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
New FDIC guidance permits crypto activities by supervised institutions without prior approval, emphasizing risk management and compliance with applicable laws and regulations....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
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
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
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
The CFPB’s proposal, its first attempt to regulate cryptocurrencies and stablecoins, is unlikely to survive the administration change....more
1/24/2025
/ Consumer Financial Products ,
Consumer Financial Protection Bureau (CFPB) ,
Cryptocurrency ,
Digital Assets ,
Electronic Fund Transfer Act ,
Financial Institutions ,
FinTech ,
Gaming ,
Online Gaming ,
Proposed Rules ,
Regulation E ,
Stablecoins
The rule aims to reduce market concentration by guaranteeing consumer access to personal financial data, but faces strident criticism and immediate legal challenge....more
10/30/2024
/ Consumer Data Requests ,
Consumer Financial Products ,
Consumer Financial Protection Bureau (CFPB) ,
Depository Institutions ,
Dodd-Frank ,
Final Rules ,
Financial Institutions ,
Financial Services Industry ,
FinTech ,
Open Banking ,
Personal Data ,
Sensitive Personal Information
The proposal would make key changes to the definition of “deposit broker” with significant ramifications for banks, fintechs, bank-fintech partnerships, and other third parties in the financial services industry....more
Recent Supreme Court administrative law rulings change the power dynamic between the executive and the judiciary in critical areas of statutory interpretation, enforcement, and immunity from legal challenge....more
7/15/2024
/ Administrative Authority ,
Administrative Procedure Act ,
Administrative Proceedings ,
Chevron Deference ,
Corner Post Inc v Board of Governors of the Federal Reserve System ,
Cryptoassets ,
Cryptocurrency ,
FinTech ,
Government Agencies ,
Judicial Authority ,
Jury Trial ,
Loper Bright Enterprises v Raimondo ,
SCOTUS ,
SEC v Jarkesy ,
Securities and Exchange Commission (SEC) ,
Seventh Amendment ,
Statute of Limitations ,
Statutory Authority ,
Statutory Interpretation
FIT21 would provide regulatory certainty for the US digital asset ecosystem, balancing support for innovation with consumer protection....more
5/30/2024
/ Blockchain ,
CFTC ,
Commodities ,
Consumer Protection Laws ,
Cryptocurrency ,
Decentralized Finance (DeFi) ,
Digital Assets ,
FinTech ,
Investment Contract ,
Non-Fungible Tokens (NFTs) ,
Pending Legislation ,
Rulemaking Process ,
Securities ,
Securities and Exchange Commission (SEC) ,
Stablecoins
The bipartisan bill seeks to foster innovation and promote US dollar dominance while protecting consumers and mitigating illicit finance risks.
On April 17, 2024, US Senators Cynthia Lummis from the Senate Banking...more
As federal regulation remains patchy, firms may want to consider a New York state charter as a potential avenue to expand digital asset offerings in a compliant manner.
On March 22, 2024, WisdomTree, Inc., a global asset...more
4/5/2024
/ Custody ,
Digital Assets ,
Exemptions ,
Fiduciary ,
FinTech ,
Investment Management ,
Investment Trust Companies ,
Market Participants ,
Money Transmitter ,
NYDFS ,
OCC ,
Stablecoins ,
State Charters ,
Subsidiaries
A recent bipartisan bill, if enacted, would particularly benefit small lenders and bank-fintech partnerships by promoting transparency, appellate rights, and examiner accountability.
On December 14, 2023, a bipartisan...more
The priorities highlight emerging and core risk areas for investment advisers, broker-dealers, and other entities, including cybersecurity and crypto assets.
On October 16, 2023, the Securities and Exchange Commission’s...more
11/3/2023
/ Broker-Dealer ,
Clearing Agencies ,
Compliance ,
Cryptoassets ,
Cybersecurity ,
FinTech ,
Investment Adviser ,
Investment Advisers Act of 1940 ,
Investment Companies ,
Market Participants ,
Marketing ,
Private Funds ,
SEC Examination Priorities ,
Securities and Exchange Commission (SEC)
New laws implement regulatory standards and licensing requirements for fintechs seeking to improve employee access to wages.
On June 13, 2023, Nevada enacted a law that regulates earned wage access (EWA) services provided...more
A new program addresses innovative banking activities such as bank-fintech partnerships and digital assets while reinforcing guardrails around stablecoin activity.
On August 8, 2023, the Board of Governors of the Federal...more
8/16/2023
/ Banking Sector ,
Banks ,
Compliance ,
Digital Assets ,
Enforcement Programs ,
Federal Reserve ,
Financial Institutions ,
FinTech ,
FRB ,
Risk-Based Approaches ,
Stablecoins
Consumers and businesses stand to benefit from rapid access to funds at any time when routed through participating financial institutions.
On July 20, 2023, the Federal Reserve announced the long-awaited launch of its...more
The guidance outlines principles and key considerations for banking organizations as they navigate risks associated with third parties, including fintechs.
On June 6, 2023, the Federal Deposit Insurance Corporation...more
6/23/2023
/ Banking Sector ,
FDIC ,
Financial Institutions ,
FinTech ,
FRB ,
Interagency Guidance ,
OCC ,
Risk Management ,
Third-Party ,
Third-Party Relationships ,
Third-Party Risk
Congress will be “starting from scratch” in attempting to establish a regulatory framework for stablecoins — an issue that many believe is the top digital asset legislative priority.
On April 15, 2023, the US House...more
A legislative initiative in Illinois would establish licensing and consumer protection requirements for digital asset businesses serving consumers in the state.
On February 21, 2023, the Illinois Department of Financial...more
3/29/2023
/ BitLicense ,
Compliance ,
Cryptocurrency ,
Digital Assets ,
Disclosure Requirements ,
Financial Services Industry ,
FinTech ,
Popular ,
Proposed Legislation ,
Regulatory Authority ,
Regulatory Oversight ,
Securities ,
Stablecoins
Multiple U.S. government agencies have pursued a stream of enforcement actions in the digital asset industry in recent years.
In fiscal year 2022, 20% percent of the enforcement actions brought by the Commodity Futures...more
The Financial Services Committee seeks to bring order to an industry many say has suffered from lack of proper rulemaking.
On January 12, 2023, incoming House Financial Services Committee Chair Patrick McHenry...more