digital assets – Global Investment Law Watch

United States: The Wait Is Over: SEC Approves Generic Listing Standards Benefitting Commodity-Based ETPs

Sep 19 2025

Marking a monumental step forward for the launch of crypto asset exchange-traded products (ETPs), the Securities and Exchange Commission (SEC) approved rule changes by three exchanges to adopt generic listing standards for ETPs that hold spot commodities, including crypto assets. Provided that the ETPs satisfy certain conditions, they will be able to be listed and commence trading more quickly, as their exchanges will not need to submit proposed rule changes for each issuer.

United States: That’s Genius! House of Representatives Passes GENIUS Act of 2025

Jul 18 2025

By: Keri E. Riemer and Richard F. Kerr

On 17 July 2025, the US House of Representatives passed the Guiding and Establishing National Innovation for US Stablecoins of 2025, or the GENIUS Act of 2025. The bill establishes a regulatory framework for payment stablecoins (i.e., digital assets which an issuer must redeem for a fixed monetary value).

Australia: The Regulatory Developments for FY25 That Fund Managers Can’t Afford to Ignore

Jul 09 2025

By: Jim Bulling and Ben Kneebush

As we have now said goodbye to FY25, we look back on some of the more significant regulatory developments that fund managers can’t afford to ignore.

Australia: AML Reforms Part 2: Digital Currency Service Providers

May 23 2024

By: Daniel Knight and Kithmin Ranamukhaarachchi

The Australian Attorney-General’s Department (Department) has released five consultation papers outlining proposals for extensive reforms to Australia’s anti-money laundering and counter-terrorism financing (AML/CTF) regime.

United States: FINRA’s Findings: Member Firms Get Failing Grade in Crypto Communications

Jan 25 2024

By: Richard Kerr

On 23 January 2024, the Financial Industry Regulatory Authority (FINRA) published its findings from a 2022 targeted exam sweep, which may serve as a warning to broker-dealers offering crypto asset products. FINRA conducted a sweep reviewing communications made between 1 July 2022 and 30 September 2022 by member firms in connection with crypto assets and crypto-related products and services, focusing on compliance with FINRA Rule 2210 (Communications with the Public). The exam focused not only on written material, but also on communications made via websites, podcasts, advertisements, social media, and other public channels.

Asia: Tokenisation of SFC-authorised Investment Products: What You Need to Know

Nov 13 2023

By: Carolyn Sng and Tan Choo Lye

The Securities and Futures Commission of Hong Kong (SFC) has on 2 November 2023 issued guidance for the tokenisation of investment products authorised by it for offer to the public in Hong Kong, such as mutual funds, unit trusts and other collective investment schemes. The SFC is adopting a see-through approach, permitting tokenisation of authorised investment products if the underlying product satisfies all applicable authorisation requirements and additional safeguards are in place to address the new risks associated with tokenisation arrangements.

United States: SEC Publishes Its 2024 Exam Priorities—Early

Oct 23 2023

By: Jennifer Klass and Wiley Cole

On 16 October 2023, the Division of Examinations (the Division) of the US Securities and Exchange Commission (SEC) released its examination priorities for the 2024 fiscal year. In an interesting twist, the SEC released the examination priorities early, changing the timing to correspond to the beginning of its new fiscal year.

Australia: Treasury Releases Token Mapping Consultation Paper

Feb 16 2023

By Daniel Knight and Oliver Herrmann

New licensing requirements for crypto service providers are coming, following a series of consultations launched last week by Treasurer, Jim Chalmers. The Government approach focuses on strengthening enforcement, bolstering consumer protection and ultimately establishing a new licensing framework.

United States: SEC vs. Wahi: An Insider Trading Action with Surprising Impacts on the Investment Management Industry

Aug 02 2022

By: Richard F. Kerr and Keri E. Riemer

The SEC has made a new crypto move – and its impact is broad.

As described in our FinTech Law Watch blog published on 29 July 2022, the SEC recently declared that 9 crypto assets were “securities” in a complaint relating to insider trading violations (Wahi Complaint).

United States: Grayscale Appeals to DC Circuit on SEC Denial of Bitcoin ETP

Jul 05 2022

By: Stacy L. Fuller, Clifford C. Histed, Cheryl L. Isaac, Richard F. Kerr, Keri E. Riemer, and Peter J. Shea

On Thursday, Grayscale Investments, LLC (Grayscale) filed suit against the Securities Exchange Commission (SEC) in the D.C. Circuit asking the court to reconsider the agency’s rejection of listing a spot Bitcoin ETP on the New York Stock Exchange (NYSE). In its appeal, Grayscale argued that the SEC’s ruling regarding its spot Bitcoin ETP was “arbitrary and capricious,” because it disregarded facts about the ETP and erroneously determined that listing the ETP would be in contravention of NYSE’s duties under the Securities Exchange Act of 1934.

Tag:digital assets