Banking groups are making a push for stronger language prohibiting stablecoin yield payments ahead of a looming Thursday markup of the Senate banking committee's long-awaited proposal to regulate crypto markets.
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TOP NEWS

'We Need Your Help': Banks Rallied For Stablecoin Yield Fight

By Aislinn Keely

Banking groups are making a push for stronger language prohibiting stablecoin yield payments ahead of a looming Thursday markup of the Senate banking committee's long-awaited proposal to regulate crypto markets.

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Fed's Bowman Says Bank Ratings Changes Are On The Way

By Jon Hill

Federal Reserve Vice Chair for Supervision Michelle Bowman said Friday that regulators are preparing an overhaul of a key ratings system used for grading the condition of banks, casting it as part of a broader push to refocus bank oversight on so-called material financial risks.

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SEC Sends Plan To Nix Settlement 'Gag Rule' To White House

By Sarah Jarvis

The U.S. Securities and Exchange Commission has submitted to the White House a plan for rescinding a more than 50-year-old policy of restricting defendants who settle enforcement actions from denying the claims against them.

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Kalshi To Take Arizona Injunction Bid To 9th Circ.

By Aislinn Keely

Kalshi Inc. on Monday told the federal court overseeing its sports contract brawl with Arizona regulators that it's appealed an order denying its request to enjoin Arizona officials from enforcing state gaming laws against it to the Ninth Circuit.

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LITIGATION

Binance Wants Last Claim Tossed In Hamas Victims' Suit

By Sydney Price

Binance and its former CEO Changpeng Zhao have asked a Manhattan federal court to toss the last remaining claim in a lawsuit alleging the cryptocurrency exchange aided and abetted the terrorist group Hamas' attack in Israel, saying recent decisions in similar cases support dismissal.

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Binance Takes Investor Suit Arbitration Bid To 11th Circ.

By Sydney Price

Binance and former CEO Changpeng Zhao are asking the Eleventh Circuit to review a Florida federal judge's decision denying their bid to compel arbitration of a proposed class action alleging that the crypto trading platform knowingly violated U.S. regulatory requirements.

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EXPERT ANALYSIS

Binance Win Shows Constraints On Anti-Terrorism Act Claims

The Southern District of New York's recent ruling in Troell v. Binance illustrates that the Second Circuit's earlier decision in Ashley v. Deutsche Bank is holding weight with courts, and companies facing aiding and abetting risk should thus monitor evolving case law and assess exposure based on nexus allegations, say attorneys at Freshfields.

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Understanding The Insider Trading Gap In Prediction Markets

While the first-ever insider trading indictment involving a prediction market — the recent prosecution of a service member involved in the capture of Nicolás Maduro — comprised extreme facts and straightforward legal theories, future cases will test the bounds of insider trading law, say attorneys at Baker McKenzie.

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Heppner Ruling Left AI Privilege Risk For Lawyers Unresolved

While a New York federal judge’s recent ruling in U.S. v. Heppner resolved a privilege question surrounding client-side artificial intelligence use, it did not address how to mitigate the risks that can arise when confidential information enters the operative context of an AI system used by an attorney, says Jianfei Chen at Quarles & Brady​​​​​​​.

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LEGAL INDUSTRY

How They Won It

Attys For Tufts Profs Didn't Blink In A Tenure Standoff

By Julie Manganis

When Jennifer Henricks and Kevin Peters first learned what was happening to tenured professors at Tufts University School of Medicine in Boston a few years ago, they knew that what was at stake involved more than just a dispute over the terms of a contract.

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Palestinian Ex-Associate Slaps DLA Piper With Bias Claim

By Lynn LaRowe

DLA Piper has been hit with a federal civil rights lawsuit in Illinois from a former summer associate alleging discrimination, a hostile work environment and retaliation based on her identity as a Palestinian, Gazan, Arab and Muslim woman.

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Fired Immigration Judge Says Trump Can't Skirt Bias Laws

By Grace Elletson

A former immigration judge urged a D.C. federal court not to throw out her bias suit challenging her firing, arguing the U.S. Department of Justice was pushing the "breathtaking proposition" that the president was empowered to commit unlawful discrimination.

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Law Student Can't Get School To Nix Kirk Comment Discipline

By Mike Curley

A Texas federal judge on Tuesday said the court cannot force Texas Tech University's leaders to rescind a reprimand against a law student who allegedly celebrated following the death of Charlie Kirk, as the university has sovereign immunity.

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Michigan Dems Noncommittal On Trump's Judicial Pick

By Courtney Bublé

Michigan's two Democratic senators played it coy on Tuesday when asked if they would support the district court nominee for their state that the president announced the night before.

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PayPal Settles Gov't DEI Probe With Small Biz Program

By Sarah Jarvis

The U.S. Department of Justice announced Tuesday that it has reached a settlement with PayPal Inc. to end an investigation into what the department said was a discriminatory investment program for Black- and minority-owned businesses.

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COMPANIES IN TODAY'S NEWS

American Association of University Professors

American Bankers Association

Bank Policy Institute

Binance Holdings Ltd.

Binance.US

Coinbase Global Inc.

Conference of State Bank Supervisors

Consumer Bankers Association

Danske Bank Group

Deutsche Bank AG

Financial Services Forum

Gallup Inc.

Independent Community Bankers of America

International Business Machines Corp.

Kalshi Inc.

New Civil Liberties Alliance

New York University

Paypal Holdings Inc.

Stanford University

Steward Health Care System LLC

LAW FIRMS IN TODAY'S NEWS

Alden Law Group PLLC

Baker & Hostetler

Baker McKenzie

Boies Schiller

Carlton Fields

Cleary Gottlieb

DLA Piper

David Boies

Dickinson Wright

Faegre Drinker

Fox Rothschild

Freshfields

Gesmer Updegrove

Milbank LLP

Partridge Snow

Perles Law Firm

Quarles & Brady

Seiden Law

Seyfarth Shaw

Skadden Arps

Snell & Wilmer

Troutman

Withersworldwide

GOVERNMENT AGENCIES IN TODAY'S NEWS

Arizona Attorney General's Office

Commodity Futures Trading Commission

Commonwealth of Massachusetts

Executive Office for Immigration Review

Federal Deposit Insurance Corp.

Federal Financial Institutions Examination Council

Federal Reserve System

Financial Crimes Enforcement Network

Office of Foreign Assets Control

Small Business Administration

U.S. Army

U.S. Attorney's Office

U.S. Attorney's Office for the District of Arizona

U.S. Court of Appeals for the Second Circuit

U.S. Department of Justice

U.S. District Court for the District of Arizona

U.S. District Court for the District of Columbia

U.S. District Court for the Eastern District of Michigan

U.S. District Court for the Eastern District of Pennsylvania

U.S. District Court for the Northern District of California

U.S. District Court for the Northern District of Illinois

U.S. District Court for the Northern District of Texas

U.S. District Court for the Southern District of Florida

U.S. District Court for the Southern District of New York

U.S. Securities and Exchange Commission

U.S. Supreme Court

US Office of Management and Budget