Senator Scott's call for whistleblowers covers more than crypto, but it is consistent with this Congress's investigation into "Operation Chokepoint 2.0"—i.e. based on the view that there was a concerted effort by the previous administration and federal financial regulators to effectively suffocate the digital asset industry by preventing traditional financial institutions from engaging in crypto asset-related activities.

That Senator Scott's request comes nearly simultaneously…

Between this Executive Order and the SEC's of a new Working Group to be headed by Commissioner Peirce, the digital asset community is aglow with optimism for thoughtful and practical regulations. 

While the industry has often been accused of wanting no regulations, both buy-side and sell-side participants are eager for responsible regulations that encourage innovation while still protecting investors. In particular, there is hope for regulations that draw clear lines across the…

In the Complaint, the SEC asserted that the dispositive event demonstrating Mr. Musk's control purpose was when he began engaging with Twitter's Board of Directors about his potential role and acquisition plans. Specifically, the SEC highlighted that on March 27, 2022, Mr. Musk "privately informed a member of Twitter's Board of Directors ... that he owned at least seven percent of Twitter's outstanding common stock" and asked "whether [the director] had ever considered taking Twitter private…

It is important to understand that the Eastern District of Texas Court's Order is not a final determination of anything. CTA filings may yet be due by January 1, 2025, for relevant entities. This is not the only challenge to the CTA that is making its way through the Courts.

The US is one of the few OECD countries that, prior to the CTA, did not have a mechanism for tracking beneficial ownership of legal entities. Banks and broker-dealers are required to collect BO information as…