News & Analysis as of

Digital Currency Office of the Comptroller of the Currency Financial Services Industry

Cadwalader, Wickersham & Taft LLP

Operation and Structure of the GENIUS Act of 2025 on Payment Stablecoins

The Guiding and Establishing National Innovation for U.S. Stablecoins Act of 2025 (the “GENIUS Act” and the “Act”) establishes a regulatory infrastructure for defining, managing, custodying and issuing a specific kind of...more

McGlinchey Stafford

OCC Advises “Careful and Cautious” Approach to FinTech-Bank Partnerships

McGlinchey Stafford on

On Wednesday, September 7, 2022, acting Comptroller of the Currency Michael J. Hsu gave remarks in New York City at the Clearing House + Bank Policy Institute Annual Conference. Hsu’s remarks, “Safeguarding Trust in Banking:...more

Venable LLP

ETA FinTech Policy Forum

Venable LLP on

​​​​​​​This note summarizes the federal regulator panels at ETA's annual FinTech Policy Forum, which was hosted by Venable in our Washington, DC office. We provide key takeaways from the discussions with (a) CFPB Director...more

Alston & Bird

U.S. Government Steps Up Its Enforcement in the Digital Assets Space

Alston & Bird on

Our Blockchain & Digital Assets Team offers a snapshot sample of significant recent developments by a panoply of federal agencies and departments that represent the expanding array of enforcement tools used by federal...more

A&O Shearman

OCC Issues Consent Order Against A Digital Bank

A&O Shearman on

On April 21, 2022, the Office of the Comptroller of the Currency (OCC) issued a consent order against Anchorage Digital Bank, a digital asset bank based in South Dakota. Notably, Anchorage had previously become the first...more

Mayer Brown Free Writings + Perspectives

US Financial Regulators Release Much-Anticipated Report on Stablecoins

On November 1, 2021, the President’s Working Group on Financial Markets (PWG) released its much-anticipated Report on Stablecoins (Report). The Federal Deposit Insurance Corporation (FDIC) and the Office of the Comptroller of...more

Latham & Watkins LLP

PWG Issues Clarion Call for US Legislation on Stablecoins

Latham & Watkins LLP on

The report addresses the market risks and regulatory challenges presented by stablecoins and urges Congress to act quickly. On November 1, 2021, the President’s Working Group on Financial Markets (PWG) in conjunction...more

Spilman Thomas & Battle, PLLC

Promissory Notes - Banking & Finance Insights, Issue 4

Welcome to our fourth issue of Promissory Notes -- our e-newsletter focused on banking and finance insights. We hope you are enjoying our monthly publication. New OCC Chief Signals Greater Caution on Crypto "'We created...more

Morgan Lewis - All Things FinReg

OCC Conditionally Approves Trust Company Charter for Crypto Firm

The OCC granted preliminary conditional approval on April 23 to an application to charter Paxos National Trust (Paxos) as an uninsured national trust bank. Paxos, which currently operates as a New York state-charted limited...more

Polsinelli

Better Than Under the Mattress - OCC Opens the Door to Cryptocurrency Custody

Polsinelli on

The Office of the Comptroller of the Currency (OCC) recently published a letter clarifying the authority of national banks and federal savings associations to provide cryptocurrency custody services for customers.  ...more

BakerHostetler

New Crypto Services Address Custody, Payment Cards and ATS’s, OCC Says Banks Can Custody Crypto, DOJ Charges Bitcoin ATM Operator...

BakerHostetler on

Reports Detail New Plans for Crypto Custody Services, Payment Cards and ATS Platforms - According to recent reports, a major multinational financial services firm is taking steps toward launching a cryptocurrency custody...more

BakerHostetler

Financial Services 2018 Year-End Report

BakerHostetler on

Welcome to the 2018 Year-End Report from BakerHostetler’s Financial Services Industry Team . We are pleased to share our analysis of some of the key developments in the financial services industry in 2018 and our expectations...more

Goodwin

Financial Services Weekly News - January 2018 #3

Goodwin on

Editor's Note - “Humility and Prudence” at the CFPB. In a memo to employees of the Consumer Financial Protection Bureau (CFPB) later turned into a Wall Street Journal op-ed, Acting CFPB Director Mick Mulvaney articulated his...more

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