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Cryptocurrency New Guidance Financial Services Industry

BakerHostetler

Weekly Blockchain Blog - July 2025 #2

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According to a recent press release, a major stablecoin consortium announced a new partnership with a leading international crypto exchange. The exchange has now integrated USDG and seeks to offer the stablecoin to its 60...more

Troutman Pepper Locke

CSBS Issues Guidance on Virtual Currency and Tangible Net Worth

Troutman Pepper Locke on

On June 26, the Conference of State Bank Supervisors (CSBS) released new guidance regarding the treatment of virtual currency in the calculation of a licensee’s tangible net worth under the Money Transmission Modernization...more

Troutman Pepper Locke

FDIC Turns a New Page on Banks’ Engagement in Crypto-Related Activities

Troutman Pepper Locke on

Last Friday, the Federal Deposit Insurance Corporation (FDIC) announced the rescission of Financial Institution Letter (FIL-16-2022) and issued new guidance clarifying the process for FDIC-supervised institutions to engage in...more

DLA Piper

Digital Transformation: eSignature and ePayment News and Trends - November/December 2024

DLA Piper on

Today’s ever-shifting business environment means that consumers, businesses, employers, and employees all expect to transact digitally. To remain efficient and competitive, companies must digitally transform their businesses....more

Latham & Watkins LLP

Hong Kong Monetary Authority Issues Guidance for Banks on Crypto Custody and Sale of Tokenised Products

Latham & Watkins LLP on

Regulator sets out its expectations for banks looking to provide digital asset custody services, and sell and distribute tokenised products. On 20 February 2024, the Hong Kong Monetary Authority (HKMA) published two...more

Skadden, Arps, Slate, Meagher & Flom LLP

The Capital Ratio: Roundup of Upcoming UK Regulatory Reforms for Financial Institutions

UK regulators have recently announced a number of reforms for banks and other financial institutions. - On 23 November 2023, the Prudential Regulation Authority (PRA) and the Financial Conduct Authority (FCA) (together,...more

Stikeman Elliott LLP

CSA Release Guidance on Public Crypto Asset Funds

Stikeman Elliott LLP on

This summer, the Canadian Securities Administrators (“CSA”) published CSA Staff Notice 81-336 Guidance on Crypto Asset Investment Funds that are Reporting Issuers (the “Notice”) concerning funds that seek to invest in crypto...more

Jenner & Block

Client Alert: Bank-Fintech Partnerships Update: Banking Agencies Finalize Key Risk Management Guidance

Jenner & Block on

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

BakerHostetler

Fintech Firms Launch New Products; Crypto Guidance Published by CFTC, EBA, UAE; OFAC Adds Public Keys to SDN List; CFTC, NY AG...

BakerHostetler on

Crypto Firms Announce New Product Launches in Custody, Stablecoins, Wallets - According to a recent press release, Prometheum Capital has received the first-ever approval from the Financial Industry Regulation Authority...more

Morgan Lewis

Cryptocurrency Not Recognised as Money, Singapore High Court Rules

Morgan Lewis on

The Singapore High Court recently rejected Algorand Foundation’s application to liquidate Three Arrows Capital based on a claim of 53.5 million USD Coin (USDC)—a form of cryptocurrency also known as a stablecoin, designed to...more

WilmerHale

Crypto Currently: New York Department of Financial Services Issues Virtual Currency Custody Guidance

WilmerHale on

On January 23, the New York State Department of Financial Services (DFS or the Department) issued guidance clarifying its expectations for New York-based virtual currency businesses regarding the custody of customer assets...more

Cadwalader, Wickersham & Taft LLP

FDIC Makes Clear That It Does Not Insure Crypto Exchanges

Last week, the Federal Deposit Insurance Corporation (“FDIC”) was part of two releases clarifying that only insured banks and thrifts enjoy FDIC insurance, notwithstanding what some non-banks may say in their marketing...more

Sheppard Mullin Richter & Hampton LLP

New York Releases Stablecoin Guidance

On June 8, the New York State Department of Financial Services (DFS) released its Guidance on the Issuance of U.S. Dollar-Backed Stablecoins meant to set foundational criteria for USD-backed stablecoins issued by...more

Proskauer - Blockchain and the Law

New York Financial Regulator Publishes Stablecoin Guidance

There have been a number of developments swirling around stablecoins in the past month, including, earlier this week, the recent introduction in the U.S. Senate of a bill (the “Responsible Financial Innovation Act”) that...more

Cadwalader, Wickersham & Taft LLP

The European Supervisory Authorities' Warning on the Risks of Cryptoassets

On March 17, 2022, the European Banking Authority, the European Insurance and Occupational Pensions Authority and the European Securities and Markets Authority (together, the European Supervisory Authorities or “ESAs”)...more

Morgan Lewis

New Guidelines Discourage Cryptocurrency Trading by General Public in Singapore

Morgan Lewis on

The Monetary Authority of Singapore (MAS) has issued new guidelines discouraging service providers of digital payment tokens (DPT), commonly known as cryptocurrencies, from promoting their services to the general public or...more

Faegre Drinker Biddle & Reath LLP

OFAC Issues Sanctions Compliance Guidance for Virtual Currencies

In October, the United States Department of the Treasury’s Office of Foreign Assets Control (“OFAC”) published new guidance for the virtual currency industry focusing on compliance with the financial industry’s obligations...more

Foley Hoag LLP - Security, Privacy and the...

OFAC Publishes New Guidance for the Virtual Currency Industry

The U.S Department of the Treasury’s Office of Foreign Assets Control (OFAC) has published guidance to aid members of the virtual currency industry (ranging from tech companies to brokers to users) in complying with OFAC...more

Sheppard Mullin Richter & Hampton LLP

Sanctions Compliance for Crypto: OFAC Issues Guidance Targeting Virtual Currency Industry

Last Friday, the Office of Foreign Assets Control (OFAC) published more targeted guidance for digital asset companies related to compliance with sanctions and best practices for mitigating risks. This guide comes on the heels...more

Perkins Coie

OFAC Releases New Detailed Guidance for the Digital Currency Industry

Perkins Coie on

On October 15, 2021, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) released guidance on sanctions compliance for the digital currency industry, the agency’s most detailed guidance to date on...more

Goodwin

CFPB Grants No-Action Letter for Proposed Small-Dollar Credit Product

Goodwin on

In the News. The Consumer Financial Protection Bureau (CFPB) granted a no-action letter (NAL) regarding a proposed small-dollar credit product and sought comment on the CFPB’s plan to study how consumers locate, comprehend...more

Proskauer - Blockchain and the Law

New York State Department of Financial Services Issues Guidance to Virtual Currency Entities

On February 7, 2018, the New York State Department of Financial Services (“DFS”) issued guidance for all virtual currency entities licensed by New York State regarding the prevention of market manipulation, fraud, and other...more

Perkins Coie

Fintech Week in Review – October 2017

Perkins Coie on

Below is a summary of some of the significant legal and regulatory actions that occurred over the past week. This alert is not intended to be a comprehensive list of all such developments, but rather a selection of...more

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