On December 17, 2025, the Depository Trust & Clearing Corporation (DTCC) announced a partnership with Digital Asset Holdings (Digital Asset), a developer of distributed ledger technology, to tokenize a subset of U.S. Treasury securities custodied at its subsidiary, the Depository Trust Company (DTC), using Digital Asset’s Canton Network. This announcement follows DTC’s receipt of a No-Action Letter from the U.S. Securities and Exchange Commission (SEC) on December 11, 2025, providing no-action relief allowing DTC to offer a pilot tokenization service for certain highly liquid assets.

New York recently expanded its algorithmic pricing laws, now requiring retailers to disclose when prices are set with algorithmic software based on consumers’ personal data.The so-called practice of surveillance pricing entails adjusting prices charged for goods and services according to monitored personal data.

On December 5, 2025, the U.S. Environmental Protection Agency (EPA) Office of Enforcement and Compliance Assurance (OECA) issued an internal policy memorandum^[1]that sets a “compliance first” directive for EPA’s enforcement programs.