U.S. Securities and Exchange Commission building. Photo: Diego M. Radzinschi/ALM'Not Last Week’s SEC': Regulatory Agency Creates Crypto Task Force
"Lawyers have been hoping for clear regulatory lines and it sounds like they may be on the path to getting it,” said David A. Shargel, a partner at Bracewell who frequently litigates against the U.S. Securities and Exchange Commission.
January 21, 2025 at 03:53 PM
3 minute read
The original version of this story was published on National Law Journal
What You Need to Know
- The SEC's acting chairman launched a crypto task force to develop a regulatory framework for digital assets.
- SEC Commissioner Hester Peirce was tapped to lead the task force.
- An expert said that the creation of the task force could represent a shift in U.S. crypto policy, particularly as it relates to whether a token is classified as a security.
Mark Uyeda, the U.S. Securities and Exchange Commission acting chairman, launched a cryptocurrency task force dedicated to developing a comprehensive and clear regulatory framework for digital assets on Tuesday.
In doing so, Uyeda tapped Commissioner Hester Peirce to lead the task force, which will collaborate with SEC staff and the public to set the agency on a “sensible regulatory path that respects the bounds of the law.”
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J. Brugh Lower of Gibbons has entered an appearance for industrial equipment supplier Devco Corporation in a pending trademark infringement lawsuit. The suit, accusing the defendant of selling knock-off Graco products, was filed Dec. 18 in New Jersey District Court by Rivkin Radler on behalf of Graco Inc. and Graco Minnesota. The case, assigned to U.S. District Judge Zahid N. Quraishi, is 3:24-cv-11294, Graco Inc. et al v. Devco Corporation.
Who Got The Work
Rebecca Maller-Stein and Kent A. Yalowitz of Arnold & Porter Kaye Scholer have entered their appearances for Hanaco Venture Capital and its executives, Lior Prosor and David Frankel, in a pending securities lawsuit. The action, filed on Dec. 24 in New York Southern District Court by Zell, Aron & Co. on behalf of Goldeneye Advisors, accuses the defendants of negligently and fraudulently managing the plaintiff's $1 million investment. The case, assigned to U.S. District Judge Vernon S. Broderick, is 1:24-cv-09918, Goldeneye Advisors, LLC v. Hanaco Venture Capital, Ltd. et al.
Who Got The Work
Attorneys from A&O Shearman has stepped in as defense counsel for Toronto-Dominion Bank and other defendants in a pending securities class action. The suit, filed Dec. 11 in New York Southern District Court by Bleichmar Fonti & Auld, accuses the defendants of concealing the bank's 'pervasive' deficiencies in regards to its compliance with the Bank Secrecy Act and the quality of its anti-money laundering controls. The case, assigned to U.S. District Judge Arun Subramanian, is 1:24-cv-09445, Gonzalez v. The Toronto-Dominion Bank et al.
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