In a recent Law360 article, Baker McKenzie partners David Zaslowsky and Peter Chan explore how the US Digital Asset Market Clarity Act, though still pending in Congress, can be used to influence litigation strategy in crypto‑related matters in terms of shaping how courts, regulators and litigants view questions of jurisdiction, classification and regulatory uncertainty.David and Peter explain that even before enactment, the Clarity Act can be used to strengthen fair‑notice and due‑process arguments, support stays…
IRS Form 1099-DA, “Digital Asset Proceeds,” is being rolled out starting with the 2025 tax year. With this new form, the federal government is moving crypto reporting toward the familiar broker-based regime long used for stocks and bonds. However, for those who actively engage with decentralized finance (DeFi), Form 1099-DA may cause increased confusion, inaccurate reporting, and heightened audit risk stemming from the mismatch between how crypto transactions actually function and how they will be…
California’s long‑anticipated digital asset licensing regime has finally arrived. Beginning today – Monday, March 9, 2026 – the California Department of Financial Protection and Innovation (“DFPI”) will be accepting license applications under the state’s Digital Financial Assets Law (“DFAL”). This marks the true operational start of California’s digital asset regulatory framework, and the beginning of the compliance clock for companies operating in California, placing the DFPI alongside the New York State Department of Financial Services…
On January 29, 2026, the U.S. Securities and Exchange Commission (“SEC”) and the Commodity Futures Trading Commission (“CFTC”) held a closely watched joint public meeting on cryptocurrency regulation and market structure. Led by SEC Chair Paul Atkins and CFTC Chair Michael Selig, the meeting marked one of the most visible efforts in years to present a coordinated federal regulatory approach to digital assets. While the meeting did not result in new rules, its importance lies…
Gemini Trust Company (“Gemini”) is a New York‑based cryptocurrency trust company founded by Tyler and Cameron Winklevoss. The associated cryptocurrency exchange is now known as Gemini Space Station. The Securities and Exchange Commission’s 2023 lawsuit against Gemini was one of the most closely watched legal battles to emerge from the turmoil of the 2022 crypto‑market collapses. On January 23, 2026, the lawsuit came to an end with a dismissal of the case. The Underlying Lawsuit…
In a decision on December 30, 2025, Judge Roy Altman of the of the U.S. District Court for the Southern District of Florida dismissed a putative class action lawsuit against Mark Cuban and the Dallas Mavericks basketball team. Karnas v. Cuban, No. 22-cv-22538- Altman (S.D. Fla. Dec. 30, 2025). The suit alleged wrongdoing related to their marketing of a cryptocurrency platform. Background (from the Complaint) Voyager Digital, LLC (“Voyager”) launched the “Voyager Platform” in October…
On December 4, 2025, the U.S. Commodity Futures Trading Commission (CFTC) announced that spot cryptocurrency products will begin trading for the first time on federally registered futures exchanges. This decision, announced by Acting Chair Caroline Pham, is part of a deliberate effort to bring the largely offshore and sometimes volatile spot crypto market under a U.S. regulatory umbrella, offering investors the robust customer protections and market integrity associated with century-old federal standards. Under this new framework,…
The Canadian Securities Administrators (CSA) have recently issued a reminder to crypto-backed lending platforms regarding their obligations under securities law, reinforcing the importance of regulatory compliance in a rapidly evolving digital asset landscape. In its October 22, 2025 notice, the CSA emphasized that crypto-backed lending platforms (“Platforms”) may be subject to securities legislation and encouraged such Platforms to comply with applicable regulatory requirements, including securities registration requirements, or seek exemptive relief. According to the CSA,…
Three months ago, we wrote about a record $225 million cryptocurrency seizure by the U.S. Secret Service connected to a “pig butchering” scheme. That amount pales in comparison to the U.S. Department of Justice’s announcement on October 14, 2025 that it had filed a civil forfeiture complaint against approximately 127,271 Bitcoin (the cryptocurrency defendant in the case), which are presently in the custody of the U.S. government. Using the current Bitcoin price, the value is…
We recently wrote about how the United Kingdom and the United States jointly launched the Transatlantic Task Force for Markets of the Future and how it had the potential to reshape the global regulatory landscape for digital assets. We wondered about how the EU might respond. Verena Ross, Chair of the European Securities and Markets Authority (ESMA), recently made headlines in an interview with the Financial Times by confirming that the European Commission is drafting…