ARTICLE
16 May 2022

SEC's Proposed Amendments To Definition Of ‘Exchange': A Potential Game-Changing Impact On Crypto Companies

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A&O Shearman

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A&O Shearman was formed in 2024 via the merger of two historic firms, Allen & Overy and Shearman & Sterling. With nearly 4,000 lawyers globally, we are equally fluent in English law, U.S. law and the laws of the world’s most dynamic markets. This combination creates a new kind of law firm, one built to achieve unparalleled outcomes for our clients on their most complex, multijurisdictional matters – everywhere in the world. A firm that advises at the forefront of the forces changing the current of global business and that is unrivalled in its global strength. Our clients benefit from the collective experience of teams who work with many of the world’s most influential companies and institutions, and have a history of precedent-setting innovations. Together our lawyers advise more than a third of NYSE-listed businesses, a fifth of the NASDAQ and a notable proportion of the London Stock Exchange, the Euronext, Euronext Paris and the Tokyo and Hong Kong Stock Exchanges.
Partners Donna Parisi and Jennifer Morton co-authored an article for Reuters.
United States Technology

Partners Donna Parisi and Jennifer Morton co-authored an article for Reuters on the SEC's proposed amendments to expand the definition of 'exchange' under the U.S. Securities Exchange Act of 1934, to include "communication protocol systems," among other amendments, which could capture certain digital asset platforms, secondary trading platforms, and financial technology providers that do not function as exchanges, as currently defined, within the SEC's jurisdiction.

Read "SEC's Proposed Amendments to Definition of 'Exchange': A Potential Game-Changing Impact on Crypto Companies."

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