Important Announcement
We are pleased to share that as of August 1, 2025, Braeden Anderson, the founder of Anderson P.C., has joined Gesmer Updegrove LLP as a Partner. Work currently performed by Anderson P.C. will be transitioning to Gesmer. This website will remain active as a curated archive for legal insights.
Gesmer Updegrove LLP, founded in 1986, is a nationally recognized law firm with a premier reputation for representing high-growth companies, innovative technology pioneers, and venture-backed startups. Together, we are enhancing our ability to provide comprehensive, end-to-end legal support to entrepreneurs, founders, investors, and scaling businesses across every stage of the corporate lifecycle. From formation, fundraising, and IP strategy to tax planning, M&A, securities compliance, enforcement defense, and strategic exits, our combined strengths now span the full spectrum of business law.
Thank you for following and supporting us on this journey. To learn more or to connect with Braeden or a member of the Gesmer team, please visit: www.gesmer.com or e-mail him at braeden.anderson@gesmer.com
FOIA Docs Show NY AG Wanted ETH Declared a Security
In a striking revelation from documents obtained through Coinbase’s Freedom of Information Act (FOIA) efforts, the New York Attorney General’s Office asked the Securities and Exchange Commission (SEC) in 2023 to declare Ether (ETH) a security in support of its lawsuit against crypto exchange KuCoin. The request, made during the tenure of former SEC Chair Gary Gensler, was ultimately declined.
Coinbase CEO Calls for Accountability from Future SEC Chair Over Crypto Regulation Missteps
In a bold statement on October 29, Coinbase CEO Brian Armstrong voiced his frustrations with the Securities and Exchange Commission's (SEC) handling of crypto regulation, stating that the agency's next chair should issue a public apology for what he described as "damage" to the American crypto sector. Armstrong highlighted years of inconsistent statements and actions from the SEC, which he argues have harmed innovation, created regulatory confusion, and discouraged crypto businesses from operating in the U.S.
Gensler Reaffirms SEC's Regulation-By-Enforcement Approach to Crypto Amidst Industry Debate
Securities and Exchange Commission (SEC) Chair Gary Gensler has once again reiterated his commitment to the agency's ongoing regulation-by-enforcement strategy concerning cryptocurrency. Despite criticism from various sectors of the digital asset industry, Gensler maintains that the SEC’s efforts are firmly grounded in decades of legal precedent, and he intends to continue this approach to provide clarity and protection in the rapidly evolving world of digital assets.
SEC Chair Gary Gensler on Crypto: ‘It’s Unlikely This Stuff Is Gonna Be a Currency’
In a recent speech at New York University School of Law, U.S. Securities and Exchange Commission (SEC) Chairman Gary Gensler made headlines with his assertion that cryptocurrencies like Bitcoin (BTC) are unlikely to ever become widely accepted forms of currency. While this statement may have grabbed attention, it largely reiterates what many industry participants already understand: the primary value of crypto assets lies in their utility as a store of value or an investment vehicle, not as a replacement for fiat currencies. Gensler’s comments, while perhaps technically accurate, miss the mark in addressing the real issues facing the crypto industry today.
Advancing Financial Data Transparency: New Joint Standards Proposed by Financial Regulators
On August 2, 2024, Chair Gary Gensler announced a groundbreaking proposal aimed at enhancing the transparency and accessibility of financial data. This proposal, born from the Financial Data Transparency Act of 2022 (FDTA), represents a significant step toward standardizing financial data reporting across multiple regulatory agencies. The initiative involves nine financial regulators and is poised to streamline data collection and improve oversight efficiency.