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The SEC's push to regulate the next generation of blockchain-based applications will likely give rise to disputes and enforcement actions, particularly in the developing decentralized finance (DeFi) space.
Last year, we wrote, "The regulatory and litigation risks for private funds are greater than at any time since the financial crisis in 2008."
None of this is to say that we are concerned for the private funds industry. Consumer confidence and spending remain robust, capital remains historically cheap, and private equity investment is strong, but the current market and regulatory environment is unlikely to persist.
Last year, we wrote, “The regulatory and litigation risks for private funds are greater than at any time since the financial crisis in 2008.” That statement is even more true today.
On September 9, 2021, President Biden issued Executive Order 14042 and related guidance, requiring most government contractors and subcontractors who…