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Banking Sector Digital Currency Federal Reserve

McGuireWoods LLP

Federal Banking Regulatory Agencies Issue Guidance on Crypto-Asset Safekeeping

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The global crypto-asset market cap has increased from approximately $2.3 trillion on election day, November 5, 2024, to approximately $3.9 trillion today, some eight months later. That rise in demand has been accompanied by a...more

Morrison & Foerster LLP

Crypto-Asset Safekeeping: What’s Involved If You’re a Bank (or if You Want to Be One)

On July 14, 2025, the federal banking agencies issued a joint statement to clarify regulatory expectations for banking organizations that provide or are considering providing safekeeping for crypto-assets (“Joint Statement”)....more

Ballard Spahr LLP

Consumer Finance Monitor Podcast Episode: What is FedNow and its Role in the U.S. Payments System?

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Our special guest is Professor Dan Awrey of Cornell Law School. In July 2023, the Federal Reserve launched FedNow, its instant payments system. After reviewing what FedNow is (and is not), we discuss FedNow’s design features...more

Orrick, Herrington & Sutcliffe LLP

Fed suggests enhancing supervision of “novel activities” by banks

On August 8, the Federal Reserve Board announced the issuance of two supervision letters that elaborate on the its program to supervise “novel activities” such as fintech partnerships, crypto-related activities, and...more

Morgan Lewis - All Things FinReg

Federal Reserve Announces Supervisory Developments for Dollar Tokens and ‘Novel Activities’ – But What’s New?

The Board of Governors of the Federal Reserve System (Federal Reserve) took another tepid step into the digital asset space on August 8, announcing that it has established a program to “enhance the supervision of novel...more

Poyner Spruill LLP

The Federal Reserve’s Rejection of SPDI Custodia Bank’s Applications

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On January 27, 2023, the Federal Reserve rejected Custodia’s August 2021 application to be a Federal Reserve member bank. On the same day, the Kansas City Federal Reserve denied Custodia’s October 2020 application for a...more

White & Case LLP

A New “Operation Choke Point”? The Quickly Changing Rules on Crypto Activities for Member Banks

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In an effort to align the permissibility of crypto activities for all member banks of the Federal Reserve System (the "FRS", which includes all national banks and state member banks), the Board of Governors of the Federal...more

A&O Shearman

Fed Imposes New Roadblock on Banks’ Crypto Activities

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Today, the Fed announced a new procedural requirement for banks seeking to engage in crypto activities. Going forward, a bank must provide formal notice to its lead supervisory contact at the Fed “prior to engaging in any...more

A&O Shearman

Federal Reserve Releases Paper on U.S. Central Bank Digital Currency

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On January 20, 2022, the Board of Governors of the Federal Reserve System (“Federal Reserve”) released a long-awaited paper on U.S. central bank digital currency (“CBDC”), Money and Payments: The U.S. Dollar in the Age of...more

Cooley LLP

Federal Reserve Seeks Comments on a US Central Bank Digital Currency

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The Federal Reserve Board recently released a discussion paper and is seeking public comments on the potential benefits and risks, and related policy considerations, of introducing a central bank digital currency (CBDC) in...more

Goodwin

EEOC Releases Updated COVID-19 Vaccine Guidelines for Employers

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In This Issue. The Equal Employment Opportunity Commission (EEOC) released updated COVID-19 vaccine guidelines for employers. Meanwhile, the Board of Governors of the Federal Reserve System (Federal Reserve) remained busy...more

Spilman Thomas & Battle, PLLC

Promissory Notes - Banking & Finance Insights, Issue 2

The Fed Plans to Unveil Digital Dollar Prototypes in July - "The Boston Fed and MIT hope to unveil some of their work in the third quarter, including at least two prototype software platforms that could move, store and...more

Cooley LLP

Alert: Federal Reserve Shares Update on Central Bank Digital Currencies

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While participating in the Federal Reserve Bank of San Francisco’s innovation office hours on August 13, Federal Reserve Governor Lael Brainard reported on the Federal Reserve’s ongoing research and experimentation related to...more

BakerHostetler

Federal Reserve Addresses Digital Currencies, Financial Firms Announce Crypto Initiatives, Blockchain Solutions Announced,...

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Federal Reserve Addresses CBDCs Amid Crypto Initiatives by US and Foreign Firms - Late last week, Lael Brainard, a member of the Board of Governors of the U.S. Federal Reserve System, gave a speech in which she commented on...more

Robins Kaplan LLP

Your Daily Dose of Financial News

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Markets proved that last Friday’s 600-point Dow drop wasn’t an isolated incident, as all major US indices were down nearly 4% (at least) in a nasty Monday of trading....more

A&O Shearman

US Federal Reserve Board Vice Chairman for Supervision Randal Quarles Delivers Remarks on Prudent Innovation in the Payment System

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Vice Chairman for Supervision of the US Federal Reserve Board Randal Quarles provided remarks at the 2017 Financial Stability and Fintech Conference regarding innovation in the payments system. Vice Chairman Quarles noted...more

Robins Kaplan LLP

Your Daily Dose of Financial News

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The UK and EU made a significant breakthrough early this morning to “unlock” Brexit divorce negotiations. The still-rough agreement would see Britain repaying $53 billion and addressed in at least vague terms thorny issues...more

Kilpatrick

Federal Reserve Vice Chairman for Supervision Speaks About “Prudent Innovation in the Payment System”

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On November 30, 2017, Federal Reserve Board Vice Chairman for Supervision Randal Quarles delivered remarks at the 2017 Financial Stability and Fintech Conference sponsored by the Federal Reserve Bank of Cleveland, the Office...more

Robins Kaplan LLP

Your Daily Dose of Financial News

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Wells Fargo is again in federal regulators’ crosshairs. The OCC has dubbed the bank a repeat offender and is weighing a “formal enforcement action” over “improprieties in its auto-insurance and mortgage operations”....more

Robins Kaplan LLP

Your Daily Dose of Financial News

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Facebook may have had a difficult day on the Hill. But a 79% rise in Q3 profit—driven, ironically enough, by online ads—should help soften the blow....more

Moore & Van Allen PLLC

Anti-Money Laundering and Bank Secrecy Act Update

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After the Panama Papers exposed efforts by wealthy individuals and government officials to hide funds offshore, government authorities around the world have responded with new legislation, regulations and enforcement actions...more

Robins Kaplan LLP

Your Daily Dose of Financial News

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It’s been far from a smooth ride for Uber over the past few weeks. And Friday’s revelation that the ride-sharing company’s been using a tool called “Greyball” to mine and use app data to “deceive the authorities in markets...more

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