On July 18, 2025, President Trump signed into law the Guiding and Establishing National Innovation for US Stablecoins Act (the GENIUS Act), legislation that establishes a regulatory framework for payment stablecoins. ...more
7/25/2025
/ CFTC ,
Commodities ,
Cryptocurrency ,
Digital Assets ,
Digital Currency ,
Federal Reserve ,
Financial Markets ,
New Legislation ,
OCC ,
Regulatory Requirements ,
Securities ,
Securities and Exchange Commission (SEC) ,
Stablecoins ,
U.S. Treasury
Banking organizations safekeeping digital assets for customers must do so in a safe and sound manner and in compliance with applicable laws and regulations....more
7/18/2025
/ Bank Secrecy Act ,
Banking Sector ,
Banks ,
BSA/AML ,
Cryptocurrency ,
Custodians ,
Digital Assets ,
FDIC ,
Federal Reserve ,
Financial Institutions ,
Joint Statements ,
OCC ,
Office of Foreign Assets Control (OFAC) ,
Regulatory Requirements ,
Risk Management
The Staff highlighted disclosure-related observations and issues identified during reviews of digital asset ETP filings.
On July 1, 2025, the Securities and Exchange Commission’s (SEC’s) Division of Corporation Finance...more
7/16/2025
/ Compliance ,
Corporate Governance ,
Cryptoassets ,
Digital Assets ,
Disclosure Requirements ,
Exchange-Traded Products ,
Financial Markets ,
Investment Companies ,
Policy Statement ,
Reporting Requirements ,
Risk Factors ,
Securities and Exchange Commission (SEC)
The proposal aims to free up large bank balance sheets and promote US Treasury market intermediation, which the current regulations may hinder....more
7/9/2025
/ Banking Regulators ,
Banks ,
Capital Requirements ,
Depository Institutions ,
Deregulation ,
FDIC ,
Federal Reserve ,
Financial Regulatory Reform ,
Global Systemically Important Banks (G-SIBs) ,
Leverage Ratio ,
OCC ,
Proposed Rules ,
Public Comment ,
Regulatory Reform ,
U.S. Treasury
The Staff clarifies that protocol staking does not qualify as a security under the Howey Test, clearing the way for market participants to engage in staking....more
6/16/2025
/ Blockchain ,
Crypto Exchanges ,
Cryptoassets ,
Digital Assets ,
Howey ,
Investment Contract ,
Market Participants ,
Regulatory Requirements ,
Securities Act of 1933 ,
Securities Exchange Act ,
Securities Regulation ,
Stablecoins ,
Unregistered Securities
The SEC’s dismissal of recent “unregistered dealer” enforcement actions cements a scaling back of the dealer definition and reflects a policy shift from the prior SEC....more
The Staff’s most recent actions continue to set the stage for notice-and-comment rulemaking long-awaited by the digital asset industry....more
The OCC is restoring its former practices and policies under the Bank Merger Act to reinstate expedited merger reviews and streamlined business combination applications....more
5/19/2025
/ Acquisitions ,
Bank Merger Act ,
Banking Sector ,
Biden Administration ,
Expedited Actions Process ,
Financial Institutions ,
Interim Final Rules (IFR) ,
Mergers ,
OCC ,
Rescission ,
Trump Administration
The federal banking agencies continue to open the channels for regulated entities to engage in digital asset activities.
On May 7, 2025, the Office of the Comptroller of the Currency (OCC) published Interpretive Letter...more
5/12/2025
/ Banking Sector ,
Banks ,
Cryptocurrency ,
Custody ,
Digital Assets ,
Financial Institutions ,
Interpretive Letters ,
New Regulations ,
OCC ,
Outsourcing ,
Regulatory Requirements ,
Risk Management
FRB eases crypto restrictions on supervised entities in alignment with the new administration’s support for the digital asset industry....more
5/5/2025
/ Banking Sector ,
Cryptocurrency ,
Digital Assets ,
FDIC ,
Federal Reserve ,
Financial Regulatory Reform ,
FinTech ,
FRB ,
OCC ,
Regulatory Oversight ,
Regulatory Reform
The Staff noted that a stablecoin generally is not subject to SEC jurisdiction if it is not an investment and used solely for commercial activity....more
4/25/2025
/ Digital Assets ,
FinTech ,
Howey ,
Popular ,
Regulatory Oversight ,
Regulatory Requirements ,
Reves Test ,
Securities Act of 1933 ,
Securities and Exchange Commission (SEC) ,
Securities Exchange Act ,
Securities Regulation ,
Stablecoins
On April 10, 2025, the Securities and Exchange Commission’s (SEC’s) Division of Corporation Finance (the Staff) published a Statement on Offerings and Registrations of Securities in the Crypto Asset Markets (the Statement)....more
In light of ongoing litigation and the Trump administration’s new policy approach, federal banking agencies intend to rescind the 2023 CRA final rule and revert to pre-2023 standards....more
4/8/2025
/ Banking Regulators ,
Banking Sector ,
Biden Administration ,
Community Reinvestment Act ,
FDIC ,
Federal Reserve ,
Final Rules ,
Judicial Authority ,
OCC ,
Regulatory Reform ,
Trump Administration
The Staff Statement provides clarity that Proof-of-Work crypto mining does not involve securities, reducing regulatory uncertainty and enforcement risks for miners....more
New FDIC guidance permits crypto activities by supervised institutions without prior approval, emphasizing risk management and compliance with applicable laws and regulations....more
An executive order and related legislation centralizes Bitcoin and digital asset holdings across the federal government to optimize oversight and management of crypto as a US reserve asset.
On March 6, 2025, President...more
In a break from restrictive Biden-era policies, OCC-supervised banks may now engage in crypto without supervisory nonobjection, potentially opening new avenues for innovation....more
The Staff stated that most meme coins are not subject to federal securities laws or SEC fraud enforcement; who will oversee meme coins remains an open question.
On February 27, 2025, the Securities and Exchange...more
3/12/2025
/ CFTC ,
Consumer Protection Laws ,
Cryptoassets ,
Enforcement Actions ,
Federal Trade Commission (FTC) ,
Investors ,
Non-Fungible Tokens (NFTs) ,
NYDFS ,
Regulatory Oversight ,
Retail Investors ,
Securities and Exchange Commission (SEC) ,
Securities Regulation ,
Token Sales
Under its new acting chairman appointed by President Trump, the FDIC charges ahead with its new agenda by rolling back key Biden-era regulatory efforts.
On March 3, 2025, the Federal Deposit Insurance Corporation (FDIC)...more
Stablecoin regulation is a top priority for lawmakers, and three recent proposals reflect differing perspectives on how to achieve regulatory clarity while balancing safety and innovation....more
The SEC’s move is part of a recent shift toward a less enforcement-centric approach that is set to reshape the regulatory framework for digital assets in the US....more
Commissioner Hester Peirce outlined 10 priorities for the Crypto Task Force, aiming for regulatory clarity while promoting innovation in digital asset markets....more
2/11/2025
/ Blockchain ,
Broker-Dealer ,
Cryptocurrency ,
Digital Assets ,
Enforcement Priorities ,
Exchange-Traded Products ,
FinTech ,
Investment Adviser ,
Popular ,
Regulatory Agenda ,
Securities and Exchange Commission (SEC) ,
Securities Regulation
On January 22, 2025, New York Attorney General (NYAG) Letitia James announced a judgment and settlement against cash advance provider Yellowstone Capital, its officers, and two dozen affiliates (Yellowstone) for more than $1...more
The FDIC seeks to stick to its statutory mandate while reducing impediments to fintech, innovation, mergers, bank formation, and efficient supervision....more
With its pro-crypto stance and urgent posture, the executive order promises to make the US the “crypto capital of the planet.”
On January 23, 2025, President Trump issued a highly anticipated executive order on digital...more
1/28/2025
/ Blockchain ,
CFTC ,
Cryptocurrency ,
Digital Assets ,
Executive Orders ,
Federal Reserve ,
Financial Regulatory Reform ,
FinTech ,
Popular ,
Securities and Exchange Commission (SEC) ,
Stablecoins ,
Trump Administration