L-R: Austin Pollet, Meredith Dearborn, and Kristina Bunting of Paul, Weiss, Rifkind, Wharton & Garrison. Courtesy photos End of the 'Wild West?' The Future of Crypto Regulation and Enforcement
As crypto grows in popularity, federal and state enforcement agencies are trying to apply existing legal regimes to this new space, while lawmakers are drafting and proposing new legislation, according to Paul Weiss' Meredith Dearborn, Austin Pollet and Kristina Bunting.
October 04, 2022 at 05:00 AM
7 minute read
Technology Media and Telecom
Once on the fringe of the global financial system, cryptocurrency has entered the mainstream: Nearly 1 in 5 American adults has purchased cryptocurrency. As crypto grows in popularity, federal and state enforcement agencies are trying to apply existing legal regimes to this new space, while lawmakers are drafting and proposing new legislation. Regulatory interest has been sharpened by recent market downturns, including a widespread depreciation of crypto assets in May 2022, which wiped out nearly $2 trillion in value. Below, we offer a primer for market participants on how to understand crypto in the context of current legal frameworks and potential future regulation.
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