Summary of CFTC Chairman’s Testimony to Senate on FTX

While all my friends were in Miami for the Web3 Summit and Miami Art Basel, I was stuck in dreary St. Louis watching the Senate Ag. Committee’s hearing “Why Congress Needs to Act: Lessons Learned from the FTX Collapse.” The only witness to the hearing was Rostin Behnam, who is the current Chairman of the CFTC.Continue reading “Summary of CFTC Chairman’s Testimony to Senate on FTX”

Wakanda Test for Digital Asset Classifications

With the dueling summary judgment motions filed by Ripple and the SEC in SEC v. Ripple Labs, Inc., et al, Case No. 20-CV-10832 (S.D.N.Y. ), it is time once again to revisit the hot topic of the Howey test and its application to digital assets. There has been lots of talk of what constitutes “sufficientContinue reading “Wakanda Test for Digital Asset Classifications”

Notes from Senate Hearing Regarding Proposed Bill Which Would Give CFTC Oversight on the Digital Asset Commodities Industry

On Thursday, September 15, 2022 the Senate Committee on Agriculture, Nutrition, and Forestry (the “Ag. Committee”) held a hearing to discuss Senate Bill 4760, titled the Digital Commodities Consumer Protection Act of 2022 which was introduced by Sens. Debbie Stabenow (D-MI) and John Boozman (R-AR). Senate Minority Whip John Thune (R-SD) and Sen. Cory BookerContinue reading “Notes from Senate Hearing Regarding Proposed Bill Which Would Give CFTC Oversight on the Digital Asset Commodities Industry”