Insights

New York – June 22, 2022: Crowell & Moring has launched Crypto Digest, a new blog focused on educating readers on the legal issues and the financial and operational risks relating to investing in and trading digital assets. The Crypto Digest provides investors with important guidance on the digital asset eco-system as they face increased regulatory oversight from the Financial Crimes Enforcement Network, the Securities and Exchange Commission and the Commodities and Futures Trading Commission.

New York – March 4, 2022: Crowell & Moring’s Jennifer K. Grady, Richard J. Lee, and John A. Clark have authored a chapter in the recently published second edition of The Handbook of Loan Syndications and Trading. According to the book’s publisher, the Loan Syndications and Trading Association, “The Handbook covers all aspects of the primary and secondary loan markets, ESG, direct lending, and so much more.”

After nearly 13 years since its original proposal, the U.S. Securities and Exchange Commission (SEC) has adopted Rule 9j-1, a set of anti-fraud and anti-market manipulation prohibitions specifically designed for policing misconduct in security-based swap markets.[1]

In June, the crypto world saw the first signs of concern as cryptocurrency exchange Cred filed for bankruptcy. Since then, Crowell’s Digital Assets and Bankruptcy, Restructuring, and Insolvency teams have worked together counseling parties on their relative rights in these bankruptcy cases as well as assisting buyer and sellers of related claims. The news has only snowballed, and our Crypto Digest Blog has tracked the fast-moving crypto winter. In addition to client questions, our team has been quoted in The Wall Street Journal, Yahoo Finance, MarketWatch, CoinDesk, protocol, and The Journal of Bankruptcy Law.

On March 9, 2022, President Biden issued the long-awaited Executive Order on Ensuring Responsible Development of Digital Assets (the “EO”) expressing a U.S. strategy for the development and regulation of digital assets[1] and a potential U.S. Central Bank Digital Currency[2] (“CBDC”). Possibly accelerated in part by the desire to address potential Russian sanctions evasion,[3] the EO mandates numerous reports by several federal agencies to facilitate policy and legislative development in this area.