at Stone & Magnanini.

  • New Fla. Financial Abuse Law May See Limited Buy-In

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    Florida's newly effective financial protection law comes with compliance burdens and uncertainties that could discourage financial institutions from participating, even though the law aims to shield them from liability for delaying transactions when they suspect exploitation of elderly and vulnerable account holders, say attorneys at Shutts & Bowen.

  • 7 Tips For Associates To Thrive In Hybrid Work Environments

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    As the vast majority of law firms have embraced some type of hybrid work policy, associates should consider a few strategies to get the most out of both their in-person and remote workdays, says James Argionis at Cozen O’Connor.

  • Series

    Playing Beach Volleyball Makes Me A Better Lawyer

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    My commitment to beach volleyball has become integral to my performance as an attorney, with the sport continually reminding me that teamwork, perseverance, professionalism and stress management are essential to both undertakings, says Amy Drushal at Trenam.

  • How Banks Can Prepare For NYDFS Overdraft Overhaul

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    The New York State Department of Financial Services' recent proposal to amend overdraft rules for financial institutions underscores states' potential to create consumer protection mechanisms in the absence of meaningful federal action, say attorneys at Steptoe.

  • Terraform Case May Be Bellwether For Crypto Enforcement

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    The prosecution of crypto company Terraform Labs and its CEO, Do Kwon, offers a unique test of the line between lawful and unlawful conduct in digital transactions, and the Trump administration’s posture toward the case will provide clues about its cryptocurrency enforcement agenda in the years to come, say attorneys at Brooks Pierce.

  • Texas Banking Dept. Memo Demystifies Crypto Classifications

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    A recent memorandum from the Texas Department of Banking provides clarity with respect to the classification of both stablecoins and nonstablecoin virtual currencies under the state's Money Services Modernization Act, flagging for firms that stablecoins may be scrutinized more closely as money transmission, say attorneys at Lowenstein Sandler.

  • How Law Firms Can Counteract The Loneliness Epidemic

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    The legal industry is facing an urgent epidemic of loneliness, affecting lawyer well-being, productivity, retention and profitability, and law firm leaders should take concrete steps to encourage the development of genuine workplace connections, says Michelle Gomez at Littler and Gwen Mellor Romans at Herald Talent.

  • What Remedies Under New Admin's SEC Could Look Like

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    The U.S. Securities and Exchange Commission is likely to substantially narrow the remedies it pursues over the next few years, driven by the mounting challenges it faces in court, as well as the views of its incoming chair and fellow Republican commissioners on injunctions, penalties and disgorgement, say attorneys at Milbank.

  • Texas Fraud Case Shows Dangers Of Faulty Crypto Reporting

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    The recent sentencing of a man who failed to properly report capital gains from bitcoin sales is a reminder that special attention must be given to the IRS' reporting requirements in order to stay out of the government's crosshairs, says Saverio Romeo at Fox Rothschild.

  • 5 Keys To Building Stronger Attorney-Client Relationships

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    Attorneys are often focused on being seen as the expert, but bonding with clients and prospects by sharing a few key personal details provides the basis for a caring, trusted and profoundly deeper business relationship, says Deb Feder at Feder Development.

  • How Rising Secondary Private Markets Affect Tech Disputes

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    The rise of secondaries is a natural by-product of growing and evolving private markets and, as such, we can expect their growth will continue, signaling an increase in the use of secondaries in damages as well as litigation revolving around secondaries themselves, says Farooq Javed at The Brattle Group.

  • Suggestions For CFTC Enforcement's New Leadership

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    The recent change in leadership at the U.S. Commodity Futures Trading Commission presents an opportunity to reflect on past practices and consider opportunities for improvement at the commission's Enforcement Division, including in observing precedent and providing greater enforcement transparency, say attorneys at Clifford Chance.

  • How Crypto Firms Should Approach Patchwork Of State Laws

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    The Money Transmission Modernization Act was designed to create uniformity across state digital regulations, but the reality remains far from consistent — as demonstrated by the patchwork of laws in states like Texas, Vermont, New York and California — so as state legislatures convene in the coming weeks, crypto firms should watch closely for developments that could shape the regulatory landscape, say attorneys at Paul Hastings.

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