The US Supreme Court has long been skeptical of novel proposals by federal agencies to address issues of vast economic and political significance. In West Virginia v. EPA, the Court made clear that its past cases reviewing novel applications and interpretations of agency powers do constitute an identifiable “doctrine” for application by courts going forward. When an administrative agency makes a “major policy decision,” it must have “clear congressional authorization” to do so. This case may represent one of the Supreme Court’s most significant administrative law decisions since Chevron U.S.A. Inc. v. Natural Resources Defense Council in 1984.
Governments and regulators have struggled to keep pace as new digital asset classes and other blockchain applications have risen to prominence. This regulatory uncertainty has caused confusion in the markets and impeded greater adoption of distributed ledger technologies in the United States. However, on June 7, 2022, US Senators Kirsten Gillibrand (D-NY) and Cynthia Lummis (R-WY) introduced the Responsible Financial Innovation Act (RFIA), the first major piece of US federal legislation to provide a reasonably comprehensive regulatory framework for digital assets. This article discusses the most significant provisions of the RFIA.
In response to Russia invasion of Ukraine, the United States and dozens of its allies and partners around the globe have imposed what the White House has called, "the most impactful, coordinated, and wide-ranging economic restrictions in history." This article (1) provides an overview of OFAC sanctions jurisdiction and circumvention prohibitions, (2) summarizes recent Russia sanctions, (3) provides a synopsis re sanctions evasion through cryptocurrency, (4) highlights existing US regulatory guidance regarding sanctions evasion through cryptocurrencies, and (5) recommends measures that persons and companies may wish to consider to mitigate the risk of sanctions violations.
Read a short recap of key ESG developments in 2022 in Europe, the United States, Canada, Japan, Germany, Norway, and The Netherlands.
In this multi-country guide, learn about the rules on approaching investors in different jurisdictions, in relation to an offer or issue of shares.
Learn about the potential introduction of a digital Euro.
Learn corporate governance trends for public companies in the United Kingdom, following the publication of the annual review from the UK Financial Reporting Council (FRC) in light of the UK Corporate Governance (UKCG) Code.
Learn about the Digital Markets Act that came into force on 1 November 2022 in the European Union, targeting unfair practices in the online platform economy.
Learn about Nigeria's legal treatment of employees who resign in anticipation of disciplinary proceedings.
Learn about risks in China for app operators when implementing third-party services and products.