Neeta Devnani

legal @dydx

[Neeta Devnani @NeetaDevnani]

💙The SEC is racing for industry input! After Mar 21’s “What’s a security?” roundtable, 4 more have been set: Apr 11 (trading), Apr 25 (custody), May 12 (tokenization), Jun 6 (DeFi). https://t.co/HetKdHMHfL

[Neeta Devnani @NeetaDevnani]

🚧The SEC is steadily defining its boundaries! Following its February announcement that meme coins fall outside its jurisdiction, today it clarified that USD stablecoins backed by low-risk, liquid reserves aren’t securities. No position on algorithmic or yield-bearing coins. https://t.co/UlY4OclGTe

[Neeta Devnani @NeetaDevnani]

🏦Last week’s digital asset legal news shows Crypto-TradFi integration is accelerating! FDIC greenlit banks for crypto: custody, stablecoin reserves, issuing assets w/o prior approval, provided risks are managed. Huge pivot from 2022! https://t.co/gLH2nzJOP4

[Neeta Devnani @NeetaDevnani]

Rundown of last week’s regulatory updates:

🔹President Trump at DAS: Urged Congress for stablecoin & market structure legislation

🔹SEC Crypto Task Force: SEC held its first public crypto task force meeting, experts debated the definition of a security.

🔹OCC: revised its supervisory handbook, dropping “reputational risk” from bank onboarding considerations, major win for those debanked because of crypto associations

🔹SEC: considering "options to abandon" the requirement for certain crypto trading companies to register as alternative trading systems

[Neeta Devnani @NeetaDevnani]

It’s a busy time in the world of digital assets! Regulatory updates coming in fast, here is a snapshot of the key developments of the past few days:

Congress
❌ Repealed IRS DeFi reporting rule
✅ Stablecoin bill (Genius Act) passed Senate, heads to House

CFTC
⚖️ Closed 1/3 of open investigations
🤝 Held first Crypto CEO Forum
⛓️ Prediction market roundtable next month

SEC
👀 March 21 roundtable on "what is a security"

White House
💰 announced Strategic Bitcoin Reserve & U.S. Digital Asset Stockpile

OCC
🏦 Reaffirmed crypto activities are OK, rescinded restrictive guidance

[Neeta Devnani @NeetaDevnani]

🚀 Feb 2025 SEC Recap:

🔹Coinbase case dropped with prejudice (no refile, no fines)

🔹Binance truce: 60-day stay, Crypto Task Force could create path to resolve case

🔹Kraken, Gemini, Uniswap, Robinhood, OpenSea, MetaMask, Yuga Labs investigations dropped with no action

🔹 Crypto Task Force formed, held 27 industry meetings

🔹 Meme coins declared NOT securities

#Crypto #SEC

[Nick | Crypto Crusader @NCashOfficial]

Time is our most valuable currency

Money itself is really just a tool for building successful things that allow us to worry less and spend our time doing what we enjoy

The goal in life should never be materialistic things, but instead experiencing life for what it has to offer

[Neeta Devnani @NeetaDevnani]

🔥2025 Crypto Related Actions/Deadlines

[Neeta Devnani @NeetaDevnani]

⚖️SEC has created a new unit to combat fraud in emerging tech areas (e.g. crypto, blockchain and AI). The new unit will "root out those seeking to misuse innovation to harm investors and diminish confidence in new technologies.” https://t.co/ojUuRrbyG4

[Neeta Devnani @NeetaDevnani]

👉Many positive crypto shifts from SEC : (1) a Crypto Task Force has been created that “will help to draw clear regulatory lines, appropriately distinguish securities from non-securities, craft tailored disclosure frameworks, provide realistic paths to registration for both crypto assets and market intermediaries, ensure that investors have the information necessary to make investment decisions, and make sure that enforcement resources are deployed judiciously” ; (2) SEC is scaling back crypto enforcement efforts; and (3) SEC has scrapped SAB 121 (rule that kept banks out of crypto). 😊

https://t.co/PF6FPIlOXI

https://t.co/s7OLZlGV59

[Neeta Devnani @NeetaDevnani]

@paulhsu 💯

[Neeta Devnani @NeetaDevnani]

💙 SEC began a “new journey toward regulatory clarity” this week. The SEC Crypto Task Force wants to “travel to a destination where people have great freedom to experiment and build interesting things”. However, SEC will not “tolerate liars, cheaters, and scammers.” SEC “is working hard to process applications for exemptive relief, requests for no-action letters, and registration statements”. 💙

https://t.co/32ESpKvg3R

[Neeta Devnani @NeetaDevnani]

💡🔮Reminder that there are aggressive 30/60/180 day deadlines 📅 in the EO for digital assets: (1) Feb 22 – agencies must identify existing rules, regulations, guidance, orders, or other relevant items affecting the digital asset sector; (2) March 22 – each agency is to submit recommendations to the Crypto Czar on potential modifications or rescissions of current rules, as well as proposals for new ones; (3) July 22 – a report to the President is due, which will focus on: (i) proposals for a regulatory framework governing the issuance and operation of digital assets (including stablecoins), with a focus on market structure, oversight, consumer protection, and risk management; and (ii) an evaluation of the potential creation and maintenance of a national digital asset stockpile.