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Fintech
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October 16, 2025
Kalshi Tells 4th Circ. Md. Is Stepping On CFTC Oversight
Maryland federal judge was wrong to reject sports betting company Kalshi's argument that its so-called prediction market, which allows users to wager on the outcome of real-world events, counts as a federal derivative exchange, the company said to the Fourth Circuit.
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October 16, 2025
Justices Told Presidential Firing Limits Rely On 'Soured' Logic
President Donald Trump and a cadre of supporters have urged the U.S. Supreme Court to wipe out what remains of a 90-year-old ruling that empowers Congress to prohibit the president from firing certain agency officials at will, arguing the decision was flawed when originally issued and is now well past its prime.
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October 16, 2025
Fed's Barr Calls For Rules To Plug 'Gaps' In Stablecoin Bill
Federal Reserve Board Governor Michael Barr said Thursday that the success of the recently passed legislative framework for stablecoins is dependent on federal banking agencies and state regulators coordinating to "fill in important gaps" that could threaten consumer protection and the stability of the banking system.
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October 16, 2025
MoneyLion Settles CFPB's Suit Over Military Service Charges
The Consumer Financial Protection Bureau and MoneyLion Inc. will settle a Biden-era enforcement action accusing the fintech lender of overcharging military service members, according to a filing in New York federal court.
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October 15, 2025
Vought Aims To Close CFPB Within '2 Or 3 Months'
White House budget chief Russell Vought said Wednesday that he wants to shutter the Consumer Financial Protection Bureau and expects to succeed in the next few months, despite the Trump administration's claims in court that the agency is just being downsized.
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October 15, 2025
MIT Grads Tell Jury $25M Crypto Score Was No Heist
Counsel for two Massachusetts Institute of Technology-educated brothers accused of pinching $25 million from Ethereum blockchain traders in a seconds-long bait and switch heist told a Manhattan federal jury Wednesday that it was actually a legitimate trading strategy in the "new, hard-charging" crypto trading environment.
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October 15, 2025
OCC Conditionally OKs Palmer Luckey's Thiel-Backed Bank
The Office of the Comptroller of the Currency on Wednesday gave its initial green light to a new virtual currency-focused national bank backed by tech entrepreneurs Peter Thiel and Palmer Luckey, marking the first such approval for a new bank since Jonathan Gould was sworn in as Comptroller in July.
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October 15, 2025
Goldstein Can't Dismiss 2016 Tax Charges As Time-Barred
A Maryland federal judge denied SCOTUSblog co-founder Tom Goldstein's motion to dismiss four of the 22 federal tax charges brought against him in January, ruling that his defense that the counts stemming from the 2016 tax year should be time-barred will have to be raised at trial.
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October 15, 2025
FDIC's Hill Discusses Stablecoin Rulemaking Lift
Federal Deposit Insurance Corp. acting Chairman Travis Hill said Wednesday that crafting a licensing regime for stablecoin issuers under his agency's purview will likely be relatively "straightforward," but the recently passed stablecoin legislation has also tasked banking regulators with thornier policy issues.
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October 15, 2025
Crypto.com Can't Block Nev. Action Over Event Contracts
A Nevada federal judge decided not to bar state gaming regulators from taking action over Crypto.com's event contracts for now, reaching a different conclusion than his earlier ruling in a similar challenge from event contract platform Kalshi after finding that Crypto.com's contracts do not appear to qualify as swaps under the Commodity Exchange Act.
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October 15, 2025
Binance Aided $125M Bitcoin Theft, Fla. Panel Told
A Dubai-based Australian man urged a Florida appeals court Wednesday to revive his lawsuit alleging Binance helped launder $125 million worth of stolen bitcoin, arguing the Sunshine State has jurisdiction over the cryptocurrency exchange.
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October 15, 2025
Pa. Man Pleads To Misleading Investors In $33M Crypto Scam
A Pennsylvania man accused of bilking investors out of more than $33 million in a cryptocurrency investment scheme pled guilty in federal court Wednesday.
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October 15, 2025
Del. Justices Ask How Court Can Uphold Musk Pay Unwinding
A Delaware Supreme Court justice on Wednesday pressed a Tesla Inc. stockholder class attorney on how founder Elon Musk — facing a Court of Chancery strike-down of his $56 billion, multiyear compensation plan — can be "put back to the status quo ante after six years of achieving what he was asked to achieve."
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October 15, 2025
3 Firms Guiding S&P's Planned $1.8B Buy Of With Intelligence
S&P Global Inc. said Wednesday it has agreed to acquire With Intelligence, a private markets data and analytics provider, from a group led by majority investor Motive Partners, for $1.8 billion.
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October 15, 2025
Chase Accused Of IP Theft By Fintech Startup
A fintech startup has accused JPMorgan Chase Bank NA of stealing artificial intelligence trade secrets after months of trying out the trade-optimizing technology, claiming that the bank backed out of their deal in bad faith, costing the small firm $5 million in out-of-pocket expenses as well as undetermined additional damages.
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October 14, 2025
GOP Bill Would Codify Trump Private Equity 401(k) Order
A Montana Republican lawmaker announced Tuesday the introduction of a bill that would codify President Donald Trump's executive order that aims to make it easier for retirement plans to invest in nontraditional 401(k) assets like private equity and cryptocurrency.
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October 14, 2025
Sony Is Among Latest To Apply For OCC Crypto Bank License
Sony's online banking unit has applied with the Office of the Comptroller of the Currency to set up a U.S. offshoot that would mint stablecoins and custody digital assets, joining a wave of firms that have approached the agency with crypto-related business plans.
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October 14, 2025
Squires Calls For 2nd Look At PTAB Wins By Visa
U.S. Patent and Trademark Office Director John Squires has ordered Patent Trial and Appeal Board officials to review final decisions largely backing Visa Inc. in challenges to three credential verification patents, after patent owner Cortex MCP Inc. argued the holdings were flawed.
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October 14, 2025
Banks Ignored NFT Scam That 'Screamed Fraud,' Court Told
A Texas investor urged a California federal court not to toss his lawsuit accusing East West Bank and Cathay Bank of ignoring red flags from scammers and enabling a $17 million romance scam, saying that he provided enough evidence showing that the banks disregarded obvious signs of fraud.
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October 14, 2025
Oregon Says Judge Was Right To Remand Coinbase Suit
The state of Oregon has pushed back against Coinbase's objections to a federal judge's findings and recommendation that the state's case against the cryptocurrency platform be sent back to state court, saying the judge "properly concluded that no basis for federal jurisdiction exists."
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October 14, 2025
DC Circ. Upholds SEC's Cap On Exchange Fees
The D.C. Circuit on Tuesday rejected a call to overturn a U.S. Securities and Exchange Commission regulation capping the fees that exchanges can charge investors, ruling that the agency has "broad regulatory authority" to police the space.
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October 14, 2025
Ex-Clear Street Employees Sue Over Retaliation, Defamation
Four former employees of financial services company Clear Street Management have sued the firm, claiming they were retaliated against as whistleblowers and falsely terminated "for cause" when they attempted to resign over allegations of a toxic workplace.
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October 14, 2025
Crypto Firm JKL's Liquidators Look To Secure Ch. 15 In NY
The liquidators for British Virgin Islands-based cryptocurrency investment firm JKL Digital Capital Ltd. have filed for Chapter 15 recognition in New York, saying the debtor has been uncooperative after it was forced into liquidation earlier this year by its only creditor, TGT LP.
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October 14, 2025
NYC Mayor Creates Crypto Office Ahead Of Departure
New York City Mayor Eric Adams on Tuesday issued an executive order to establish a mayoral office focused on attracting crypto talent and economic opportunities to the city, an announcement that comes weeks before the city is set to elect a new mayor.
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October 14, 2025
DOJ Seizes $15B In Bitcoin Linked To Pig Butchering Scams
Federal law enforcement and the U.S. Department of the Treasury are taking aim at a sprawling Cambodian human trafficking operation and cryptocurrency scam in an indictment and record-setting $15 billion forfeiture action unveiled Tuesday that detailed Prince Holding Group's alleged use of forced labor to steal and launder billions of dollars from victims worldwide.
Expert Analysis
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State Crypto Regs Diverge As Federal Framework Dawns
Following the Genius Act's passage, states like California, New York and Wyoming are racing to set new standards for crypto governance, creating both opportunity and risk for digital asset firms as innovation flourishes in some jurisdictions while costly friction emerges in others, say attorneys at Sheppard Mullin.
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Parenting Skills That Can Help Lawyers Thrive Professionally
As kids head back to school, the time is ripe for lawyers who are parents to consider how they can incorporate their parenting skills to build a deep, meaningful and sustainable legal practice, say attorneys at Alston & Bird.
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Series
Teaching Trial Advocacy Makes Us Better Lawyers
Teaching trial advocacy skills to other lawyers makes us better litigators because it makes us question our default methods, connect to young attorneys with new perspectives and focus on the needs of the real people at the heart of every trial, say Reuben Guttman, Veronica Finkelstein and Joleen Youngers.
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What New CFPB Oversight Limits Would Mean For 4 Markets
As the Consumer Financial Protection Bureau continues to centralize its resources, proposals to alter the definition of larger market participants in the automobile financing, international money transfer, consumer reporting and consumer debt collection markets would reduce the scope of the bureau's oversight, say attorneys at Holland & Knight.
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MIT Bros.' Crypto Charges Provide Fraud Test Case For Gov't
As U.S. v. Peraire-Bueno, involving cryptocurrency fraud charges against brothers who graduated from the Massachusetts Institute of Technology, moves forward after surviving a motion to dismiss, the case provides an early example of how the government might use the federal fraud statutes to regulate decentralized networks, say attorneys at ArentFox Schiff.
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Potential Paths To Modernizing The Bank Secrecy Act
The Bank Secrecy Act's analog design has become increasingly incompatible with today's digital financial ecosystem, but legislative reforms, coupled with regulatory adjustments including updated thresholds, feedback mechanisms and innovation sandboxes, would help adjust the act to the unique challenges of modern technology, says Matthew Biben at King & Spalding.
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9th Circ. Finding That NFTs Are Goods Will Change TM Law
The Ninth Circuit's recent ruling in Yuga Labs v. Ripps establishes that NFTs have real, commercial value under U.S. federal trademark law, a new legal precedent that may significantly influence intellectual property enforcement and marketplace policies regarding digital assets going forward, say attorneys at Wilson Elser.
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Series
Adapting To Private Practice: From Texas AUSA To BigLaw
As I learned when I transitioned from an assistant U.S. attorney to a BigLaw partner, the move from government to private practice is not without its hurdles, but it offers immense potential for growth and the opportunity to use highly transferable skills developed in public service, says Jeffery Vaden at Bracewell.
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3 Rulings Show Hurdles To Proving Market Manipulation Fraud
Three recent conviction reversals from New York federal courts highlight the challenges that prosecutors face in establishing fraud and market manipulation allegations, suggesting that courts are increasingly reluctant to find criminal liability when novel theories are advanced, say attorneys at WilmerHale.
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Advice For 1st-Gen Lawyers Entering The Legal Profession
Nikki Hurtado at The Ferraro Law Firm tells her story of being a first-generation lawyer and how others who begin their professional journeys without the benefit of playbooks handed down by relatives can turn this disadvantage into their greatest strength.
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Untangling 'Debanking' Exec Order And Ensuing Challenges
President Donald Trump's recent executive order on the practice of closing or refusing to open accounts for high-risk customers has heightened scrutiny on "debanking," but practical steps can help financial institutions reduce the likelihood of becoming involved in investigations, say attorneys at Winston & Strawn.
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What FDIC's Asset Threshold Raise Would Mean For Banking
If the Federal Deposit Insurance Corp. goes through with its plan to raise asset thresholds that determine regulatory intensity, it could free billions in compliance costs and bolster regional and community banks, but risk of oversight gaps are making this a contested area in banking policy, says Jessica Groza at Kohr Jackson.
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Series
Coaching Cheerleading Makes Me A Better Lawyer
At first glance, cheerleading and litigation may seem like worlds apart, but both require precision, adaptability, leadership and the ability to stay composed under pressure — all of which have sharpened how I approach my work in the emotionally complex world of mass torts and personal injury, says Rashanda Bruce at Robins Kaplan.
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Series
Law School's Missed Lessons: How To Make A Deal
Preparing lawyers for the nuances of a transactional practice is not a strong suit for most law schools, but, in practice, there are six principles that can help young M&A lawyers become seasoned, trusted deal advisers, says Chuck Morton at Venable.
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Annual Report Shows CFIUS Extending Its Reach In 2024
The recently released 2024 annual report from the Committee on Foreign Investment in the United States reveals record civil penalties and enhanced internal capabilities, illustrating expanding jurisdiction and an increasing appetite for enforcement actions, says Nathan Fisher at StoneTurn.