CTBL Blog

Beyond Enforcement: The SEC’s Shifting Playbook on Crypto Regulation

May 9, 2025 by Akshay S. Ralhi Capital Markets Cryptocurrencies

The U.S. Securities and Exchange Commission (SEC) plays a critical role in shaping the regulatory landscape for cryptocurrencies, balancing the need to protect investors with the potential for technological innovation. The transition from the Biden administration’s enforcement-heavy approach under Chair Gary Gensler to the Trump administration’s innovation-driven strategy under Chair Paul Atkins marks a significant shift in priorities. This article examines the SEC’s evolving stance, focusing on cryptocurrency’s legal status, the Howey Test’s application, and the impact of President Trump’s crypto executive order.

Akshay S. Ralhi - CTBL Fellow

Are Investments in Cryptocurrencies Protected under the BIT regime?

March 25, 2022 by Abhik Chakraborty and Rishi Ray Cryptocurrencies

In the last decade, there has been a rapid increase in the global development of cryptocurrencies, which has challenged the monetary sovereignty of central banks around the world. This has led to regulatory sanctions against crypto-mining and the use of cryptocurrencies in various jurisdictions. Given that the crypto markets are at the mercy of the state’s regulators, through this post, we analyze whether investments in cryptocurrencies would be protected under the international investment arbitration framework.