To help you keep abreast of relevant activities, below find a breakdown of some of the biggest events at the federal and state levels to impact the Consumer Finance Services industry this past week...more
9/6/2023
/ Bitcoin ,
Blockchain ,
Consumer Financial Products ,
Consumer Financial Protection Bureau (CFPB) ,
Decentralized Finance (DeFi) ,
Digital Assets ,
Dodd-Frank ,
FDIC ,
Federal Trade Commission (FTC) ,
Financial Institutions ,
Financial Regulatory Reform ,
Financial Services Industry ,
Putative Class Actions ,
Regulatory Agenda ,
Securities and Exchange Commission (SEC) ,
Suspicious Activity Reports (SARs)
In this episode of The Crypto Exchange, our host Ethan Ostroff joins his colleagues Chris Willis and Trey Smith to discuss the current landscape of cryptocurrency regulation and enforcement. Our team offers insights to the...more
In this episode of The Consumer Finance Podcast, Troutman Pepper Partner Chris Willis is joined by colleagues Ethan Ostroff and Trey Smith to discuss the current landscape of cryptocurrency regulation and enforcement. Our...more
On August 8, the Federal Reserve Board (Fed) issued a press release providing additional information on its Novel Activities Supervision Program (Program) to monitor novel activities in the banks it oversees. Novel activities...more
8/17/2023
/ Application Programming Interface (APIs) ,
Banks ,
Blockchain ,
Cryptoassets ,
Cryptocurrency ,
Digital Assets ,
Distributed Ledger Technology (DLT) ,
Financial Institutions ,
Financial Services Industry ,
Securities and Exchange Commission (SEC) ,
Virtual Currency
To help you keep abreast of relevant activities, below find a breakdown of some of the biggest events at the federal and state levels to impact the Consumer Finance Services industry this past week...more
On February 14, the U.S. Senate Committee on Banking, Housing, and Urban Affairs (Committee) conducted an open session hearing entitled “Crypto Crash: Why Financial System Safeguards are Needed for Digital Assets.”...more
A recent decision out of the District of New Hampshire underscores the risks proprietary cryptocurrency issuers face and provides ammunition to the SEC in its continued quest to classify cryptocurrencies as securities subject...more
Seven years ago, Ethereum launched and became the predominant blockchain for developers to build decentralized applications powered by smart contracts (dApps). By leveraging Ethereum's smart-contract compatibility, developers...more
9/6/2022
/ Blockchain ,
Breach of Duty ,
Cryptocurrency ,
Decentralized Finance (DeFi) ,
Ethereum ,
General Partnerships ,
Legal Entities ,
Negligence ,
Phishing Scams ,
Putative Class Actions ,
Smart Contracts ,
Token Sales
Like most industries today, Consumer Finance Services businesses continue to be significantly impacted by COVID-19. To help you keep abreast of relevant activities, below find a breakdown of some of the biggest legislative...more
The New York State Department of Financial Services (NYDFS) recently issued guidance on the use of blockchain analytics for all virtual currency businesses that either have a BitLicense or are chartered as limited purpose...more
On May 4, following in the footsteps of President Biden’s recent executive order (Federal EO), California Governor Gavin Newsom issued his own blockchain-related executive order (CA EO), making California the first among the...more
On April 28, the Joint Chiefs of Global Tax Enforcement (the J5), a global joint operational taxation group consisting of Australia, Canada, Netherlands, United Kingdom, and the United States, issued an intelligence bulletin...more
On March 9, Wyoming amended the Decentralized Autonomous Organizations (DAO) Supplement (Supplement), which permits decentralized autonomous organizations (DAOs) to incorporate and obtain legal status as limited liability...more
On March 31, Idaho Governor Brad Little signed HB 583, the Digital Asset Act. The bill amends Title 28 of the Idaho Code, which governs commercial transactions generally, to include a new chapter dedicated to regulation of...more
On March 31, the Securities and Exchange Commission (SEC) issued Staff Accounting Bulletin No. 121 (Bulletin), noting that a company safeguarding or exerting custody over cryptocurrency on behalf of its platform users must...more
On March 31, the Securities and Exchange Commission (SEC) issued Staff Accounting Bulletin No. 121 (Bulletin), noting that a company safeguarding or exerting custody over cryptocurrency on behalf of its platform users must...more
Several recent releases of draft legislation, reports, and speeches highlight the federal government's efforts in the first quarter of 2022 to address the rapidly developing digital asset marketplace and its regulatory...more
TransUnion recently announced it will make off-chain credit data available on public blockchain networks through Spring Labs’ ky0x Digital Passport, which enables Web3/Decentralized Finance (DeFi) applications or smart...more