Analysis

OCC Leaves Itself Flexibility On Stablecoin Yield Question

By Aislinn Keely

The Office of the Comptroller of the Currency made clear in its recent stablecoin rule proposal that it plans to bar issuers from paying yields to holders in some instances, but legal experts say the regulator appears to be leaving itself considerable room to decide which arrangements cross a line.

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CFTC Gives Update On Crypto Collateral Expectations

By Aislinn Keely

The U.S. Commodity Futures Trading Commission gave registrants more information about its expectations around the use of crypto collateral in a Friday notice, which reminded futures commission merchants they must notify the agency's Market Participants Division if they plan to take advantage of a pilot program launched last year.

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State Judge Temporarily Bars Kalshi Wagers In Nevada

By Tom Lotshaw

A Nevada state judge temporarily blocked prediction market operator Kalshi from offering sports, election and entertainment related event contracts in the Silver State, finding regulators reasonably likely to prevail in an action alleging its event-based contracts violate gaming laws.

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Top SEC Enforcer Signals Continuity After Ryan Departure

By Sarah Jarvis

The U.S. Securities and Exchange Commission's acting enforcement chief said Friday that the agency will continue to "focus on quality over quantity" when it comes to the cases it brings, projecting continuity with his predecessor's approach after her abrupt departure from the agency earlier this week.

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White House Pushes Congress To Override State AI Laws

By Courtney Bublé

The White House directed Congress to preempt "burdensome" state laws on artificial intelligence in a legislative framework released Friday.

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UBS Gets Final OCC Nod For US Arm To Be National Bank

By Jon Hill

The Office of the Comptroller of the Currency has granted final approval for UBS Group AG to convert its U.S. depository subsidiary into a national bank, a move the Swiss banking giant is touting as a boon for its stateside growth ambitions.

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Brief

5th Circ. Won't Rehear FDIC Enforcement Challenge

By Jon Hill

The Fifth Circuit said Friday that it won't revisit a constitutional challenge to the Federal Deposit Insurance Corp.'s use of in-house enforcement proceedings, turning down a petition that had drawn support from the U.S. Chamber of Commerce and civil liberties groups.

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Ala. Co. Says $2M Bitcoin Mining Suit Must Be Arbitrated

By Joyce Hanson

An Alabama company targeted in a $2 million fraud lawsuit by a Singaporean firm that creates cryptocurrency via Bitcoin mining has told a federal judge that the disagreement should be arbitrated, saying the case is fundamentally a dispute over a contract that contains a mandatory arbitration clause.

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BofA Hit With 2nd Class Suit Over Alleged $328M Crypto Scam

By Carla Baranauckas

Bank of America and a New Jersey IRA‑LLC facilitator are facing a growing wave of litigation over their alleged roles in enabling the $328 million Goliath Ventures cryptocurrency scam, with two new federal class actions filed this week accusing them of helping steer retirement and investment funds into what prosecutors say was a massive Ponzi scheme.

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Roundup

UK Litigation Roundup: Here's What You Missed In London

By Laura Stewart Liberty

The past week in London has seen an ex-professional footballer revive a dispute with Charles Russell Speechlys, Virgin Media face a group data protection claim after hundreds of thousands of customers' personal details were exposed online for months, and Mishcon de Reya sued by a real estate private equity firm founded by a former Morgan Stanley executive.

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Roundup

Taxation With Representation: Clifford Chance, Davis Polk

By Zak Kostro

In this Week's Taxation With Representation, Public Storage acquires National Storage Affiliates Trust, 3M teams up with Bain Capital to buy Madison Fire & Rescue, and Mastercard acquires stablecoin infrastructure firm BVNK.

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Brief

Echo Payment Systems Files Ch. 7 Bankruptcy In Delaware

By Jarek Rutz

Echo Payment Systems Inc. has filed for Chapter 7 bankruptcy in the U.S. Bankruptcy Court for the District of Delaware, seeking to liquidate its assets and wind down operations, and the company will not attempt to reorganize but instead pursue an orderly liquidation under court supervision.

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Opinion

Clarity Act Would Clear Welcome Pathways For Blockchain

The framework proposed under the Senate Banking Committee's version of the Clarity Act creates reasonable compliance obligations and meaningful token-distribution opportunities that would open the door for more U.S.-based blockchain projects, without the heightened risk of securities litigation and regulatory enforcement, says Karen Ubell at Goodwin.

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5 Tips For Navigating Your Firm's All-Attorney Summit

Law firm retreats should be approached strategically, as they present valuable opportunities to advance both the firm's objectives and attorneys' professional development through meaningful participation, building and strengthening internal relationships, and proactive follow-up, says James Argionis at Cozen O’Connor.

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Labor & Employment Head Named Next Morgan Lewis Chair

By Tracey Read

Morgan Lewis & Bockius LLP announced Monday that the global leader of its labor and employment practice was unanimously elected as the firm's next chair to take over for Jami McKeon, who will retire at the end of the year.

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Social Media Atty Sanctioned For 'Most Shameful Moment'

By Craig Clough

A California judge on Monday sanctioned an attorney for the plaintiff in a bellwether trial alleging Meta Platforms and Google's social media platforms harm children's mental health, fining him $1,100 and keeping him off the plaintiffs' steering committee for violating court rules by twice filming inside the courthouse.

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NJ Judges Name US Atty In Apparent End To Leadership Fight

By Jake Maher

The New Jersey federal court on Monday appointed a career federal prosecutor to serve as U.S. attorney for the Garden State in what appears to end a lengthy standoff between district judges and the U.S. Department of Justice over leadership of the office.

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Immigration Judges To Challenge Their Firing At Fed. Circ.

By Britain Eakin

Attorneys for a pair of fired immigration judges said Monday they will ask the Federal Circuit to review a federal panel ruling that stripped them of civil service protections, warning of a dramatic expansion of presidential authority over the civil workforce.

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Day Pitney Fights DQ Over Ex-Justice's Time On Case He Heard

By Aaron Keller

Day Pitney LLP has apologized after former Connecticut Supreme Court Chief Justice Richard A. Robinson, now a firm partner, billed 15.7 hours for reviewing a since-remanded case he heard years ago as a justice, but the firm said the "error" should not disqualify its other lawyers from advancing the litigation. 

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Reed Smith Pushes To Continue Atty Depo In NJ Bias Suit

By Jake Maher

Reed Smith LLP is urging a New Jersey state trial court to allow it to resume its deposition of a former attorney suing it for gender discrimination years after the last deposition date in the wake of an appeals court decision widely expanding the scope of discovery.

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Ramey IP Attys, Client Must Pay $107K Fees In Bad-Faith Suit

By Emily Sawicki

A San Francisco federal judge has ordered three sanctioned attorneys, including Texas intellectual property lawyer William Ramey III, together with their client, to cover $107,389 in attorney fees stemming from three identical patent suits the lawyers launched and withdrew in 2024, also ordering Ramey to show cause why he should not face further sanctions.

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Roundup

Injury Law Roundup: Meta Atty Uses Jane Doe Plaintiff's Name

By Y. Peter Kang

A Meta attorney's gaffe and Mark Zuckerberg's testimony in the closely watched social media addiction bellwether trial, and an announced $7.25 billion settlement by Bayer over Roundup weedkiller claims, lead Law360's Injury Law Roundup.

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Catching Up With Delaware's Chancery Court

By Jarek Rutz

The Delaware Chancery Court's docket this past week featured high-stakes disputes involving major consumer brands, a reinstated video game executive, revived noncompete and compensation claims and fresh allegations of corporate misconduct in the healthcare sector.

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