While ultimately declining to order the SEC to institute rule-making proceedings clarifying the regulatory treatment of digital assets, the Third Circuit nevertheless concluded that the SEC's decision "was conclusory and insufficiently reasoned, and thus arbitrary and capricious." This proceeding has been remanded to the SEC for a more complete explanation as to its decision to deny the petition.

Remanding the decision back to the SEC amidst a change in administration may yield an…

Just ten days before the change of administration, the CFPB issued a new proposed interpretive rule placing crypto within the ambits of the EFTA and Regulation E. 

The proposed rule appears to address two conflicting cases out of the Southern District of New York—Judge Denise Cote's . and Judge Lewis J. Liman's —with the goal of creating more consistency. The proposed rulemaking describes fungible digital assets as "funds" under the EFTA, and, more importantly, it erases Yuille's…

The CFTC's sudden settlement with the firm comes as a bit of a surprise, but it seems that this settlement is yet another example of the changing position of regulators with respect to crypto. Perhaps the CFTC's settlement with the firm is, as , an acknowledgement of a "more dovish stance" toward crypto.

It appears that the regulatory headwinds are shifting ahead of Donald Trump's inauguration. This CFTC settlement is the latest example of early shifts around the margins, which…

President-elect Donald Trump's  to nominate Paul Atkins for SEC Chair is a positive sign for those supporting the digital assets industry. 

Mr. Atkins has been a supporter of crypto for a long time, having co-chaired the Token Alliance with The Digital Chamber (formerly The Chamber of Digital Commerce). When he , he emphasized the goal of "seeking to bring about regulatory clarity for token projects[.]" The industry is now expecting that Mr. Atkins will pursue the…