

A federal court has blocked Binance’s attempt to push token-sale lawsuits into arbitration, allowing investors to proceed in federal court. Turkey has proposed a new tax framework for cryptocurrencies, including a 10% tax on gains. A court dismissed liability claims against Uniswap, emphasizing the liability distinction for decentralized platforms. Kraken’s banking arm gained access to…

Stablecoins, previously operating in a regulatory gray area, are facing a potential shift towards a comprehensive federal supervisory framework following a proposed rule from the Office of the Comptroller of the Currency (OCC). This rule, part of the GENIUS Act, would require issuers to be designated as “Permitted Payment Stablecoin Issuers,” effectively regulating them like…

The Clarity Act has a high likelihood of passing soon, according to Ripple’s CEO, with key components debated, particularly around stablecoin structures. A March 1 deadline set by the White House aims to resolve these issues, potentially facilitating comprehensive digital asset legislation. The SEC has eased capital treatment for certain stablecoins, enhancing their appeal for…

The CFTC has formed a 35-member Innovation Advisory Committee to advise on how emerging technologies interact with derivatives markets. Treasury Secretary Scott Bessent is advocating for the Clarity Act to stabilize cryptocurrency regulations. The UK’s FCA is pushing to block access to HTX for unauthorized promotions, while the CFTC asserts its jurisdiction over prediction markets.…

Former SafeMoon CEO Braden Karony has been sentenced to over eight years in prison for defrauding investors, underscoring U.S. legal consequences for crypto fraud. Meanwhile, EU lawmakers are backing the digital euro to modernize the financial system, while Polymarket and Coinbase are engaged in lawsuits challenging states’ regulation of prediction markets as gambling. Additionally, the…

In 2025, compliance for token issuers, exchanges, and developers is focused on proactive, transparent processes, rather than merely fulfilling legal requirements. Token issuers must ensure utility before launch, avoid misleading promotions, and utilize established securities exemptions. Exchanges must implement comprehensive token-classification frameworks and monitor communications. Developers and DAOs are advised to minimize reliance on central…

In 2025, U.S. digital asset regulation is characterized by fragmentation and shifting agency priorities. The SEC has shifted from aggressive enforcement to a more measured approach, emphasizing comprehensive frameworks over regulation-by-enforcement. However, dual jurisdiction with the CFTC complicates classifications of tokens as either commodities or securities, leading to regulatory uncertainty. Congress is debating various proposals…

Digital-asset activity has evolved far beyond simple token sales. Today, many of the most consequential legal questions arise not from standalone issuances, but from programmatic mechanisms—staking arrangements, liquidity pools, lending protocols, airdrop campaigns, and NFT ecosystems. These structures often challenge traditional securities analysis because value is generated through a mix of code, incentives, governance, and…

The Token Itself Is Not Always the Security A central development in modern crypto jurisprudence is the growing recognition that a token, standing alone as a digital object, is not automatically a security. What may constitute a security is the investment contract—the arrangement, scheme, or promises surrounding the token’s distribution—rather than the token itself. Several…

Since the inception of digital assets, “utility token” has been perceived as a non-security designation. However, the SEC has challenged this notion, treating utility as only one aspect of a broader evaluation under the Howey test. Courts assess whether purchasers rely on issuers’ efforts for token value, focusing on sales timing and issuer control. Even…