Associate
Norton Rose Fulbright US LLP
Gage Raju-Salicki is a litigator based in St. Louis. He is focused on securities, regulatory and commercial disputes with a particular interest in cryptocurrency. Gage has experience in the cryptocurrency sector working for the largest digital asset trade association in the United States.
Recent Articles & Comments
The CFTC’s updated FAQs provide some additional color in an update to Q5 regarding a swap dealer exchanging crypto assets as initial or variation margin for uncleared swaps entered into with a swap dealer or a financial end user. Of note is the addition of a third paragraph: “the Divisions would not object, for instance, to the use and acceptance of tokenized money market fund shares as initial or variation margin for uncleared swaps provided the underlying fund satisfies the requirements of…
The GENIUS Act rules are coming together quickly, and there is now likely enough on the…
Noteworthy here is the parallelism (and distinction) between the SEC and CFTC guidance on these topics—though perhaps "interrelationship" is more apt. The SEC's January 2026 joint staff statement and the represent similar but functionally distinct regulatory approaches to tokenization. While the SEC's statement addresses the fundamental question of what constitutes a tokenized security — it confirmed that the format of a security (whether recorded on-chain or off-chain) does not alter its…