With the change of presidential administrations in January, there has been a significant shift in the landscape for financial technology companies in the United States for 2025 and beyond. First, the new administration...more
4/21/2025
/ Biden Administration ,
Consumer Financial Protection Bureau (CFPB) ,
Cryptocurrency ,
Department of Justice (DOJ) ,
FDIC ,
Federal Reserve ,
FinTech ,
OCC ,
Regulatory Reform ,
State and Local Government ,
Trump Administration
A few months ago, in our client alert titled “Mr. Bitcoin Goes to Washington,” we discussed the cryptocurrency industry’s significant political resurgence in the wake of the 2024 election. We not only forecasted a more...more
A rising tide does not necessarily lift all boats when it comes to increasing compliance in the world of crypto asset investments. In fact, the existence of a bull market or a seemingly friendly regulatory environment can...more
Few industries experienced a more drastic reversal of fortune on Election Day than the cryptocurrency sector. On November 4, several of its largest companies were locked in a seemingly interminable battle with the Securities...more
12/11/2024
/ Bank Secrecy Act ,
Bitcoin ,
CFTC ,
Cryptocurrency ,
Digital Assets ,
Gary Gensler ,
Legislative Agendas ,
PACs ,
Presidential Appointments ,
Presidential Elections ,
Regulatory Agenda ,
Regulatory Reform ,
Sanctions ,
Securities and Exchange Commission (SEC) ,
Technology Sector ,
Trump Administration
This session will provide a survey of key issues and trends impacting the fintech and digital assets community as well as the future opportunities and challenges presented for these financial products and services. It will...more
4/22/2024
/ Banking Regulators ,
Banking Sector ,
Banks ,
Consumer Financial Protection Bureau (CFPB) ,
Continuing Legal Education ,
Cryptocurrency ,
Digital Assets ,
Enforcement Actions ,
Financial Products ,
Financial Regulatory Agencies ,
Financial Services Industry ,
FinTech ,
NYDFS ,
Partnerships ,
Risk Management ,
Securities and Exchange Commission (SEC) ,
Third-Party Risk ,
Webinars
Point-of-sale financing arrangements payable in four or fewer interest-free installments, known as buy now, pay later (BNPL) arrangements, have soared since their initial breakthrough during the pandemic. Unlike conventional...more
3/19/2024
/ Buy Now Pay Later (BNPL) ,
Consumer Financial Protection Bureau (CFPB) ,
Cryptocurrency ,
Disclosure Requirements ,
Dispute Resolution ,
Financial Services Industry ,
FinTech ,
Lending ,
OCC ,
Privacy Laws ,
Regulation Z ,
Regulatory Agenda ,
Regulatory Requirements ,
Risk Management ,
Truth in Lending Act (TILA)
In recent guidance, the Financial Industry Regulatory Authority (FINRA) published the results of its targeted examination or “sweep” of crypto assets retail communications distributed or issued by its member firms, finding...more
I. Introduction: EWA on the Precipice -
The increasing use of earned wage access (“EWA”) by workers in the United States and around the world has helped to bring financial flexibility to many previously constrained by the...more
11/14/2023
/ Advisory Opinions ,
Consumer Financial Protection Bureau (CFPB) ,
Cryptoassets ,
Cryptocurrency ,
Employer Liability Issues ,
FinTech ,
Labor Regulations ,
Regulation Z ,
Regulatory Requirements ,
Wage and Hour ,
Wages
After prolonged deliberation, California has finally decided to enter the virtual currency regulatory arena by adopting two virtual currency regulatory bills into law. The California Digital Financial Assets Law (“DFAL”),...more
10/25/2023
/ California ,
Cryptocurrency ,
Department of Financial Protection and Innovation (DFPI) ,
Digital Assets ,
Digital Currency ,
Financial Regulatory Reform ,
Governor Newsom ,
New Legislation ,
New Regulations ,
Regulatory Agenda ,
Regulatory Requirements ,
State and Local Government ,
Virtual Currency
Shinhan Bank America (“Shinhan”), a New York-based subsidiary of a Korean bank, faced coordinated enforcement actions on September 29 from the Financial Crimes Enforcement Network (“FinCEN”), Federal Deposit Insurance...more
10/12/2023
/ Anti-Money Laundering ,
Bank Secrecy Act ,
Banking Sector ,
Cryptoassets ,
Cryptocurrency ,
Enforcement Actions ,
FDIC ,
Financial Institutions ,
FinCEN ,
FinTech ,
New York ,
NYDFS
The New York Department of Financial Services (NYDFS) proudly announced an “update on [its] two-year transformational initiative to strengthen NYDFS’ nation-leading virtual currency oversight” on September 18, 2023. Although...more
10/9/2023
/ Bitcoin ,
Comment Period ,
Corporate Governance ,
Cryptoassets ,
Cryptocurrency ,
New Guidance ,
NYDFS ,
Public Comment ,
Regulatory Agenda ,
Regulatory Requirements ,
Virtual Currency
On June 6, 2023, federal banking agencies issued final Interagency Guidelines on Third-Party Relationships detailing their expectations for banks in establishing risk management practices with third-parties—including...more
6/16/2023
/ Banking Sector ,
Banks ,
Cryptoassets ,
Cryptocurrency ,
FDIC ,
Financial Institutions ,
Financial Services Industry ,
FinTech ,
New Guidance ,
OCC ,
Servicing Agreements ,
Third-Party