Gary DeWaal, special counsel in the Financial Services practice, provided an overview on the current state of cryptocurrency regulation in the United States and elsewhere to the International Swaps and Derivatives Association (ISDA) board of directors on Wednesday, June 27 in Paris, France. ISDA is the trade association for participants in the market for over-the-counter derivatives and its board members include leaders of the many of the world's top financial institutions. Gary also discussed the different characteristics of different types of crypto assets, and when some regulators, such as the Securities and Exchange Commission (SEC), consider crypto assets subject to US securities laws.