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Cryptocurrency Banks Banking Sector

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

BakerHostetler

Weekly Blockchain Blog - July 2025 #3

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According to a recent press release, a major U.S. bank has entered into a strategic partnership with the largest U.S. cryptocurrency exchange platform. This collaboration reportedly aims to expand access to secure digital...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

Ropes & Gray LLP

Senate Passes Landmark Legislation to Regulate Payment Stablecoins

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On July 18, 2025, U.S. President Donald J. Trump signed the GENIUS Act (Guiding and Establishing National Innovation for U.S. Stablecoins Act), an act designed to establish a framework for the regulation of “payment...more

Nutter McClennen & Fish LLP

The GENIUS Act is Signed into Law: What Banks Need to Know about Payment Stablecoins

On July 18, 2025, President Trump signed into law the Guiding and Establishing National Innovation for U.S. Stablecoins Act (the “GENIUS Act”), after it passed both the U.S. Senate by a vote of 68-30 and the U.S. House in a...more

Latham & Watkins LLP

Banking Agencies Issue Joint Statement on Risk-Management Considerations for Cryptoasset Safekeeping

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Banking organizations safekeeping digital assets for customers must do so in a safe and sound manner and in compliance with applicable laws and regulations....more

Sheppard Mullin Richter & Hampton LLP

Federal Banking Regulators Issue Joint Guidance on Crypto-Asset Safekeeping

On July 14, the OCC, Federal Reserve, and FDIC announced the release of a joint statement clarifying how existing laws and regulations apply to crypto-asset safekeeping services offered by banking organizations. The statement...more

Troutman Pepper Locke

Federal Agencies Release Guidance on Crypto-Asset Safekeeping for Banks

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On July 14, the Office of the Comptroller of the Currency (OCC), the Board of Governors of the Federal Reserve System (the Board), and the Federal Deposit Insurance Corporation (FDIC) jointly issued a statement addressing the...more

Perkins Coie

GENIUS Act Passes US Senate in Significant Step Towards Regulatory Clarity for Stablecoins

Perkins Coie on

The U.S. Senate passed the Guiding and Establishing National Innovation for U.S. Stablecoins Act or GENIUS Act (S.1582) (the Act) in a 68-30 bipartisan vote on June 17, 2025. The GENIUS Act would provide a clear regulatory...more

Orrick, Herrington & Sutcliffe LLP

OCC clarifies crypto-asset activities in interpretive letter

On May 7, the OCC clarified permissible activities for national banks and federal savings associations regarding crypto-asset custody and execution services by publishing Interpretive Letter 1184. This letter confirmed...more

Latham & Watkins LLP

OCC Affirms Banks Can Engage in Crypto Custody and Execution Activities

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The federal banking agencies continue to open the channels for regulated entities to engage in digital asset activities. On May 7, 2025, the Office of the Comptroller of the Currency (OCC) published Interpretive Letter...more

DLA Piper

Bank Regulatory News and Trends - May 2025

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This regular publication from DLA Piper focuses on helping banking and financial services clients navigate the ever-changing regulatory landscape....more

K&L Gates LLP

Federal Banking Regulators Adopt a Permissive Stance on Cryptocurrency

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The federal banking regulators have each recently adopted a more permissive approach to the regulation of cryptocurrency activities within the banking sector. The Office of the Comptroller of the Currency (OCC), the Federal...more

King & Spalding

OCC Clarifies Crypto-Asset Guidance

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The Office of the Comptroller of the Currency (“OCC”) and the Federal Deposit Insurance Corporation (“FDIC”) have both recently taken actions and issued statements that indicate a more permissive bank regulatory approach to...more

Jones Day

FDIC Rescinds Prior Notification Requirement for Banks' Permissible Crypto Activities

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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

Cooley LLP

FDIC: Banks Can Engage in Crypto-Related Activities Without Prior Notice

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On March 28, 2025, the Federal Deposit Insurance Corporation (FDIC) clarified that FDIC-supervised institutions do not need to provide notice or obtain approval from the FDIC prior to engaging in crypto-related activities....more

Katten Muchin Rosenman LLP

Banking Agencies Begin Publishing Updated Crypto Guidance

On March 28, the Federal Deposit Insurance Corporation (FDIC) rescinded Biden administration guidance related to state-chartered banks' participation in "crypto-related activities" and published a new interpretation of the...more

BakerHostetler

Weekly Blockchain Blog - March 2025 #5

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In a recent press release, Custodial Bank and Vantage Bank announced “America’s first bank-issued stablecoin on a permissionless blockchain.” According to the press release, “[t]he banks collaborated on the mint, transfer and...more

Sheppard Mullin Richter & Hampton LLP

FDIC Aims to Eliminate Reputational Risk from Supervision

On March 24, acting FDIC Chairman Travis Hill informed Congress that the agency is preparing to eliminate the use of “reputation risk” as a basis for supervisory criticism. In a letter to Rep. Dan Meuser (R-Pa.), Hill...more

Womble Bond Dickinson

Crypto Regulatory Roundup - Q1 2025

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Since President Trump’s inauguration, the crypto industry has been on a tear. And no, this time, we’re not just talking about the price of Bitcoin. In the past two months, Washington D.C. has taken a deliberate interest in...more

Orrick, Herrington & Sutcliffe LLP

Lawsuit reveals crypto “Pause Letters” issued by FDIC

On December 6, in a joint status report filed in the U.S. District Court for the District of Columbia, the FDIC made public 23 “Pause Letters” that the FDIC issued to regulated, unnamed institutions to pause...more

Wilson Sonsini Goodrich & Rosati

Focus on Fintech – Q3 2024

In this issue of Wilson Sonsini's Focus on Fintech, our attorneys discuss updates and developments from federal regulators, including those related to bank-fintech partnerships, cryptocurrency and virtual currency updates,...more

A&O Shearman

Basel Committee on Banking Supervision Finalizes Various Technical Amendments to the Basel Framework

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The Basel Committee on Banking Supervision has published a document on the finalization of various technical amendments to the Basel framework. The amendments relate to: (i) the definition of specialized lending in the...more

Orrick, Herrington & Sutcliffe LLP

Connecticut Banking Commissioner suspends bitcoin-ATM operator’s money transmitter license

On October 25, the Connecticut Banking Commissioner has suspended a money transmitter’s license, citing several issues: inadequate KYC policies, multiple consumer complaints about fraudulent activity, and insufficient capital...more

Hogan Lovells

The Payments Newsletter including Digital Assets & Blockchain, October 2024

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Key developments of interest over the last month include: the UK FCA publishing a consultation on two-stage reforms to the payments and e-money safeguarding regime; the U.S. Consumer Financial Protection Bureau announcing a...more

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