

A U.S. federal judge dismissed a lawsuit against Binance, stating that plaintiffs could not prove that the exchange knowingly facilitated terrorist activities. The case, involving over 500 victims related to attacks from 2017 to 2024, highlighted challenges in establishing liability for cryptocurrency platforms. Meanwhile, U.S. crypto legislation stalled due to disagreements over stablecoin rewards, reflecting…

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.…

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…

Following our Introduction, posted last week, today’s article is Part I of our multi-article series: Is Crypto a Security? U.S. securities law does not contain a dedicated statute for digital assets. Instead, the SEC and courts continue to apply the investment contract doctrine from SEC v. W.J. Howey Co.—a 1946 Supreme Court case involving orange…

The classification of crypto assets as securities remains a complex issue in 2025, despite years of regulatory scrutiny. Courts have varied in their interpretations, distinguishing between the tokens themselves and their sales context. While the SEC’s aggressive enforcement has created uncertainty within the regulatory environment, recent indications show a possible shift towards clearer guidelines and…

In Paul Atkins’ speech, “The SEC’s Approach to Digital Assets,” he indicates a shift in the SEC’s regulatory stance, from strict enforcement to embracing digital asset innovation while prioritizing market integrity. He introduces a taxonomy for digital assets, distinguishing between securities and non-securities based on their functionality. Atkins highlights that tokens might evolve from investment…