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8 articles
July 1, 2026
Whether an AI agent needs a financial license does not turn on the fact that it is AI. It turns on what the agent does with money or securities — and more than one regime can apply at once. An agent that executes securities trades answers to the SEC; one that trades futures, swaps, or leveraged retail crypto answers to the CFTC; one that moves customer money answers to FinCEN and the states. This is the decision guide that routes your agent to the right regulator — often more than one.
Read More →Client GuideJuly 1, 2026
When an AI agent executes trades for other people, the 1934 Act asks one thing: for whose account? An agent that effects transactions for someone else's account is a broker and generally must register; one that trades its own account may be an exempt 'trader,' and one that matches other users' orders can become an exchange. Autonomy does not change which hat you wear.
Read More →Client GuideJuly 1, 2026
When an AI agent recommends securities to clients for a fee, the Investment Advisers Act asks one thing: what is the advice, not who — or what — delivers it. An autonomous agent that gives personalized investment advice for compensation is judged by the same three-part test as a human adviser, and no line of code creates an exemption.
Read More →Legal UpdateJune 22, 2026
The SEC closed major NFT investigations into OpenSea and Yuga Labs in early 2025, marking a dramatic shift from its aggressive 2022-2024 enforcement strategy. Here's what changed, what it means for NFT creators and marketplaces, and how to structure compliant NFT projects going forward.
Read More →Legal UpdateJune 22, 2026
The March 2026 SEC/CFTC joint release established five token categories. Which one applies determines your regulator, registration obligations, and compliance path.
Read More →Legal UpdateJune 14, 2026
The CLARITY Act --- H.R. 3633, the Digital Asset Market Clarity Act of 2025 --- passed the House and is now before the Senate. It would give the CFTC authority over digital commodities, including spot markets, and turn on a "mature blockchain" test rather than a named Bitcoin/Ether carve-out. Here is what the actual bill says, and what it does not.
Read More →Legal UpdateJune 14, 2026
The SEC dismissed its biggest crypto cases with prejudice, issued staff guidance, and adopted an interpretive token framework. For founders, the question shifted from "will the SEC sue me?" to "what does the new framework require --- and how much of it actually binds?"
Read More →Thought LeadershipMay 10, 2026
Atkins announced a three-part Innovation Exemption framework on March 17, 2026; OIRA has had it since April 6, 2026. The founder-grade decision tree – and the Loper Bright vulnerability the trade press is missing – before the NPRM publishes.
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