News & Analysis as of

Digital Assets Cryptoassets Financial Services Industry

Katten Muchin Rosenman LLP

SEC Approves In-Kind Creation and Redemption for Crypto Exchange-Traded Products

The US Securities and Exchange Commission (SEC) approved the use of in-kind creation and redemption mechanisms for cryptocurrency exchange-traded product (ETP) shares on July 29.1 This move aligns crypto-based ETPs with...more

Troutman Pepper Locke

FINRA Continues to Scrutinize Customer Facing Communications on Crypto Offerings

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On July 16, TradeStation Securities, Inc., a member firm of the Financial Industry Regulatory Authority (FINRA), submitted a Letter of Acceptance, Waiver, and Consent (AWC) to FINRA’s Department of Enforcement. This AWC...more

A&O Shearman

ESMA peer review report issuing CASP oversight recommendations under MiCAR

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The European Securities and Markets Authority (ESMA) has published a peer review report assessing the authorisation and supervision of a crypto-asset service providers (CASPs) under the Markets in Crypto-Assets Regulation...more

Hogan Lovells

ESMA publishes “Do’s and Don't’s” for CASPs offering unregulated services

Hogan Lovells on

On 11 July 2025, the European Securities and Markets Authority (“ESMA”) published guidance for crypto-asset service providers (“CASPs”) offering both regulated (under the EU's Markets in Crypto-assets Regulation (“MiCA”)) and...more

Jones Day

Banking on Crypto: Regulators Clarify Rules for Digital Asset Safekeeping

Jones Day on

Federal banking regulators continue to promote a more "crypto-positive" regulatory environment through recent joint guidance issued to clarify risk management and compliance expectations for banks providing crypto-asset...more

Vedder Price

Jonathan Gould Confirmed as Comptroller of the Currency

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On Thursday, July 10, 2025, the U.S. Senate confirmed Jonathan Gould to serve as the next Comptroller of the Currency in a 50–45 vote. Gould will succeed Acting Comptroller Rodney Hood, who offered his congratulations and...more

K2 Integrity

[Webinar] Banking Digital Assets – Key AML Compliance Considerations - July 29th, 12:00 pm - 1:00 pm ET

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K2 Integrity’s Justina Rousseau, senior managing director, and Elizabeth Severinovskaya, managing director, will join Arnold & Porter’s Kevin M. Toomey, partner and chair of the Financial Services practice, and Erik Walsh,...more

Carey Olsen

Introducing CARF - the OECD's Crypto-Asset Reporting Framework

Carey Olsen on

The recent proliferation of crypto-assets and its uses have transformed the international financial landscape, offering innovative opportunities for payments, investment and Decentralised Finance (DeFi). At the heart of it,...more

Latham & Watkins LLP

EBA Publishes No Action Letter on Interaction Between MiCA and PSD2

Latham & Watkins LLP on

In the short term, firms are likely to face dual authorisation and significant regulatory requirements. On 10 June 2025, the European Banking Authority (EBA) issued a No Action letter on the relationship between the...more

A&O Shearman

Further suite of technical standards supplementing MiCAR published in the OJ

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Three Commission Delegated Regulations supplementing Regulation (EU) 2023/1114 (the EU Markets in Crypto Assets Regulation) (MiCAR) have been published in the Official Journal of the European Union, namely: - Commission...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

Hogan Lovells

Digital asset regulation in the UK: A quick guide for overseas entities

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Numerous jurisdictions across the globe are developing their own cryptoasset regulatory frameworks—the UK is no exception. Cryptoasset businesses overseas looking to enter the UK market, or to offer services to customers in...more

DLA Piper

Blockchain and Digital Assets News and Trends – April 2025

DLA Piper on

This periodic bulletin is designed to help companies identify important legal developments governing the use and acceptance of blockchain technology, smart contracts, and digital assets. While the use cases for blockchain...more

DLA Piper

SEC Staff Observations on Compliance with Disclosure Requirements in Offerings and Registrations of Securities in the Crypto Asset...

DLA Piper on

On April 10, 2025, the staff of the Division of Corporation Finance of the US Securities and Exchange Commission (SEC) issued a statement (Staff Statement) expressing its observations regarding certain disclosure requirements...more

DLA Piper

Redeemable, USD-Linked Stablecoins are not Securities – Latest SEC Staff Guidance

DLA Piper on

The Division of Corporation Finance at the US Securities and Exchange Commission (SEC) recently issued guidance regarding the application of federal securities laws to certain stablecoins. While this guidance, released on...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

Advisors aren’t sold on Bitcoin

On whether to recommend Bitcoin and other digital assets for clients, financial advisers are wary about their fiduciary duty to clients, according to a CoinShares survey....more

Orrick, Herrington & Sutcliffe LLP

Hood reportedly discusses cryptoassets, de-banking, and new attitudes

On March 18, the OCC’s acting comptroller, Rodney Hood, reportedly spoke at a retail banking conference on several pertinent banking issues. Hood emphasized the OCC will not tolerate debanking of lawful businesses, including...more

Cadwalader, Wickersham & Taft LLP

Regulation in Flux, March 2025 - UK Government Proposes Action Plan on a “New Approach To Ensure Regulators and Regulation Support...

The UK’s Treasury ("HMT") has set out an Action Plan to ensure that regulation promotes growth and investment. Noting that while regulation has many benefits, the UK’s current stance is hindering its international...more

A&O Shearman

IOSCO publishes 2025 Work Program

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The International Organization of Securities Commissions (IOSCO) has published its 2025 Work Program, setting out its ongoing and planned initiatives for 2025. These include: (i) prioritising issues related to non-bank...more

A&O Shearman

ESAs publish guidelines on the standardised test for crypto-assets and templates for explanations and opinions under MiCAR

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The European Supervisory Authorities (ESAs) have published guidelines on: (i) a common approach for the regulatory classification of crypto-assets under the Markets in Crypto-asset Regulation (MiCAR); and (ii) templates for...more

Clark Hill PLC

White House Establishes Strategic Bitcoin Reserve

Clark Hill PLC on

On March 6, President Trump issued an executive order declaring the “Establishment of the Strategic Bitcoin Reserve and United States Digital Asset Stockpile.” The move marks a massive leap forward for an administration that...more

Troutman Pepper Locke

OCC Clarifies Bank Authority to Engage in Certain Cryptocurrency Activities

Troutman Pepper Locke on

On March 7, the Office of the Comptroller of the Currency (OCC) issued a significant update regarding the involvement of national banks and federal savings associations in cryptocurrency activities. Interpretive Letter 1183...more

A&O Shearman

EBA opinion on EC's partial rejection of RTS on information required in application for authorisation of ARTs

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The European Banking Authority (EBA) has published an opinion (dated 25 February) on the European Commission's (EC's) amendments relating to the final draft regulatory technical standards (RTS) on the information to be...more

Mayer Brown Free Writings + Perspectives

SEC Announces Crypto Roundtables

On March 3, 2025, the Securities and Exchange Commission (SEC) announced that its newly-formed Crypto Task Force will host a series of public roundtable discussions on key areas of interest relating to the regulation of...more

A&O Shearman

Wolfsberg Group FAQs to help assess risks generated by the emergence of digital assets for AML and CTF purposes

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The Wolfsberg Group has published FAQs on defining digital assets. The FAQs propose definitions to be used by financial institutions, policymakers, supervisors and regulators to understand the characteristics of digital...more

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