On Jan. 25, 2024, the Hawaii Department of Commerce and Consumer Affairs Division of Financial Institutions (DFI) and the Hawaii Technology Development Corporation (collectively, the “Agencies”) jointly issued a press

Continue Reading Hawaii’s Money Transmitters Modernization Act Will No Longer Apply to Cryptocurrency Activities

U.S. Sen. Cynthia Lummis (R-WY) and Reps. Wiley Nickel (D-NC) and Mike Flood (R-NE) are working to overturn a controversial Securities and Exchange Commission (SEC) staff accounting bulletin, SAB 121

Continue Reading Lawmakers Introduce Resolution to Nullify SEC’s Crypto Accounting Bulletin

Digital assets are an increasingly important part of modern society. That was the conclusion the UK Law Commission reached in its final report on digital assets that was published recently

Continue Reading UK Court Grapples with Cryptocurrency Preservation and Enforcement Issues

On Feb. 23, 2023, the Board of Governors of the Federal Reserve System (Federal Reserve), Federal Deposit Insurance Corporation (FDIC), and Office of the Comptroller of the Currency (OCC) (collectively

Continue Reading Federal Reserve, FDIC, and OCC Issue 2nd Joint Statement Highlighting Liquidity Risks to Banks Engaged in Crypto-Asset-Related Activities

On Jan. 3, 2023, the Board of Governors of the Federal Reserve System (Federal Reserve), Federal Deposit Insurance Corporation (FDIC), and Office of the Comptroller of the Currency (OCC) (collectively

Continue Reading Federal Reserve, FDIC, and OCC Issue the First Joint Statement on Crypto-Asset Risks to Banking Organizations

A proposed new Article 12 of the UCC provides rules for transactions involving certain new types of digital assets, including cryptocurrency and non-fungible tokens. Under the proposed new Article 12

Continue Reading Proposed UCC Amendments to Article 12 Shed New Light on Transacting and Securing Interests in Digital Assets

Are customers’ digital assets held by exchange platforms in so-called “Custodial” and “Withhold” accounts property of the bankruptcy estate? This may be coined the golden question in the recent crypto

Continue Reading Celsius Bankruptcy Court Tees Up Tentative Briefing Schedule to Hear Issue of First Impression: Are Keys and Digital Assets Property of the Estate?