On May 5, 2023, New York Attorney General Letitia James released proposed legislation that seeks to regulate all facets of the cryptocurrency industry. Entitled the “Crypto Regulation, Protection, Transparency, and Oversight (CRPTO) Act,” if enacted the draft bill would substantially expand New York’s oversight of crypto enterprises conducting business in the Empire State.
Continue Reading New York Attorney General Proposes Sweeping Crypto Legislation

The US Bureau of Economic Analysis has announced that it is conducting a survey of all US businesses whose voting interests are 10% or more owned, directly or indirectly, by a foreign person. 
Continue Reading US Bureau of Economic Analysis Conducts Survey of US Businesses Having Foreign Ownership of Voting Interests of 10% or More

The US Department of Justice made several recent announcements expanding on its expectations for corporate compliance programs and unveiling new guidance on executive compensation structures, consequence management and business communications and ephemeral messaging.
Continue Reading DOJ Announcements on Corporate Compliance Programs, Compensation Clawbacks and National Security

Hunton Andrews Kurth LLP continues to assist clients and monitor developments in the financial markets arising from the liquidity challenges and market volatility currently facing the banking industry. Late Tuesday brought the first inevitable wave of lawsuits and government investigations. There will be many more in the days ahead.
Continue Reading Bank Turmoil Brings Increased Risk of Litigation and Investigations

In its ongoing efforts to stabilize the banking system, the Federal Reserve announced the creation of the new Bank Term Fund Program (“BTFP”). The Federal Reserve established the BTFP to make available additional funding to eligible depository institutions in order to help ensure that banks have the ability to meet the needs of all their depositors.
Continue Reading Bank Term Funding Program: Understanding Borrowing from the Federal Reserve Bank

On February 8, 2023, a jury in the Southern District of New York reached a verdict finding Mason Rothschild liable for trademark infringement of the Hermes BIRKIN mark when Rothschild advertised and sold a series of “MetaBirkin” non-fungible tokens. The verdict required Mr. Rothschild pay $110,000 for trademark infringement and dilution, as well as $23,000 for cybersquatting on the MetaBirkins domain name.
Continue Reading First Ever Trial On NFT Trademark Infringement Finds Against The NFT Creator