News & Analysis as of

Digital Currency Financial Institutions Digital Assets

Orrick, Herrington & Sutcliffe LLP

OCC interpretive letter permits cryptocurrency activities for banks

On March 7, the OCC issued its Interpretive Letter 1183, affirming that national banks and federal savings associations can engage in various cryptocurrency activities, including crypto-asset custody, certain stablecoin...more

A&O Shearman

Implications of the SEC’s stance that meme coins are not securities

A&O Shearman on

On February 27, 2025, the U.S. Securities and Exchange Commission’s Division of Corporation Finance issued a formal Staff Statement on “meme coins.” In this statement, the SEC staff took the position that typical meme...more

Orrick, Herrington & Sutcliffe LLP

FDIC releases documents on cryptoasset supervision and plans policy reevaluation

On February 5, the FDIC released 175 documents concerning its supervision of banks involved in cryptoasset-related activities. This release of documents, announced by Acting Chairman Travis Hill, was part of a commitment to...more

WilmerHale

CFPB Proposes Significant Expansion in Scope of EFTA and Regulation E

WilmerHale on

On January 10, 2025, the Consumer Financial Protection Bureau (CFPB or Bureau) issued a proposed interpretive rule that would expand the Bureau’s consumer protection authority under the Electronic Fund Transfer Act (EFTA) and...more

Carlton Fields

Blockchain: A Conundrum for Clearinghouses and Financial Institutions

Carlton Fields on

Centralized financial intermediaries are a cornerstone for trading, settling, and clearing securities. Large institutions manage the individual accounts at the front end of these activities, while the Depository Trust &...more

Hogan Lovells

The Payments Newsletter including Digital Assets and Blockchain, January 2025

Hogan Lovells on

Key developments of interest over the last month include: the U.S. Consumer Financial Protection Bureau looking at digital payment privacy and consumer protections; the UK FCA publishing a discussion paper on admissions and...more

Allen Matkins

Looking For A Crypto Scam?  You Might Find It Here

Allen Matkins on

The California Department of Financial Protection & Innovation has created an online "Crypto Scam Tracker" that allows the public to  by search company name, scam type, or keywords.  Scams reported on the Tracker are  based...more

Brownstein Hyatt Farber Schreck

Crypto Policy Outlook in the Trump Administration

During the 2024 campaign, President-elect Donald Trump took significant steps to embrace digital assets and the industry that has developed around them, positioning himself as a champion of crypto. In a speech delivered at...more

Hogan Lovells

The Payments Newsletter including Digital Assets & Blockchain, October 2024

Hogan Lovells on

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

American Conference Institute (ACI)

[Event] Crypto and Digital Asset Fraud & Recovery - April 25th - 26th, South Kensington, London, United Kingdom

Don’t miss out on the 2nd Annual Crypto and Digital Asset Fraud & Recovery – London conference, the premier gathering for the Digital Asset Fraud community! Stay ahead in this dynamic field by joining C5 in London to delve...more

Ballard Spahr LLP

Blockchain Analysis and Related Expert Testimony Admissible In Criminal Trial

Ballard Spahr LLP on

It is challenging for law enforcement to track down and trace illicit activities conducted through digital currencies. The process can be very time- and resource-intensive. Further, securing charges and arrests, and...more

BakerHostetler

Weekly Blockchain Blog - March 2024 #2

BakerHostetler on

Financial Institutions Add Bitcoin ETFs, Crypto Product Integrations Continue - According to recent reports, two major U.S. financial institutions have begun offering spot bitcoin exchange-traded funds (ETFs) to their...more

Orrick, Herrington & Sutcliffe LLP

RegFi Episode 19: Keeping Regulatory Pace in a Global Digital Economy with John Gulliver

John Gulliver — the Executive Director of the Program on International Financial Systems and the Committee on Capital Markets Regulation — joins RegFi co-hosts Jerry Buckley and Caroline Stapleton for a conversation about the...more

Wilson Sonsini Goodrich & Rosati

Two New Rulings from the SDNY with Mixed Messages for Crypto: Potential Implications for Regulation of the Crypto Industry

A pair of recent rulings from the Southern District of New York (SDNY) have potentially increased confusion around the regulatory status of crypto asset regulation—but may also provide some interesting signs of what’s to...more

A&O Shearman

Legal hot takes – the ECB’s Digital Euro

A&O Shearman on

The Digital Euro project is the European Central Bank’s (ECB) response to the changing landscape of consumer payments, driven by the rise of cryptocurrency, payment fintechs and electronic transactions. A Digital Euro would...more

Poyner Spruill LLP

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

Poyner Spruill LLP on

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

A&O Shearman

FSOC Report on Digital Assets: Mitigate Crypto Risks through Regulatory Oversight

A&O Shearman on

On October 3, 2022, as lawmakers in the United States continue to debate which agencies should regulate crypto-based activities, the Financial Stability Oversight Council (FSOC) released its Report on Digital Asset Financial...more

A&O Shearman

Fed Imposes New Roadblock on Banks’ Crypto Activities

A&O Shearman on

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

Bennett Jones LLP

Canadian Cryptocurrency Companies Join Global Initiative to Combat Money Laundering

Bennett Jones LLP on

On May 24, 2022, nine Canadian cryptocurrency companies—Wealthsimple, CoinSmart, Netcoins, Shakepay, VirgoCX, Tetra Trust, BlocPal, Balance and Coinsquare—announced their membership in the Travel Rule Universal Solution...more

Pillsbury Winthrop Shaw Pittman LLP

Commerce Requests Public Input on Digital Assets in Response to Biden’s Executive Order

Businesses connected to digital assets in any way have an opportunity to influence public policy if they submit comments by July 5, 2022. On May 19, 2022, the U.S. Department of Commerce’s International Trade...more

Cranfill Sumner LLP

An Overview of Europe’s Planned Cryptocurrency Regulations

Cranfill Sumner LLP on

In 2020, the European Union proposed a set of regulations known as the Markets in Crypto Assets Regulation – MiCA for short – as part of its efforts to “make Europe fit for the digital age and to build a future-ready economy...more

Proskauer - Blockchain and the Law

European Central Bank Executive Board Member Decries “Crypto Gamble” and Echoing SEC Chair Gensler, Calls for Regulation of the...

In a speech given this week at Columbia University by Fabio Panetta, Member of the Executive Board of the European Central Bank (ECB), he decried the entire “crypto gamble,” seeing crypto-assets as “bringing about instability...more

Kilpatrick

Treasury Secretary Delivers Key Remarks on Digital Assets Regulation - Three Takeaways

Kilpatrick on

Janet Yellen, Secretary of the Treasury and former chair of the Federal Reserve, delivered remarks on digital assets policy, innovation, and regulation late last week. Her remarks addressed President Biden’s March Executive...more

Nelson Mullins Riley & Scarborough LLP

[Event] Women in FinTech (“WinFin2022”) - March 31st, Miami, FL

Join Nelson Mullins’s Women in FinTech (“WinFin”) Group for the inaugural WinFin Conference. The panel of nationally recognized thought leaders will share insights on FinTech’s global development. As we celebrate Women's...more

Skadden, Arps, Slate, Meagher & Flom LLP

FATF Updates Its Global Guidelines for the Regulation of Virtual Assets With an Eye to Emerging Technologies

On October 28, 2021, the Financial Action Task Force (FATF), the international body that sets standards for anti-money laundering and countering the financing of terrorism (AML/CFT), released updated guidance addressing the...more

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