A White House crypto aide said Wednesday that Congress' failure to pass the Clarity Act leaves the U.S. Commodity Futures Trading Commission without authority over spot crypto markets, which could limit the agency's plans to stand up a digital asset framework in the absence of crypto market structure legislation.
A White House crypto aide said Wednesday that Congress' failure to pass the Clarity Act leaves the U.S. Commodity Futures Trading Commission without authority over spot crypto markets, which could limit the agency's plans to stand up a digital asset framework in the absence of crypto market structure legislation.
Attorneys for Kalshi and four New Mexico Indigenous nations clashed Wednesday in New Mexico federal court over whether the prediction market platform is operating unlawful Class III gambling on tribal lands in violation of the Indian Gaming Regulatory Act, with arguments centering on precedent and nonmember tribal activity.
A coalition of state lawmakers has urged the U.S. Supreme Court to review a Third Circuit decision allowing Kalshi to keep its sports offerings online in New Jersey, emphasizing that sports betting oversight must be left to the states.
Every Democratic senator on the Banking Committee on Wednesday urged the panel's chairman, Sen. Tim Scott, R-S.C., to hold a public hearing on prediction markets, the same day Scott held a Republican member meeting with the CEO of sports betting platform Kalshi.
An Illinois federal judge expanded an order blocking the state from enforcing its landmark ban on tax-and-tip swipe fees against most banks, ruling that an injunction she granted earlier this year extends to federal credit unions in light of a new federal rule that authorizes them to collect interchange fees.
A California federal court has granted data cloud platform Cerebellum Networks Inc.'s motion to compel arbitration in a former employee's $100 million suit accusing company executives of running a pump-and-dump cryptocurrency fraud scheme.
A proposed class action accusing Bank of America NA of illegally sharing customer information with law enforcement after the Jan. 6, 2021, U.S. Capitol attack has quietly come to an end, according to a notice filed late Tuesday in Florida federal court.
Despite a newly issued Office of the Comptroller of the Currency and the Federal Deposit Insurance Corp. rule that narrows the range of conduct that regulators may require institutions to remediate, prudent risk management suggests banks should still document how they arrive at their risk determinations, say attorneys at Crowell & Moring.
California’s first-in-the-nation act regulating how attorneys and arbitrators use generative artificial intelligence will likely soon become law, but read broadly, the provisions may dissuade lawyers from employing AI at all, thereby depriving them of key work tools, says Joshua Wurtzel at Schlam Stone.
Tarter Krinsky & Drogin LLP said in a letter this month that a data breach last year may have compromised protected health information the firm possessed due to its representation of an unnamed healthcare provider.
A New York federal judge has reprimanded counsel for a writer in a failed copyright infringement lawsuit over the "Crave" book series, insisting the plaintiff answer all questions in a deposition over attorney fees and writing that she was "tired of this" and "indeed being jerked around."
The Fourth Circuit balked late Wednesday at freeing Tom Goldstein from prison as he fights felony convictions, and it rejected fast-track review of the renowned appellate advocate's trial, indicating he'll likely spend substantial time behind bars even if his appeal succeeds.
The Judicial Conduct and Disability Act has worked well in allowing the judicial branch to govern itself for nearly 50 years, but the ongoing suspension of Federal Circuit Judge Pauline Newman has exposed gaps that could be addressed with newly introduced legislation, attorneys say.
The Senate voted 50-47, along party lines, on Wednesday to confirm Angela Colmenero, deputy chief of staff to Texas Gov. Greg Abbott, to serve on the Southern District of Texas.
A key U.S. Department of Education committee deadlocked Wednesday over whether the American Bar Association council responsible for approving law schools should continue as a federally recognized accreditor, tabling the issue until Thursday after different proposals failed to win majority support.
