SEC's Atkins Mulls Broker, Exchange Rule Tweaks For Crypto

By Aislinn Keely

U.S. Securities and Exchange Commission Chair Paul Atkins on Friday floated a series of potential rulemaking efforts to address how regimes for brokers, exchanges, clearing agencies and other types of regulated functions apply to cryptocurrency software projects that don't fall within traditional categories.

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Block Sets Aside $240M Amid Talks To Settle DOJ Probe

By Jon Hill

Jack Dorsey's Block Inc. has reserved $240 million as it works to settle a U.S. Department of Justice investigation tied to short-seller allegations that it turned a blind eye to fraud on Cash App, its mobile payment platform, according to an investor filing late Thursday.

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OCC Rules Spur 7th Circ. Remand In Ill. Swipe-Fee Fight

By Jon Hill

The Seventh Circuit hit reset Friday in a closely watched legal challenge to a pending Illinois law that bans swipe fees on taxes and tips, directing a lower court to take another look at the case in light of new federal rules declaring the restrictions preempted for many banks.

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Coinbase Stole Patented Blockchain Network Tech, Co. Says

By Hailey Konnath

A Texas company has asked a federal court to block Coinbase from infringing a group of patents covering improvements to blockchain technology, pointing to two of the cryptocurrency exchange's products: the Coinbase Wallet and the Base app.

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Crypto Co. Kraken Files For OCC Trust Charter

By Katryna Perera

Cryptocurrency exchange Kraken, the first digital bank to hold a Federal Reserve master account, announced Friday it has applied for a national trust company charter with the Office of the Comptroller of the Currency to establish Payward National Trust Co., which would provide services for digital assets.

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White House Defends Pardon Process Following Dem Inquiry

By Courtney Bublé

The White House says it has a "rigorous" review process for pardons following an investigation launched by Democrats into possible corruption.

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Capital One Discloses 'Fair Access' Regulatory Inquiries

By Katryna Perera

Capital One has become the latest major bank to disclose that it is responding to demands and requests from government agencies related to President Donald Trump's "fair banking" executive order targeting alleged political and religious discrimination by financial institutions.

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Fintech Co. Will Pay $2.3M To End COVID Loan Fraud Case

By Hayley Fowler

A fintech company has agreed to pay $2.29 million to end claims it lied on an application for a COVID-19 Paycheck Protection Plan loan that it was not eligible to receive, the U.S. Attorney's Office for the Western District of North Carolina said Friday.

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Payment Processing Co. Sued Over Data Collection, Breach

By Sydney Price

Payment processing company Total System Services LLC has been hit with a proposed class action in Georgia federal court accusing it of failing to protect consumers' personal information from hackers, resulting in a well-established cybercriminal group stealing the data over a six-month period and likely leaking it earlier this month.

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Consumers Say Bank Can't Escape Fintech Collapse Suit

By Rachel Konieczny

Consumers who lost access to their funds following the 2024 collapse of fintech middleman Synapse Financial Technologies pushed back against an Arkansas bank's bid to escape a consolidated proposed class action, contending in Colorado federal court they sufficiently alleged fraud.

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Goliath Investors Add Companies To Alston & Bird Scam Suit

By Adrian Cruz

Months after suing Alston & Bird LLP for its alleged role in a $328 million cryptocurrency scam at Goliath Ventures Inc., a proposed class of investors added a number of financial institution defendants and claims to their original complaint.

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2 Firms Advise On OnlyFans Stake Sale At $3.15B Valuation

By Al Barbarino

OnlyFans owner Fenix International Ltd. said Friday it has agreed to sell a minority stake to investment firm Architect Capital in a deal valuing the company at $3.15 billion, with the transaction aimed at expanding the platform's financial services and creator tools.

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Roundup

Taxation With Representation: Corrs, Kirkland, Linklaters

By Zak Kostro

In this week's Taxation With Representation, gold companies Regis Resources and Vault Minerals combine, Long Lake Management acquires American Express Global Business Travel and Vodafone buys out CK Hutchison Holdings to become the sole owner of their telecommunications joint venture.

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Redgrave Adds Ex-Coinbase, AT&T Atty In DC Partner Hire

By Joyce Hanson

Electronic discovery and information law firm Redgrave LLP has hired a new partner to work in its Washington, D.C., office, saying he has played senior legal roles at a cryptocurrency exchange, a major telecommunications company and a disputes and forensic technology firm.

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Eversheds Sutherland Hires Ex-SEC Counsel In DC

By Matt Perez

Eversheds Sutherland has hired a 16-year veteran of the U.S. Securities and Exchange Commission as a counsel in its U.S. capital markets and investments practice group.

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OCC Proposal Frames Key Genius Act Implementation Issues

The Office of the Comptroller of the Currency's recently proposed rule under the Genius Act previews federal expectations on permissible activities for stablecoin issuers, offering an early guide to potential compliance burdens and state-federal equivalency debates as the stablecoin regulatory regime continues to take shape, say attorneys at Alston & Bird.

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Expect US Enforcers' Cartel Crackdown To Continue

Since agencies’ coordinated enforcement efforts targeting cartel-related activity have not slowed, U.S. companies in Latin America should assess new business lines for designated-cartel ties, scrutinize highest-risk third parties, and enhance training and internal investigation practices, say attorneys at Miller & Chevalier.

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The Ethics And Practicalities Of Representing AI Agents

With autonomous artificial intelligence agents now able to take action without explicit instructions from — or the awareness of — their human owners, the bar must confront whether existing frameworks like informed consent and client privilege will be sufficient on the day an AI agent calls seeking counsel, say attorneys at Morrison Cohen.

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Quinn Emanuel Founder Exiting Executive Chair Role

By Tracey Read

Four decades after high-stakes litigation firm Quinn Emanuel Urquhart & Sullivan first opened in Los Angeles, founding partner John B. Quinn is stepping down as executive chairman of the firm effective immediately.

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ChatGPT Suit Points To Ups And Downs Of Pro Se AI Use

By Cara Bayles

A recent lawsuit against OpenAI highlights many of the hopes and anxieties about pro se litigants using generative artificial intelligence to churn out legal arguments. The technology raises concerns about confidentiality, hallucinations and ethical issues, but some access-to-justice advocates worry the lawsuit may hinder technology that might democratize legal services.

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Burr & Forman Makes Navy Yard Permanent DC Home

By Jack Rodgers

Burr & Forman LLP has made its Navy Yard neighborhood office its permanent home in Washington, D.C., after launching in the city in 2025 with construction partners from Fox Rothschild LLP, the firm announced Monday.

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NJ AG's Office Avoids Defense Of Prosecutor In Ethics Case

By Jake Maher

The New Jersey Office of the Attorney General does not have to defend a county-level prosecutor in an ethics case over allegations he withheld exculpatory evidence, a state appeals court ruled in a precedential decision Monday.

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Squire Patton Taps New Leadership For Public Policy Team

By Andrea Keckley

Squire Patton Boggs LLP announced Monday that it has appointed a longtime partner to lead its global public policy practice.

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Analysis

Trading Scheme Is A 'Wake-Up Call' For BigLaw Compliance

By Chris Villani

The breadth of a decade-long insider trading scheme prosecutors say was fueled by stolen BigLaw merger information should jolt firms to reexamine their practices to close gaps in internal security, experts told Law360, even if totally eliminating bad actors is nearly impossible.

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ABA Advises Nixing Law School DEI Rules Under Scrutiny

By Emma Cueto

The Standards Committee of the American Bar Association's legal education arm has recommended that the section repeal its law school accreditation standards relating to diversity, equity and inclusion, saying that in the face of new government scrutiny, maintaining these requirements for law schools would jeopardize the section's status as a nationwide accreditor.

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Law Firm Says Data Breach Claims Lack Actual Identity Theft

By Zak Kostro

A law firm asked a Michigan federal judge to throw out a proposed class action alleging it allowed a cybersecurity breach to expose its clients' personal and medical information, saying the complaint fails to adequately assert any identity theft or fraud occurred because of the breach.

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Trump Taps 6 Judges, Including Picks Needing Blue Slips

By Courtney Bublé

President Donald Trump announced six judicial nominees on Monday, including picks for the Eighth and Tenth Circuits and two district court picks that needed support from Democrats.

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Colo. Trial Firm Seeks Fees Ruling In Case Against Injury Firm

By Rachel Konieczny

A trial law firm asked a Colorado state court to determine whether a personal injury firm the trial firm contracted with is entitled to fees after the defendant terminated the firms' of-counsel agreement and did so, the trial firm alleged, without good faith.

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