Digital-asset regulation for RIAs
Each entry names the authority that acted, what changed, whom it affects, the date, and what an advisor must do next.
CFTC staff lets FCMs accept specified digital assets as margin, with conditions
CFTC staff gave a conditional no-action position to FCMs that accept specified payment stablecoins and other non-security digital assets as margin collateral.
SEC staff separates issuer-sponsored, custodial and synthetic tokenized securities
Three SEC divisions published a joint staff taxonomy.
California fines Nexo $500,000 over unlicensed crypto-backed lending
A DFPI consent order requires Nexo Capital to pay a $500,000 administrative penalty.
SEC proposes higher size thresholds for small advisers and investment companies
The SEC proposed raising the asset thresholds that define a small investment adviser or investment company for Regulatory Flexibility Act analysis.
NFA adds filings for FCMs that accept digital assets as margin
NFA announced new filing obligations for futures commission merchants that accept non-security digital assets as margin collateral.
FDIC proposes approval steps for bank subsidiaries that issue stablecoins
The FDIC proposed application and approval procedures under the GENIUS Act for FDIC-supervised banks and savings associations that seek to issue payment stablecoins through subsidiaries.
SEC staff sets conditions for broker-dealers to hold crypto-asset securities
On Dec. 17, 2025, the SEC Division of Trading and Markets issued a Statement on the Custody of Crypto Asset Securities by Broker-Dealers.
OFAC settles sanctions violations with Exodus Movement
On Dec. 16, 2025, OFAC announced a settlement with Exodus Movement over apparent sanctions violations connected with its digital-asset products and services.
CFTC withdraws its guidance on retail digital-asset commodity transactions
On Dec. 16, 2025, the CFTC withdrew its 2020 interpretive guidance on actual delivery in retail commodity transactions involving certain digital assets.
FSOC’s 2025 annual report sets digital-finance monitoring priorities
FSOC’s annual report recommended monitoring GENIUS Act implementation and its effects on the Treasury market.
SEC staff grants conditional no-action relief for a DTC tokenization pilot
SEC Trading and Markets staff gave conditional no-action relief that lets DTC build and launch a limited, voluntary tokenization service for eligible security entitlements held by DTC participants.
FinCEN fines Paxful for willful Bank Secrecy Act failures
FinCEN assessed a $3.5 million penalty against Paxful.
FINRA’s 2026 oversight report updates crypto supervision and communications findings
On Dec. 9, 2025, FINRA published its 2026 Annual Regulatory Oversight Report.
CFTC announces listed spot crypto trading on federally regulated exchanges
CFTC leadership announced the launch of listed spot crypto products on U.S. designated contract markets under the agency’s crypto initiative.
OCC lets banks hold small amounts of crypto to pay network fees and test platforms
The OCC confirmed that national banks may hold limited amounts of crypto assets on their balance sheets.
SEC Chairman previews a token taxonomy based on Howey under Project Crypto
SEC Chairman Atkins outlined the token taxonomy he intends to pursue.
Federal Reserve Governor Miran discusses stablecoins and monetary policy
On Nov. 7, 2025, Federal Reserve Governor Stephen Miran discussed in a speech how stablecoin growth could affect demand for dollars, Treasury markets, banking and the transmission of monetary policy.
Tenth Circuit upholds the Federal Reserve’s power to deny Custodia a master account
A divided Tenth Circuit affirmed the judgment against Custodia Bank, a crypto-focused bank.
Federal Reserve Governor Barr speaks on stablecoin risks and implementation
Federal Reserve Governor Michael Barr named policy and implementation issues for payment stablecoins: runs, reserves, redemption, interoperability, and effects on banking and payments.
NFA broadens Compliance Rule 2-51 and repeals its earlier virtual-currency interpretive notice
On Oct. 1, 2025, NFA submitted a rule change that amends Compliance Rule 2-51 and repeals Interpretive Notice 9073, its older notice on virtual currency.
NYDFS updates its guidance on virtual-currency custody and insolvency
NYDFS replaced its 2023 custody guidance with more specific requirements.
SEC staff lets advisers and funds use state trust companies as crypto custodians, with conditions
SEC Investment Management staff gave conditional no-action relief to registered advisers and regulated funds.
OFAC settles sanctions violations with ShapeShift for $750,000
OFAC announced a $750,000 settlement with ShapeShift for apparent sanctions violations involving its digital-asset exchange services.
NYDFS extends blockchain-analytics guidance to banking organizations
NYDFS told the banking organizations it regulates that engage in or are exposed to virtual-currency activity to consider blockchain analytics.
SEC and CFTC staff say registered exchanges may list certain spot crypto products
On Sept. 2, 2025, SEC and CFTC staff issued a joint statement on trading of certain spot crypto asset products.
Status labels
Each entry carries a status: a binding action, a proposal, guidance, enforcement, or a political signal. A speech or a bill changes no obligation until a rule or a law follows. Every entry starts from the primary document and lists what is still unsettled.
Coverage and corrections
This page follows the U.S. authorities that matter to registered investment advisers, plus state actions of national weight. A published version never changes. A correction or a changed reading creates a new version at the same address, and every earlier version stays in the JSON file.
Educational analysis for financial professionals. Not legal, tax, compliance, or investment advice. Verify current primary sources and consult qualified counsel before implementation.