Like a Netflix thriller or a Robert Ludlum spy novel, we did our best last week to leave our readers in suspense on digital asset jurisdiction and enforcement. While jurisdiction was the big theme last week, the plot thickens this week as authors Peter Malyshev and Michael Ena take a deep dive into enforcement − what's happened to date and what they expect to see in the weeks and months to come. Additionally, as if on cue, a number of regulators gave speeches or released papers and statements on supervision and regulation of crypto-assets, and we provide a quick summary of those statements as well. 

Speaking of suspense, we already know the ending of the LIBOR story: the required transition to an alternative rate by the June 30, 2023 deadline. Earlier this week, the Federal Reserve's Alternative Reference Rates Committee (the “ARRC”) published a “Playbook” to provide a roadmap for market participants in transitioning their legacy LIBOR contracts to an alternative rate ... in less than one year. This week, the head of our LIBOR transition team, Lary Stromfeld, explains some of the steps recommended by the ARRC for the successful implementation of fallbacks in legacy LIBOR contracts.

As always, we are very interested in hearing from you. Our market-leading, award-winning LIBOR transition team is ready and able to assist, and we're here to answer any questions about Cabinet News and Views or, more broadly, financial regulatory issues and challenges. 

Daniel Meade and Michael Sholem
Co-Editors, Cabinet News and Views