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New White House Report Outlines U.S. Policy for Digital Assets

President Trump's "Working Group on Digital Asset Markets" recently released a report with a strategic roadmap to advance American leadership in digital financial technology....more

With New Action Plan, White House Launches AI "Space Race"—What Banks Should Know

The White House has issued an AI Action Plan that aims to position the United States as the leader in artificial intelligence ("AI"), as part of a broader pattern of boosting innovation and reducing regulatory burden, with...more

Federal Reserve Withdraws Crypto-Related Guidance Including Notification Requirements for Banking Organizations

The Federal Reserve Board ("Board") softened its stance on regulation of crypto activity by banking organizations by rescinding supervisory letters that created hurdles for crypto-asset activities and by joining the Office of...more

Developments in Crypto Regulation: DeFi Tax Reporting Repeal and SEC Disclosure Guidance

The Trump administration continues its efforts to relax digital asset regulation, including most recently by exempting decentralized finance ("DeFi") apps and wallets from tax reporting and through Securities and Exchange...more

FDIC Rescinds Prior Notification Requirement for Banks' Permissible Crypto Activities

The FDIC has rescinded an earlier Financial Institution Letter establishing a prior notification requirement for FDIC-supervised institutions that wish to engage in specified crypto-related activities and has clarified that...more

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