SEC Outlines Disclosure Expectations for Offerings and Registrations of Securities in Crypto Asset Markets
On April 10, 2025, the SEC’s Division of Corporation Finance (the Division) released a statement providing its views on disclosure requirements for Offerings and Registrations of Securities in the Crypto Asset Markets.
Read More >UPDATE: Trump Signs Joint Resolution Repealing DeFi Broker Reporting
President Donald Trump signed a joint resolution on April 10, 2025, repealing the DeFi broker reporting regulations. Participants in DeFi ecosystems will not need to comply with the now-repealed regulations, which were slated to into effect for transactions occurring on or after January 1, 2027.
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DOJ Memo Refocuses Digital Assets Enforcement Priorities, Dissolves Crypto-Enforcement Unit
The Department of Justice (DOJ) released a memo introducing new enforcement priorities for digital assets, stating it is not a digital asset regulator and disbanding its crypto-enforcement unit.
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SEC’s Corp Fin Says Most Stablecoins Are Not Exchanged in Securities Transactions
The statement also provides guidance on which marketing statements about stablecoins are indicia that a stablecoin is not offered or sold as a security.
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Crypto Litigation and Enforcement: Q1 2025 – Key Takeaways and Updates
The SEC has dismissed or settled numerous high-profile crypto cases, signaling a shift in enforcement strategy. Although the nature of regulatory enforcement may be changing, the Department of Justice continues to pursue cases involving fraud and market manipulation.
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SEC Statement on Crypto Mining Signals Shift Away from Securities Enforcement
A new statement from the SEC’s Division of Corporate Finance says proof-of-work crypto mining is not a securities transaction. Considering the Howey factors, it concludes that there is no expectation of profits from the efforts of others in either “self-mining” or “mining pools.”
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OCC Reaffirms Bank Authority to Engage in Cryptocurrency Activities
On March 7, 2025, the Office of the Comptroller of the Currency (OCC) published Interpretive Letter 1183, which is expected to clarify and streamline national banks’ ability to engage in cryptocurrency activities.
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Rollback of DeFi Reporting Regs Advances Through Congress
The joint resolution to roll back DeFi broker reporting regulations has passed the U.S. Senate, and a companion bill stands before the House of Representatives. The resolution would unravel DeFi broker reporting regulations issued late in the Biden Administration.
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Entertainment or Investment? The SEC’s Stance on Meme Coins as Securities
On February 27, 2025, the Securities and Exchange Commission’s (SEC) Division of Corporation Finance (Corp Fin) published a new staff statement intended to clarify the application of federal securities laws to meme coins.
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The Legal Landscape for DAOs: Key Lessons from Lido DAO and Ooki DAO
As is the case with much of the blockchain industry, decentralized autonomous organizations (DAOs) are unique. The existence of a DAO does not necessarily imply the existence of a legal entity or an intent to share profits. Rather, a DAO is composed of a decentralized group of governance tokenholders who can direct the development of a blockchain ecosystem.
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Crypto Regulatory Updates
- SEC’s New Crypto Assets and Cyber Unit Focuses on Bad Actors and ‘Judicious’ Enforcement
- Meet CFTC Nominee Brian Quintenz
- President’s Crypto Advisor Commits to Progressing New Reg. Framework as Congressional Working Group is Announced
- SEC’s Crypto Task Force Sets Regulatory Priorities as Enforcement Focus Shifts
- The Rise (and Risks) of AI Agents in Crypto
- Senators Introduce Joint Resolution on Revoking DeFi Broker Reporting Regulations
- How the Current SEC Could Affect Ongoing Crypto Enforcement and ‘Impact Litigation’
- President Trump Signs Executive Order to Form Working Group With Stated Goal of Making the US the ‘World Capital’ of Crypto, AI
- Crypto Week in Review (January 20–24, 2025)
- New SEC Crypto Task Force Led by Commissioner Hester Peirce: Key Takeaways and Path Forward
- Looking Under the Hood of $TRUMP's Legal Strategy
- IRS Final Broker Reporting Regulations for DeFi
- Tokenized Real-World Assets: Pathways to SEC Registration
- Partner Mark Jansen Cited in USPTO Report to Congress on NFTs
- Q3 2024 Crypto Litigation and Enforcement - Key Takeaways and Updates
- Q3 2024 Quarter in Review Webinar (Registration Required)
- H1 2024 Crypto Litigation and Enforcement - Key Takeaways and Updates
- Q1 2024 Quarter in Review Webinar (Registration Required)
- SEC Finalizes “Dealer” Regulation – Uncertain Impact to Cryptoasset Market Participants
- FASB Issues Significant Update on Accounting for Crypto Assets
- SEC’s Crypto Accounting Bulletin Determined Procedurally Deficient
- Fenwick Writes Comment Letter Regarding the Taxation of Digital Assets to the Senate Committee on Finance
- IRS Releases Proposed Regulations on Digital Asset Transaction Reporting
- IRS Issues Revenue Ruling 2023-14 on Staking
- SEC v. Ripple Labs: Securities Law Analysis Under Howey Applied On A Transaction-By-Transaction Basis
- Exploring Legal and Regulatory Considerations for DAOs
- Navigating Taxation Challenges and IRS Audits in the Current Web3 Landscape
Where to Find Us
AI Agents in Crypto: Paradigm Shift or Just a Meme?
March 12, 2025
Join Fenwick attorneys Andrew Klungness, Julia Arruda Rosenthal, Kevin Kirby and Jonathan Edwards as they dive into the emerging world of crypto-powered AI agents and the legal issues with autonomously directed software.
Register for the Webinar
Quarter in Review: Crypto Litigation and Enforcement Updates
March 20, 2025
Join Fenwick litigation partner Dave Feder and associate Rebecca Matsumura for the third session in a quarterly series of updates on the latest cryptocurrency and digital asset disputes, enforcement actions, and key rulings. Corporate associate Christopher Crawford will moderate the discussion.
Register for the Webinar