The Bulletin described Bitcoin as a “digital asset, or an asset that relies on blockchain technology” and a Bitcoin futures contract as a “standardized agreement to buy or sell a specific quantity of Bitcoin at a specified price on a particular date in the future.” Bitcoin is viewed by the SEC and the CFTC as […]
Even though closed-end funds are not subject to the same liquidity risks from the bitcoin futures market as mutual funds or ETFs, the Statement nevertheless recommends that sponsors of closed-end funds consult the staff prior to filing for a closed-end fund that would invest in bitcoin futures. In January 2018, Dalia Blass, the then-director of […]
On May 11, the Securities Exchange Commission’s strongly encouraging any investor interested in investing in mutual funds exposed to the Bitcoin futures market to carefully consider the risks involved with such investments. The Statement also summarized IM staff’s prior guidance from its Engaging on Fund Innovation and Cryptocurrency Related Holdings Letter from January 2018 , […]
In February a bill to legalize, regulate, and tax non-smokable medicinal cannabis passed through the Alabama Senate on a 21-10 vote. Earlier that day, the bill easily cleared two House procedural votes by a vote of 69-31 and 71-20, to allow the bill to be brought to the House floor for a final vote. This […]
Carolyn Jackson is a partner in Katten Muchin Rosenman UK LLP and is a Registered Foreign Lawyer. Nathaniel Lalone, a partner at Katten Muchin Rosenman UK LLP, has a broad range of experience in the regulation of financial products and financial markets, and frequently provides regulatory and compliance advice to trading venues, clearing houses and […]
On March 31, 2021, New York Governor Andrew Cuomo signed the Marihuana Regulation and Taxation Act into law, making New York the latest state to legalize recreational marijuana. Now, employers may not take adverse action against an employee because of their legal use of marijuana prior to the beginning or after the conclusion of the employee’s […]