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On August 19, 2022, the FDIC issued cease and desist letters to five crypto companies, alleging they made false and misleading statements about FDIC deposit insurance and demanding immediate corrective action.
On July 29, 2022, the Federal Deposit Insurance Corporation (FDIC) issued an advisory and fact sheet, (collectively, the “FDIC Crypto Guidance”) to address concerns regarding consumer confusion arising from crypto assets offered by, through, or in connection with insured banks.
On Aug. 15, 2022, a federal court in the Central District of California authorized the Internal Revenue Service (IRS) to serve a John Doe summons on OX Labs Inc. d/b/a SFOX and its subsidiaries (collectively, SFOX).
We’ve previously written about the rise in NFT litigation in the United States. Not surprisingly, the global interest in this new genre of cryptographic assets has occasioned an inevitable increase in disputes involving NFTs in other parts of the world.
The New York Department of Financial Services (“NYDFS”) made clear last week that crypto companies can be held accountable for allegedly failing to comply with anti-money laundering (“AML”) / Bank Secrecy Act (“BSA”) regulations.
U.S. Senators Debbie Stabenow (D-Mich.) and John Boozman (R-Ark.) of the Senate Agricultural Committee have formally proposed a new bill to regulate the digital asset market
On July 21, 2022, the US Securities and Exchange Commission (SEC) filed a civil enforcement action alleging that from at least June 2021 to April 2022, the three named defendants orchestrated and perpetrated an insider trading scheme amassing over $1.1 million in illicit gains from crypto asset trading.
The hype surrounding NFTs appears to be gradually cooling down amid the slowdown in NFT markets and the recent crypto price dip.
On July 20, 2022, the Connecticut Department of Banking (the “Department”) issued a Consumer and Industry Advisory on Money Transmission (the “Advisory”).
On July 21, the U.S. Attorney’s Office for the Southern District of New York and the Securities and Exchange Commission (SEC) announced insider trading allegations against three defendants related to the trading of crypto assets, in what U.S. Attorney Damian Williams heralded as the “first ever insider trading case involving cryptocurrency markets.”
In September 2021, Quebec’s Parliament enacted Law 25 (formerly Bill 64) (the “Law”), which updated Quebec’s data protection laws and added requirements for enterprises that do business within the province.
Affirming an en banc decision of the U.S. Court of Appeals for the Fifth Circuit, the U.S. Supreme Court has held that an employer’s day-rate pay structure did not satisfy the “salary basis” component of the “white collar” executive exemption under the Fair Labor Standards Act (FLSA), even though the employee at issue earned more than $200,000 per year and unquestionably met the salary-level and duties requirements of that exemption.
The Biden administration has announced its intention to end the COVID-19 National Emergency (NE) and the COVID-19 Public Health Emergency (PHE) on May 11, 2023 (read our series introduction for more information).
On January 30, 2023, the Biden administration announced its intention to make final extensions of both the COVID-19 National Emergency (NE) and the COVID-19 Public Health Emergency (PHE) through May 11, 2023, at which point both will end.
California’s youngest tax agency, the Office of Tax Appeals (OTA), may be in for some significant changes based on proposed amendments (Proposed Amendments) to Title 18, Chapter 4.1 of the California Code of Regulations, which were issued by the OTA February 2023.
The National Labor Relations Board has returned to its pre-2020 standard restricting certain confidentiality and non-disparagement clauses in departing employees’ severance agreements.
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