legal

Last week in crypto regulation (February 3 - February 9):

1/ Tornado Cash co-founder Roman Storm petitioned the U.S. Supreme Court to block a ruling requiring him to disclose expert witnesses before trial. Meanwhile, Alexey Pertsev was released under electronic monitoring.
https://www.supremecourt.gov/search.aspx?filename=/docket/DocketFiles/html/Public/24A759.html
https://x.com/alex_pertsev/status/1887523522488283488?

Dear Friends, on Friday 7 February at 10 am I will be free! It is not real freedom, but it is better than prison. Today, a Dutch court suspended my pretrial detention under the condition of electronic monitoring. This will give me a chance to work on my appeal and fight for…

Alexey Pertsev

Ask me about law |

Head of web3&crypto practice at Buzko Krasnov law firm

2/ Senator Bill Hagerty introduced the GENIUS Act to regulate stablecoins backed by the U.S. dollar.
https://www.hagerty.senate.gov/wp-content/uploads/2025/02/GENIUS-Act.pdf

3/ SEC Crypto Assets and Cyber Unit Chief Hester Peirce outlined the agency’s crypto regulatory priorities.

2/ Senator Bill Hagerty introduced the GENIUS Act to regulate stablecoins backed by the U.S. dollar.
https://www.hagerty.senate.gov/wp-content/uploads/2025/02/GENIUS-Act.pdf

3/ SEC Crypto Assets and Cyber Unit Chief Hester Peirce outlined the agency’s crypto regulatory priorities.
https://www.sec.gov/newsroom/speeches-statements/peirce-journey-begins-020425

4/ A U.S. federal court ordered EmpiresX founders to pay over $130 million for running a fraudulent crypto scheme.
https://www.courtlistener.com/docket/63562147/53/commodity-futures-trading-commission-v-empires-consulting-corp/

5/ FTX Digital Markets will begin creditor repayments up to $50,000 on February 18, 2025.
https://x.com/sunil_trades/status/1886796657259376733?

6/ Burwick Law, which sued pump.fun, reported violent threats against its lawyers and clients.
https://protos.com/scoop-law-firm-suing-pump-fun-faces-violent-threats-and-doxxing/

7/ Acting CFTC Chair Caroline Pham criticized the agency’s past stance on prediction markets.
https://www.cftc.gov/PressRoom/PressReleases/9046-25

8/ The CFTC questioned Crypto.com and Kalshi over Super Bowl betting contracts.
https://www.bloomberg.com/news/articles/2025-02-03/crypto-com-kalshi-s-super-bowl-wagers-probed-by-us-derivatives-regulator

9/ The SEC approved Grayscale’s revised Solana ETF application.
https://www.sec.gov/files/rules/sro/nysearca/2025/34-102372.pdf

10/ A new SEC rule requires political leadership approval for formal investigations.
https://www.reuters.com/world/us/secs-republican-led-commission-tightens-oversight-probes-sources-say-2025-02-02/

11/ Cboe BZX proposed an SEC rule change to allow listing and trading options on Ethereum ETFs.

10/ A new SEC rule requires political leadership approval for formal investigations.
https://www.reuters.com/world/us/secs-republican-led-commission-tightens-oversight-probes-sources-say-2025-02-02/

11/ Cboe BZX proposed an SEC rule change to allow listing and trading options on Ethereum ETFs.
https://cdn.cboe.com/resources/regulation/rule_filings/pending/2025/SR-CboeBZX-2025-018.pdf

12/ David Sacks confirmed the U.S. may establish a national Bitcoin reserve.
https://www.cnbc.com/video/2025/02/04/bringing-people-from-tech-industry-to-washington-is-a-positive-thing-trumps-ai-czar-david-sacks.html

13/ Donald Trump signed an executive order creating a sovereign wealth fund.

12/ David Sacks confirmed the U.S. may establish a national Bitcoin reserve.
https://www.cnbc.com/video/2025/02/04/bringing-people-from-tech-industry-to-washington-is-a-positive-thing-trumps-ai-czar-david-sacks.html

13/ Donald Trump signed an executive order creating a sovereign wealth fund.
https://www.whitehouse.gov/fact-sheets/2025/02/fact-sheet-president-donald-j-trump-orders-plan-for-a-united-states-sovereign-wealth-fund/

14/ Florida proposed a bill to invest up to 10% of state funds in Bitcoin.
https://flsenate.gov/Session/Bill/2025/550/BillText/Filed/PDF

15/ New Mexico introduced a bill to allocate 5% of its state fund into Bitcoin.
https://x.com/ThorntonforNM/status/1887346152833753456?

16/ Kraken secured an EU MiFID license via a Cyprus firm acquisition, allowing it to operate across European financial markets.
https://blog.kraken.com/news/eu-mifid-license