Fintech

  • April 04, 2025

    SEC Says Reserve-Backed Stablecoins Aren't Securities

    The U.S. Securities and Exchange Commission's Division of Corporation Finance said Friday the offer and sale of reserve-backed dollar stablecoins aren't securities transactions, in the latest statement to set out the staff's views on the boundaries of its jurisdiction over digital assets.

  • April 04, 2025

    Ill. Lawmakers Advance Crypto Fraud Protection Measure

    Illinois state senators passed a bill out of committee intended to rein in cryptocurrency fraud, which one of the proposed law's sponsors said had bilked Illinois residents out of more than $163 million in 2023 alone.

  • April 04, 2025

    Fed's Barr Says Bank Regulators Should 'Explore' Gen AI

    Federal Reserve Gov. Michael Barr called Friday for banking regulators to look into how they themselves might harness generative artificial intelligence, arguing the experience could help them better understand how banks' use of the technology should be overseen.

  • April 04, 2025

    Taxation With Representation: Ropes & Gray, Paul Hastings

    In this week's Taxation With Representation, Siemens AG acquires Dotmatics from Insight Partners, LPL Financial acquires Commonwealth Financial Network, Brookfield Asset Management takes a majority stake in Angel Oak Cos., and TowneBank acquires Old Point Financial Corp.

  • April 03, 2025

    Warren Calls For Investigation Into SEC's Crypto About-Face

    U.S. Sen. Elizabeth Warren is asking the inspector general of the U.S. Securities and Exchange Commission to investigate whether President Donald Trump, his family or associates have had "undue influence" over the agency's recent moves to back off from regulating the cryptocurrency industry.

  • April 03, 2025

    CFPB Says It Will Reopen Small-Biz Lending Rule

    The Consumer Financial Protection Bureau said Thursday that it will reopen its Biden-era rule requiring financial institutions to report data on their small business lending activity, the latest policy pivot for the agency under its new Trump-appointed leadership.

  • April 03, 2025

    AI Dominated Venture Funding In Q1 As Broader Market Lags

    Artificial intelligence investment again dominated venture capital activity in the first quarter, mostly driven by a few mammoth deals, according to data released Thursday, while experts say the broader outlook for non-AI firms remains subdued amid market skittishness.

  • April 03, 2025

    Samsung Gets Mobile Payment Patent Suit Tossed

    A federal judge in Manhattan has tossed a six-year-old suit leveled against Samsung over patents covering "now-obsolete technology" once used by a mobile payment app, ruling that the payment card developer Dynamics already disavowed its latest claim construction argument at an earlier patent board proceeding.

  • April 03, 2025

    Crypto Co. Sentenced In Fed Market Manipulation Suit

    United Arab Emirates-based CLS Global FZC LLC has been sentenced in Massachusetts federal court on criminal charges over running a fraudulent "wash trading" scheme after it pled guilty to the charges in January and agreed to stop working in the U.S. cryptocurrency industry.

  • April 03, 2025

    CFTC Taps New Acting Head Of Market Oversight Division

    The Commodity Futures Trading Commission announced Wednesday that its Division of Market Oversight will be headed on an acting basis by a longtime employee of the derivatives market regulator who helped start the division's Market Intelligence Branch.

  • April 03, 2025

    Loyalty Platform Kognitiv Hits Ch. 11 With Over $10M In Debt

    Customer loyalty platform Kognitiv US LLC filed for Chapter 11 on Wednesday in Delaware bankruptcy court, citing more than $10 million in liabilities with a plan to sell its assets to another loyalty platform.

  • April 03, 2025

    DC Circ. Steps In To Pause CFPB Order As Judge Denies Stay

    A D.C. Circuit panel on Thursday put a temporary, limited hold on a federal judge's preliminary injunction barring further cuts at the Consumer Financial Protection Bureau, even as the judge herself largely denied a Trump administration bid to stay it for appeal.

  • April 03, 2025

    House Moves Stablecoin Bill Despite Dems' Conflict Concerns

    The House Financial Services Committee advanced its federal framework for stablecoins just before midnight Wednesday following hours of markup during which Democrats raised concerns that the Trump family and administration officials' involvement with crypto ventures will create conflicts of interest.

  • April 03, 2025

    Feds Say Cash Advance Biz Owner Ran $40M Ponzi Scheme

    Federal prosecutors said Thursday that a Miami man ran a $40 million Ponzi scheme through a company that purported to make money through quick loans to small businesses.

  • April 03, 2025

    SEC's Gemini Crypto Trading Suit Paused For More Deal Talks

    A New York federal judge paused the U.S. Securities and Exchange Commission's unregistered securities trading claims against cryptocurrency exchange Gemini Trust Co. after the agency and the company informed the court they were approaching a resolution, which would be the second deal reached in the case.

  • April 03, 2025

    'No Serious Question' Federal Firings Broke Law, Justices Told

    Federal employee unions and advocacy groups urged the U.S. Supreme Court on Thursday to reject the Trump administration's bid to pause a California court order reinstating tens of thousands of probationary workers fired from six agencies, arguing the government can't escape self-inflicted harms brought on by its allegedly unlawful actions.

  • April 03, 2025

    Senate Advances Noms Of Trump's SEC, OCC Picks

    The U.S. Senate Banking Committee voted along party lines Thursday to advance the nominations of President Donald Trump's chosen leaders for the U.S. Securities and Exchange Commission and the Office of the Comptroller of the Currency, sending both to the full Senate for a final confirmation vote.

  • April 03, 2025

    Bakkt Holdings Faces Suit Over Lost Crypto Revenue

    Bakkt Holdings Inc. and its top brass have been hit with a potential class action in New York federal court by an investor alleging that the crypto technology company and its executives misrepresented the stability of its crypto services revenue after it acquired a crypto platform.

  • April 03, 2025

    Cango Selling China Biz For $352M In Bitcoin Mining Push

    Cango Inc. said Thursday it has agreed to sell its existing business in China to Ursalpha Digital Ltd. for roughly $352 million in cash, as the company looks to transition from its Chinese automotive roots to focus on its growing international cryptocurrency operations.

  • April 02, 2025

    Binance Can't Send All Investors' Claims To Arbitration

    Crypto exchange Binance has suffered a setback in its bid to send a proposed class action filed by investors to arbitration in Singapore, after a New York federal judge partially denied the motion under an arbitration clause included in a 2019 unilateral update to its terms of use.

  • April 02, 2025

    DC Circ. To Hear Trump Admin's Bid To Stay CFPB Injunction

    A D.C. Circuit panel said Wednesday that it will hold a hearing next week on whether to stay a federal judge's order barring the Trump administration from shutting down the Consumer Financial Protection Bureau, taking up what has also become a jurisdictional dispute.

  • April 02, 2025

    Aspiration Partners Gets Interim OK For Ch. 11 Financing

    Sustainability-focused financial services provider Aspiration Partners Inc. on Wednesday secured the Delaware bankruptcy court's interim approval to tap $2.2 million of an $18 million Chapter 11 financing facility as the company looks for a buyer, following its co-founder's arrest last month on federal fraud charges.

  • April 02, 2025

    Trump Media Refiles President's Shares For Potential Sale

    Trump Media and Technology Group Corp. on Wednesday filed papers to reregister for sale some 114 million shares held by President Donald Trump worth more than $2 billion, though the company says there are no imminent plans to sell the shares.

  • April 02, 2025

    Siemens Buying Scientific Software Co. Dotmatics For $5.1B

    Siemens AG said Wednesday it has agreed to acquire scientific software company Dotmatics from global software investor Insight Partners in a deal valued at $5.1 billion, with Latham & Watkins LLP advising Siemens and Willkie Farr & Gallagher LLP advising Dotmatics.

  • April 02, 2025

    Fintech Execs Want $2M Award Confirmed For 'Nonperformer'

    A trio of financial technology executives asked a Connecticut state judge to confirm a $2 million arbitration award in favor of another executive they say they pushed out for being a "chronic nonperformer" who failed to negotiate the terms of his exit in good faith.

Expert Analysis

  • Imagine The Possibilities Of Openly Autistic Lawyering

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    Andi Mazingo at Lumen Law, who was diagnosed with autism about midway through her career, discusses how the legal profession can create inclusive workplaces that empower openly autistic lawyers and enhance innovation, and how neurodivergent attorneys can navigate the challenges and opportunities that come with disclosing one’s diagnosis.

  • Series

    Documentary Filmmaking Makes Me A Better Lawyer

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    Becoming a documentary filmmaker has allowed me to merge my legal expertise with my passion for storytelling, and has helped me to hone negotiation, critical thinking and problem-solving skills that are important to both endeavors, says Robert Darwell at Sheppard Mullin.

  • Litigation Funding Disclosure Debate: Strategy Considerations

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    In the ongoing debate over whether courts should require disclosure of litigation funding, funders and plaintiffs tend to argue against such mandates, but voluntarily disclosing limited details about a funding arrangement can actually confer certain benefits to plaintiffs in some scenarios, say Andrew Stulce and Marc Cavan at Longford Capital.

  • Understanding Risks Of Celebrities 'Hawking' Crypto Tokens

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    Prominent social media personality Haliey Welch was recently sued over the promotion and sale of the Hawk Tuah cryptocurrency memecoin, underscoring the importance of public figures conducting due diligence to verify they aren't endorsing a token that is in fact a security, say attorneys at Sheppard Mullin.

  • Mass. Law Shows Patchwork Money Transfer Rules Persist

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    Though Massachusetts' recently passed law governing domestic money transfers means 26 states now have a version of the Model Money Transmission Modernization Act on the books, the national framework remains a patchwork that will continue to force industry players to pay sharp attention to state variations, say attorneys at Manatt.

  • Scope And Nature Of Judicial Relief Will Affect Loper's Impact

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    The practical result of post-Loper Bright rulings against regulatory actions will depend on the relief courts grant — and there has been controversy in these types of cases over whether the ruling is applied just to the parties or nationwide, and whether the action can be left in place while it's corrected, says Steven Gordon at Holland & Knight.

  • Series

    Adventure Photography Makes Me A Better Lawyer

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    Photographing nature everywhere from Siberia to Cuba and Iceland to Rwanda provides me with a constant reminder to refresh, refocus and rethink the legal issues that my clients face, says Richard Birmingham at Davis Wright.

  • How Cos. Can Respond To CFPB Digital Asset Safeguard Plan

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    Though the Consumer Financial Protection Bureau’s proposal to regulate online payment platforms via existing federal laws would create new challenges, digital payment companies that engage with the rulemaking process could help shape a win-win regulatory framework that protects consumer data and ensures the sector’s growth, says Allison Raley at Arnall Golden.

  • Future Of Crypto-Asset Classification Is In 2nd Circ.'s Hands

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    A definitive ruling from the Second Circuit in a rare interlocutory appeal in the U.S. Securities and Exchange Commission's ongoing court battle with Coinbase could finally establish clear guidelines on the classification of digital assets, influencing how they are regulated and traded in the U.S., say attorneys at Manatt.

  • 5 Ways To Create Effective Mock Assignments For Associates

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    In order to effectively develop associates’ critical thinking skills, firms should design mock assignments that contain a few key ingredients, from messy fact patterns to actionable feedback, says Abdi Shayesteh at AltaClaro.

  • Overseas Investment Rule Calls For Compliance Caution

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    Investors should be leery of who and what they are investing in now that the federal outbound investment regime, effective Jan. 2, has extended the governement's regulatory reach to businesses and parties not previously subject to trade restrictions, says Thaddeus McBride at Bass Berry.

  • Assessing Gary Gensler's Legacy At The SEC

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    Gary Gensler's tenure as U.S. Securities and Exchange Commission chair is defined by a record of commonsense regulation in some areas and social activism in others, and by increasing judicial skepticism about the SEC's authority to fulfill its regulatory, enforcement, administrative law and adjudicatory functions, say attorneys at Arnold & Porter.

  • A Defendant's Guide To 4 Common CFPB Discovery Tactics

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    With the Consumer Financial Protection Bureau's recent flurry of new lawsuits showing no signs of stopping, defendants should know the bureau's most relied-upon discovery strategies — and be prepared to resist them, say attorneys at Goodwin.

  • Recent SEC Actions Highlight Importance Of Filing Form D

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    The U.S. Securities and Exchange Commission's enforcement action against three companies last month for failing to timely file Form D is an unprecedented step that should put an end to Regulation D issuers' views that filing these forms is a technical requirement or somewhat voluntary, says Patrick McCloskey at McCloskey Law.

  • Kansas Bank's Suit Could Upend FDIC Enforcement Authority

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    ​​​​​​​Should CBW Bank's federal lawsuit in Kansas challenging the Federal Deposit Insurance Corp.'s enforcement authority gain traction with a post-Chevron U.S. Supreme Court, it could have profound implications for the FDIC and the banking industry at large, says Jack Harrington at Bradley Arant.

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