Ropes & Gray Releases Quarterly Crypto Update
As part of a quarterly update, Ropes & Gray published a report covering recent litigation, regulatory, and legislative updates in the crypto space. In the regulatory space, The SEC increased its enforcement activity, announcing seven major enforcement actions and reportedly undertaking investigations into every U.S. crypto exchange, including both Coinbase and Binance. Additionally, the SEC doubled the number of attorneys in its Crypto Assets and Cyber Unit. Gensler also continued to maintain that the crypto industry does not need to be regulated any differently than any other financial services firms subject to securities laws. The update includes a discussion of private litigation, bankruptcy proceedings, as well as:
- How to navigate the ever-evolving regulatory landscape and recent actions put forth by the SEC, CFTC, and DOJ;
- Notable matters focused around securities litigation, data breaches, and fraud;
- Where crypto fits into the U.S. Bankruptcy Code in crypto-custodian bankruptcy proceedings; and,
- How readers should be looking ahead, and what the industry might expect for Q4 and the beginning of the new year.
Click here to read the quarterly newsletter from Ropes & Gray.