In July 2023, a federal judge ruled that XRP itself was not inherently an investment contract, prompting exchanges like Coinbase and Kraken to restore U.S. XRP trading

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Judge Alvin K. Hellerstein ruled under Federal Rule of Civil Procedure 60 that newly acquired knowledge of facts existing when the January 2025 consent order was entered does not constitute a significant change in factual circumstances

The CFTC filed a lawsuit in 2022 alleging Gemini Trust Company made false or misleading statements of material fact in 2017 regarding a Bitcoin futures contract relying on Gemini auction prices

On September 25, 2026, the U.S. Court of Appeals for the Sixth Circuit ruled in KalshiEx LLC v. Schuler that sports event contracts are not swaps under federal law and that the Commodity Exchange Act does not preempt Ohio sports gaming laws

The Ohio Casino Control Commission warned prediction market operators that non-compliance could result in civil financial penalties equaling Ohio-generated revenue, as well as state criminal penalties for unlicensed bookmaking

Polymarket US, operating through CFTC-registered QCX LLC, filed a federal lawsuit in the U.S. District Court for the Southern District of Ohio on October 16, 2026, against Interim Attorney General Andy Wilson and the Ohio Casino Control Commission

On October 2, 2026, the Ohio Casino Control Commission sent cease-and-desist letters to 10 prediction market operators demanding they halt unlicensed sports event contracts and provide written compliance confirmation by October 16, 2026

As of October 21, 2026, an Ohio Casino Control Commission spokesperson stated that one notified prediction market operator confirmed compliance while two operators filed lawsuits against the state

CME filed a lawsuit against the CFTC on June 18, 2026, arguing that perpetual contracts without expiry dates must legally be classified as swaps rather than futures

The U.S. Court of Appeals for the Third Circuit ruled in favor of Kalshi against New Jersey on federal preemption, prompting New Jersey to petition the U.S. Supreme Court for review

Ripple Chief Legal Officer Stuart Alderoty stated that Ripple spent over $150 million on legal fees during its multi-year SEC lawsuit over XRP sales

Ripple supported the SEC's proposed Regulation Crypto Assets approach allowing an investment contract to end once an issuer completes or permanently stops promised essential managerial activities

Ripple asked the SEC to ensure consistent treatment of separated crypto assets defined under the SEC's proposed Regulation Crypto Assets across the Securities Act, Exchange Act, Investment Company Act, and Investment Advisers Act

The SEC's proposed Regulation Crypto Assets framework, unveiled in August 2026, includes a conditional safe harbor for digital assets that cease to be investment contracts

Ripple asked the SEC to avoid introducing additional legal tests based on whether a cryptocurrency is associated with a company or an independent network

Ripple urged the SEC to reject decentralization as a separate legal test, stating metrics like governance participation, node distribution, software contributions, and economic control cannot reliably determine ongoing contractual obligations

Kazakh authorities restricted access to Coinbase in 2023 for regulatory non-compliance, while Kazakhstan's Financial Monitoring Agency blocked access to nearly 1,000 unregistered crypto exchanges in 2023

The Astana Financial Services Authority issued warnings to more than 20 cryptocurrency platforms regarding Astana International Financial Centre regulatory compliance rules during 2025

Nine cryptocurrency platforms voluntarily blocked app access for users in Kazakhstan, prompting the Astana Financial Services Authority to withdraw its court claims against those operators

The Hyperliquid Policy Center recommended that routine administrative delivery steps, such as connecting a wallet or completing sanctions and KYC screening, should not be legally interpreted as payment for airdropped tokens.

In March 2026, the SEC and CFTC issued a joint guidance interpretation addressing how federal securities laws apply to cryptocurrency activities, including airdrops and staking.