Massachusetts has joined the growing list of states that have at least partially adopted the Model Money Transmission Modernization Act. Our Financial Services Group examines the model act, how the Bay State has adopted it,...more
The New York State Department of Financial Services has issued an industry letter detailing the prior approval process for all New York banking organizations seeking to engage in new or significantly different virtual...more
Our Financial Services & Products Group investigates the federal banking regulators’ roadmap for crypto-asset regulation in 2022 and a new OCC procedure national banks must comply with to conduct crypto-asset activities....more
A&B Abstract:
Effective January 1, 2020, Rhode Island will regulate virtual currency under its money transmission laws....more