BRAEDEN ANDERSON
Welcome to Anderson Insights.
We provide authoritative analysis on securities and commodities regulation, SEC and FINRA enforcement, and legal developments affecting crypto, digital assets, fintech, and financial services, authored by Braeden Anderson.
Please enjoy our legal writings. If you want to talk anything through, send Braeden an email.
Looking for something specific?
The full Anderson Insights archive is now searchable. Use the search bar to find past content by topic, agency, or keyword. Try searching: “SEC v. Jarkesy,” “ATS regulation,” “custody” or “digital assets”
Is Avalanche a Security?
Avalanche sits at the center of the SEC’s evolving crypto framework, and as a securities law nerd, this is the kind of debate I genuinely enjoy. With the agency’s 2026 interpretation recognizing “digital commodities” and Ava Labs advancing a functional, infrastructure-first approach, the analysis is becoming more precise. This piece explores whether AVAX fits within securities law, how the SEC’s latest guidance reshapes the landscape, and where automation, liability, and real-world network activity still leave meaningful open questions.
CFTC Files Actions Against Three States Over Regulation of Prediction Markets
The CFTC did what needed to be done. The tension between federal derivatives law and state gambling regimes around prediction markets has been building for years, with states pushing back through enforcement. This move forces the issue into a federal forum and puts jurisdiction squarely where the Commodity Exchange Act says it belongs. It also reflects the underlying competitive dynamic, as these markets sit directly alongside state-regulated gaming. For participants in the space, this is a meaningful step toward clarity and stability.
Robo-Advisers Under the Advisers Act: A Complete Framework for Building, Registering, and Governing a Digital Investment Adviser
Robo-advisers are not a regulatory shortcut. They are fully regulated investment advisers operating through code. While automation reduces human infrastructure, it embeds fiduciary duties, disclosure obligations, and compliance requirements directly into the platform. For fintech founders and financial institutions, success depends on designing systems that satisfy the Advisers Act at scale.
The $46 Million Crypto Theft Case Against John Daghita Exposes a Government Custody Failure
The DOJ’s indictment of John Dean Daghita for the alleged theft of $46 million in U.S. Marshals Service crypto assets reveals a deeper institutional breakdown: flawed custody design, concentrated authority, and a failure to apply basic financial controls to digital assets.
Why the Definition of “Small Adviser” Deserves a Second Look
The SEC’s definition of a “small investment adviser” hasn’t kept up with reality, and it shows in how rules are written and analyzed. Firms managing $150–300 million in AUM are still treated like large institutions, even though many are lean, founder-led operations navigating real compliance strain. A proposed shift to a $1 billion threshold is a step in the right direction, but without legislative backing, it may not stick. This piece breaks down why the definition matters, how it shapes regulatory outcomes, and what needs to happen next.