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Fintech
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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.
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October 14, 2025
Prime Core's Trust Seeks $93.6M Clawback After Bankruptcy
The litigation trust overseeing bankrupt crypto custodian Prime Core Technologies Inc. has launched a clawback suit in the U.S. Bankruptcy Court for the District of Delaware, seeking to recover nearly $93.6 million in alleged preferential transfers made to a London-based trading partner in the weeks before Prime's collapse.
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October 14, 2025
Visa, MasterCard To Pay Combined $199.5M In Fraud Risk Suit
Visa Inc. and MasterCard International Corp. have agreed to pay a combined $199.5 million to resolve a nearly decade-old certified class action accusing the credit card giants of conspiring to dump fraud risk costs on merchants, according to documents filed in New York federal court.
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October 14, 2025
'Bitcoin Jesus' Paid $50M In Tax Deal, US Says
The U.S. asked a California federal court Tuesday to dismiss its criminal tax case against a cryptocurrency investor known as Bitcoin Jesus, disclosing that he has paid the $50 million he owed for hiding bitcoin from the IRS after renouncing his U.S. citizenship more than a decade ago.
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October 14, 2025
Tether Accused Of Wrongly Freezing $45M In Cryptocurrency
Stablecoin issuer Tether faces a lawsuit from a business claiming that Tether improperly froze cryptocurrency worth about $44.72 million at the behest of a local police department in Bulgaria, departing from proper procedures for an asset freeze.
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October 14, 2025
House of Doge To Go Public In Reverse Merger With Brag House
House of Doge, led by Seward & Kissel LLP, will merge with esports platform Brag House Holdings Inc., which is being steered by Lucosky Brookman LLP, in a reverse merger backed by $50 million in capital investments that will see the cryptocurrency company go public.
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October 14, 2025
Catching Up With Delaware's Chancery Court
Last week at the Delaware Chancery Court, Vice Chancellor Lori W. Will ruled that Carlos Vasallo remains the CEO of Caribevision TV Network LLC, finding that majority investors' attempt to remove him under a defective 2019 agreement was invalid for lack of proper notice.
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October 10, 2025
Block Founders Face Investor Suit Over Cash App Fraud
Several executives and directors of Cash App parent company Block Inc. have been hit with a derivative suit accusing them of allowing Cash App's "frictionless" sign-up system to fuel fraud, money laundering and inflated user counts while lying about compliance.
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October 10, 2025
Ill. AG, Retailers Will Split Swipe-Fee Law's Defense At Hearing
A Chicago federal judge has agreed to allow a coalition of merchant groups to take part in a key hearing later this month that could decide a banking industry legal challenge to the Illinois Interchange Fee Prohibition Act, a law banning swipe fees on tax and tip payments.
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October 10, 2025
5th Circ.'s FDIC Ruling 'Cries Out' For Review, Ex-CEO Says
A former Texas bank CEO has asked the full Fifth Circuit to revive his constitutional challenge to the Federal Deposit Insurance Corp.'s in-house enforcement process, arguing that a recent panel decision to reject his case as premature "cries out" for review.
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October 10, 2025
SEC's Atkins Commits To Expanding Use Of Wells Process
U.S. Securities and Exchange Commission Chairman Paul Atkins plans to refresh the agency's Wells process of engaging with firms ahead of potential enforcement actions, saying he intends for the agency to be more forthcoming with investigative findings and provide more time and opportunities to respond to these findings.
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October 10, 2025
CFTC Crypto Task Force Head Returns To Akin
The former head of the Commodity Futures Trading Commission's Digital Asset Task Force has left the agency to return to Akin Gump Strauss Hauer & Feld LLP as senior counsel in its white collar defense and government investigations practice.
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October 10, 2025
Infosys' Counterclaims Against Competitor Tossed For Now
A Texas federal court dismissed counterclaims from Infosys Ltd. accusing Cognizant TriZetto Software Group Inc. of monopolizing a market for healthcare software and related services after finding the allegations ignored potential competition from alternatives.
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October 10, 2025
Apple Faces Class Cert. Bid In Mobile Wallet Antitrust Case
An attorney for a proposed class of credit card issuers urged a California federal judge Friday to grant class certification in a suit accusing Apple of monopolizing mobile wallet technology for its own devices even though two lead plaintiffs said they would not pass transaction fees on to their users.
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October 10, 2025
SEC's Atkins Criticizes Del. As 'Uninterested' In IPO Reform
U.S. Securities and Exchange Commission Chair Paul Atkins said he is "disappointed" by recent changes to Delaware law that he believes will drive up litigation costs for public companies and make the state seem "uninterested in reform" that would encourage more companies to file initial public offerings there.
Expert Analysis
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The CFTC Is Shaking Up Sports Betting's Legal Future
The sports betting industry faces a potential sea change amid recent state and federal actions across the regulatory landscape that have expanded access to sporting event contracts against the backdrop of waning Commodity Futures Trading Commission opposition, says Nick Covek at Foley & Lardner.
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Series
Law School's Missed Lessons: Rejecting Biz Dev Myths
Law schools don’t spend sufficient time dispelling certain myths that prevent young lawyers from exploring new business opportunities, but by dismissing these misguided beliefs, even an introverted first-year associate with a small network of contacts can find long-term success, says Ronald Levine at Herrick Feinstein.
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Move Beyond Surface-Level Edits To Master Legal Writing
Recent instances in which attorneys filed briefs containing artificial intelligence hallucinations offer a stark reminder that effective revision isn’t just about superficial details like grammar — it requires attorneys to critically engage with their writing and analyze their rhetorical choices, says Ivy Grey at WordRake.
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Best Practices For State Banks Eyeing Federal Conversions
Amid a notable uptick — fueled by ongoing regulatory upheaval — in state-chartered banks exploring conversion to national bank charters, banks contemplating the decision should weigh the benefits, like uniform supervision, and potential impediments, like costly exam fees, say attorneys at Skadden.
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9th Circ. Has Muddied Waters Of Article III Pleading Standard
District courts in the Ninth Circuit continue to apply a defunct and especially forgiving pleading standard to questions of Article III standing, and the circuit court itself has only perpetuated this confusion — making it an attractive forum for disputes that have no rightful place in federal court, say attorneys at Gibson Dunn.
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Series
Competing In Modern Pentathlon Makes Me A Better Lawyer
Opening myself up to new experiences through competing in modern Olympic pentathlon has shrunk the appearance of my daily work annoyances and helps me improve my patience, manage crises better and remember that acquiring new skills requires working through your early mistakes, says attorney Mary Zoldak.
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Shifting DEI Expectations Put Banks In Legal Crosshairs
The Trump administration's rollbacks on DEI-friendly policies create something of a regulatory catch-22 for banks, wherein strict compliance would contradict established statutory and administrative mandates regarding access to credit for disadvantaged communities, say attorneys at Husch Blackwell.
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Atkins' Crypto Remarks Show SEC Is Headed For A 'New Day'
A look at U.S. Securities and Exchange Commission Chairman Paul Atkins' recent speeches provides significant clues as to where the SEC is going next and how its regulatory approach to crypto will differ from that of the previous administration, say attorneys at Eversheds Sutherland.
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DOJ Memo Lays Groundwork For Healthy Bank Sponsorships
The U.S. Department of Justice's recent digital asset policy shift offers potential clarity in the murky waters of sponsor bank relationships, presenting nontraditional financial companies with both a moment of opportunity and a test of maturity, say attorneys at Arnall Golden.
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Series
Law School's Missed Lessons: Teaching Yourself Legal Tech
New graduates often enter practice unfamiliar with even basic professional software, but budding lawyers can use on-the-job opportunities to both catch up on technological skills and explore the advanced legal and artificial intelligence tools that will open doors, says Alyssa Sones at Sheppard Mullin.
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How IPR Estoppel Ruling May Clash With PTAB Landscape
Though the Federal Circuit's narrowing of inter partes review estoppel in Ingenico v. Ioengine might encourage more petitions, tougher standards for discretionary denial established by the U.S. Patent and Trademark Office could be a counterbalancing factor, say attorneys at Troutman Pepper.
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Texas Targets Del. Primacy With Trio Of New Corporate Laws
Delaware has long positioned itself as the leader in attracting business formation, but a flurry of new legislation in Texas aimed at attracting businesses to the Lone Star State is aggressively trying to change that, says Andrew Oringer at the Wagner Law Group.
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How AI May Reshape The Future Of Adjudication
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.
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What Money Transmitters Need To Know About New Colo. Law
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.
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When Legal Advocacy Crosses The Line Into Incivility
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.