In the week following the meltdown of the UST token, subsequent to its inability to protect its $1.00 peg, much commentary has been offered in connection with the meaning of that fiasco. Prominent within that commentary are loud and strident calls for more regulation, not only of stablecoins in general but across the entire digital asset industry. But the factual basis for extensive and compulsory industry-wide regulation is not supported by the events leading up to and underpinning the UST failure, and the most effective and fast-acting remedies will be voluntary adoption of new risk tools and disclosure standards by the industry.

The SEC has announced fraud charges stemming from unregistered offerings and sales of investment plans called mining packages, which promised investors signficant returns. 

McGonigle, P.C. has been awarded Mansfield Rule Certification after completing a rigorous 18-month collaboration with Diversity Lab.

The SEC announces an additional 20 positions dedicated to the unit responsible for bringing enforcement actions related to crypto markets and cyber-related threats. 

On April 27, 2022 the Acting Comptroller of the Currency, Michael Hsu issued a statement suggesting that the government should work together with the cryptocurrency industry and academics to develop uniform standards for stablecoins.

IOSCO, an international association of securities regulators which and includes the SEC and CFTC in its membership, just issued a Report about DeFi which may impact future legislation and regulation

The U.S. District Court in San Francisco denied a motion to dismiss charges filed by the Securities and Exchange Commission under an expansive new theory of insider trading liability. In a matter of first impression, the court ruled in SEC v. Panuwat[1] that a defendant with material nonpublic information ("MNPI") about an issuer may incur insider trading liability by trading in the securities of a different and unrelated issuer that could possibly be affected by public announcement of the first issuer’s MNPI.