Jeffrey Alberts

February 29, 2024 | New York Law Journal

The CFPB adopted a new intra-agency appeals process on Feb. 22, 2024. While the CFPB described its new rules as resulting from its review of revisions that other regulators have made to their intra-agency appeals processes over the past decade, the rules are most noteworthy for how they deny rights that other regulators of financial institutions provide.

By Jeffrey Alberts

7 minute read

September 11, 2023 | New York Law Journal

This article highlights the recent SEC decision regarding NFT enforcement and discusses how, by treating NFTs as securities, it appears to be taking a legal position that could sweep a variety of products that never have been viewed as securities.

By Jeffrey Alberts

7 minute read

August 03, 2023 | New York Law Journal

On July 13, a federal judge in the Southern District of New York ruled that the analytical approach to cryptocurrency tokens advanced by SEC Chair Gary Gensler and the SEC staff was incorrect. Not only is it not clear that most cryptocurrency tokens are securities, the court concluded that no cryptocurrency tokens are securities.

By Jeffrey Alberts

8 minute read

March 29, 2023 | New York Law Journal

This article asks the question "Is it in the interest of New Yorkers for the New York AG to aggressively litigate against foreign companies for violating New York state registration requirements?"

By Jeffrey Alberts

7 minute read

December 28, 2022 | New York Law Journal

The CFPB closed out 2022 with a deceptively innocuous-sounding proposal to require nonbank financial companies to report certain public orders and judgments relating to consumer protection violations. However, it is clear that this proposal is a powerful one-way ratchet the CFPB can use to expand regulatory control over fintechs and other nonbank financial companies.

By Jeffrey Alberts

7 minute read

September 28, 2022 | New York Law Journal

OFAC is now facing a lawsuit funded by the largest blockchain exchange in the United States relating to sanctions on a blockchain protocol known as "Tornado Cash." The future of blockchain technology could depend on the outcome of that lawsuit and on how OFAC's decides to exercise its power to impose sanctions on blockchain programs and assets.

By Jeffrey Alberts

8 minute read

June 29, 2022 | New York Law Journal

The Consumer Financial Protection Bureau announced this April that it intends to begin using a "dormant" authority to conduct regulatory examinations of nonbank financial companies when they pose risks to consumers.

By Jeffrey Alberts and Dustin N. Nofziger

8 minute read

March 30, 2022 | New York Law Journal

U.S. holders of cryptocurrency have been eager to participate in the crypto lending market, but recent actions by the SEC are causing unexpected, and likely unintended, changes in how these loans are made. In fact, the SEC's actions may well reduce the amount of lending done through products registered with the SEC and increase the amount of lending on platforms that are not operated by licensed U.S. companies.

By Jeffrey Alberts

8 minute read

January 07, 2020 | New York Law Journal

Over the past few years, investor money has been flooding into cryptocurrency transmission businesses. Entrepreneurs and investors have been moving quickly to capture market share in this potentially massive market. However, it looks like some of those businesses have moved a little too quickly.

By Jeffrey Alberts and Dustin N. Nofziger

8 minute read

June 12, 2017 | New York Law Journal

Jeffrey Alberts and Dustin Nofziger write: Attorneys who do not work in the banking space are often shocked to learn that federal banking regulators use regulations governing confidential supervisory information to prevent banks and their officers and directors from consulting with outside counsel and to monitor that communication when it occurs. While it is not possible to prevent regulators' interference with the attorney-client relationship, it is critical for any attorney representing financial institutions to understand what options are available to minimize it.

By Jeffrey Alberts and Dustin Nofziger

8 minute read