Sabal Law Week in Review: October 10–16, 2025
Catch up on this week’s key legal and regulatory updates impacting startups, funds, and emerging tech. @SabalLaw breaks it down:
S&P Global combines 15 crypto assets with 35 blockchain-linked equities in new Digital Markets 50 Index for diversified exposure.
Grayscale adds staking rewards to Ethereum Trust ETF and Ethereum Mini Trust ETF, enabling passive yield for investors.
Morgan Stanley advises up to 4% crypto allocation, emphasizing bitcoin as "digital gold" for opportunistic growth portfolios.
Senate’s Responsible Financial Innovation Act draft redefines investment contracts, potentially limiting state fraud protections.
FinCEN bans U.S. institutions from maintaining accounts for Cambodia’s Huione Group, which laundered billions in illicit funds.
Relatedly, U.S. and U.K. sanction 146 Prince Group targets for scams and laundering, addressing $16 billion in U.S. victim losses from “pig-butchering.”
Also, DOJ indicts Chen Zhi and seeks $15 billion in bitcoin from Prince Group’s forced-labor scam compounds in Cambodia.
Retirement Investment Choice Act introduced by GOP to remove barriers for 401(k) plans to include private equity and digital assets.
NYC Mayor Eric Adams creates Office of Digital Assets and Blockchain to attract crypto talent and promote inclusion.
Sony Bank’s Connectia Trust NA applies for OCC charter to issue USD stablecoins and custody digital assets.
Citibank plans 2026 crypto custody services; JPMorgan launches crypto trading amid rising institutional interest.
Apollo finds stronger private equity buyout opportunities in Europe than U.S. as global stocks and gold prices rise.
Goldman Sachs buys Industry Ventures for $665 million, integrating its $7 billion VC secondaries portfolio.
SEC Chair Paul Atkins criticizes Delaware’s new law banning mandatory arbitration, saying it hinders IPOs.
SEC Chair Paul Atkins expands Wells process, requiring staff to share investigative details and allow four weeks for responses.
Goldman Sachs, Deutsche Bank, and others develop reserve-backed digital money on public blockchains for G7 currencies.
Securitize eyes $1 billion SPAC merger to go public, leading in real-world asset tokenization.
U.S. PE-backed IPOs rebound with 20 listings valued at $103.9 billion, driven by energy and infrastructure.
Superstate partners with Backpack to offer SEC-registered onchain equities like APPL and TSLA for direct ownership.
OCC approves Erebor Bank, backed by Palmer Luckey and Peter Thiel, targeting tech and crypto firms.
Paxos burns $300 trillion of accidentally minted PYUSD stablecoin after a decimal error, ensuring no market impact.
Stripe’s Bridge applies for OCC trust charter to issue and manage stablecoins under GENIUS Act oversight.
BlackRock builds tokenization tech for ETFs and assets to cut intermediaries and fees.
Stripe launches USDC-based subscriptions on Base and Polygon, reducing costs for global recurring businesses.
ICYMI
Luxembourg’s sovereign wealth fund allocates 1% of $900 million to Bitcoin ETFs, reflecting European adoption.
Swiss Exchange Group integrates SDX’s digital asset trading and post-trade services for tokenization projects.
Sports Investing
Sharp Alpha closes $150 million fund for non-dilutive growth capital in sports, gaming, and entertainment.
Chicago Bears QB Caleb Williams invests in NWSL’s Boston Legacy FC, supporting women’s soccer expansion.
Nevada judge rules Crypto.com’s sports outcome contracts fall under state wagering laws, not CFTC swaps.
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