FDIC Plans No Pass-Through Stablecoin Insurance, Hill Says

By Jon Hill

Federal Deposit Insurance Corp. Chairman Travis Hill said Wednesday that his agency will propose expressly excluding payment stablecoins from pass-through insurance coverage, outlining the move as part of a wide-ranging update on his to-do list of regulatory initiatives.

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Analysis

Trump Cybercrime Order Creates New Compliance To-Do List

By Phillip Bantz

President Donald Trump's recent executive order calling for a coalition of government agencies to combat cybercrime is far more forceful than efforts under prior administrations, according to white collar lawyers, who tentatively applaud the proposal while warning it could raise new compliance risks.

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Kalshi Sues Iowa Regulators To Shield Sports Event Contracts

By Katryna Perera

Kalshi sued Iowa state regulators Wednesday, seeking to stop the state from taking enforcement action against the prediction market's sports-event contracts, following a script that has played out across several states.

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Dems Float Bill To Ban Death-Tied Event Contracts

By Aislinn Keely

Two Democrats from California are proposing to outlaw event contracts that reference or relate to terrorism, war or an individual's death amid the rise of certain prediction markets involving political shake-ups.

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Fed's Bowman Eyes 'Fine-Tuning' Of Bank Merger Reviews

By Jon Hill

Federal Reserve Vice Chair for Supervision Michelle Bowman said Wednesday that federal regulators are taking a look at the competition metrics used to evaluate bank mergers, signaling potential changes to the thresholds that guide when deals raise antitrust concerns.

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Tether, Bitfinex Appeal Class Cert. In Bitcoin Rigging Suit

By Katryna Perera

Digital asset companies Tether and Bitfinex have petitioned the Second Circuit to review a New York federal judge's recent decision granting class certification to two classes of investors in a suit accusing the companies of rigging the cryptocurrency market and costing investors hundreds of billions of dollars.

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Investor Says JPMorgan Enabled $328M Crypto Scam

By Carolina Bolado

A proposed class suit filed Tuesday in California federal court accuses JPMorgan Chase Bank NA of enabling a $328 million cryptocurrency scam at Florida-based Goliath Ventures Inc.

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GreenSky, Ex-Workers Settle Wage Claims Amid Arbitration

By Chart Riggall

GreenSky LLC told a Georgia federal court Wednesday it's reached a settlement in a wage suit from former customer service employees a month after the fintech company won a bid to force the suit into arbitration.

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Fintech Lender Hit With 2nd Suit Over Cyberattack

By Isaac Monterose

A proposed class has accused a blockchain-based lender in North Carolina federal court of failing to protect their personally identifiable information from hackers, the second such lawsuit the company is facing over a recent data breach.

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Why The NCUA's Stablecoin Moment Matters

The National Credit Union Administration, a historically conservative federal agency, recently proposed a detailed stablecoin licensing framework, confirming that the proposition of building a regulatory architecture within the banking industry has moved well past "whether" and firmly into "how," says Stephen Aschettino at Fox Rothschild.

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Del. Coinbase Outcome May Have Been Different In Texas

The Delaware Court of Chancery's recent decision in Grabski v. Andreessen, finding that a member of the Coinbase special litigation committee was not independent, provides guidance for Delaware boards regarding the formation, composition and operation of SLCs, while offering a counterpoint to the procedures available to Texas-incorporated companies, says John Lawrence at Baker Botts.

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Ex-DOJ Atty Who Said 'This Job Sucks' Running For Congress

By Courtney Bublé

The former federal government lawyer detailed to Minnesota to help with immigration cases who last month told a federal judge "this job sucks" says she is running for Congress in the state.

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$600M IP Award, Quinn Emanuel Contempt Faulted On Appeal

By Ryan Davis

The Federal Circuit on Wednesday vacated a verdict against the maker of Norton antivirus software for infringing Columbia University patents and reversed a contempt ruling against Norton's former law firm Quinn Emanuel Urquhart & Sullivan LLP that had caused the judgment to grow to just over $600 million.

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Feature

Exxon Cements Texas As Delaware's Emerging Rival

By Spencer Brewer

Last year, Vinson & Elkins partner Katherine Frank fielded about one call a week from companies thinking about redomiciling in Texas. Speaking to Law360 the day after ExxonMobil announced its plan to reincorporate in the Lone Star State due to its business-forward courts and policies, Frank said the callers fell into three categories.

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Firm Probed In $4B LA Sex Abuse Deal Hit With UPL Charges

By Rachel Rippetoe

A co-founder of the Los Angeles personal injury firm facing investigation for its involvement in a record $4 billion sex abuse settlement against Los Angeles County was hit with disciplinary charges by the California State Bar, alleging the firm illegally practiced law outside the state.

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3 Attys Escape Ford's 'Retaliatory' Lemon Law RICO Suit

By Linda Chiem

A California federal judge has shut down Ford Motor Co.'s revised racketeering lawsuit accusing three attorneys affiliated with Knight Law Group LLP of orchestrating a massive fraudulent legal billing scheme, saying the attorneys' underlying conduct in pursuing lemon law litigation is shielded by First Amendment protections.

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Judges, Lawmakers Urge 4th Circ. To Affirm Halligan Ruling

By Ryan Boysen

Members of Congress and former federal judges have urged the Fourth Circuit to affirm that Lindsey Halligan was not properly appointed as the U.S. attorney for the Eastern District of Virginia, saying the episode exemplifies why there are guardrails against installing political loyalists as federal prosecutors.

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VA, DOJ Cut Deal To Make Attys Mental Health Guardians

By Mark Payne

Under a new initiative, attorneys at the U.S. Department of Justice will serve as legal guardians for some homeless veterans, the Trump administration announced on Wednesday, though some veterans advocates expressed concern that the new program could involuntarily coerce veterans experiencing mental health issues into institutional care.

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