News & Analysis as of

Disclosure Requirements Digital Assets Financial Services Industry

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

Sheppard Mullin Richter & Hampton LLP

Stablecoin Regulation Takes Effect Under Newly Enacted GENIUS Act

On July 18, the Guiding and Establishing National Innovation for U.S. Stablecoins Act (GENIUS ACT) was signed into law, creating the first federal regulatory framework for payment stablecoins. The law prohibits the issuance...more

Ropes & Gray LLP

Senate Passes Landmark Legislation to Regulate Payment Stablecoins

Ropes & Gray LLP on

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

Troutman Pepper Locke

California’s DFPI Brings First Enforcement Action Under California’s Digital Financial Assets Law

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On June 25, the California Department of Financial Protection and Innovation (DFPI) entered a consent order with Coinme, Inc., a cryptocurrency “ATM” operator, for noncompliance with the California’s Consumer Financial...more

K&L Gates LLP

Australia: The Regulatory Developments for FY25 That Fund Managers Can’t Afford to Ignore

K&L Gates LLP on

As we have now said goodbye to FY25, we look back on some of the more significant regulatory developments that fund managers can’t afford to ignore....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

Fenwick & West LLP

Rollback of DeFi Reporting Regs Advances Through Congress

Fenwick & West LLP on

On March 4, 2025, the U.S. Senate passed joint resolution S.J.Res.3, disapproving the DeFi broker reporting regulations Treasury finalized at the end of the Biden Administration. Senator Ted Cruz (R-TX) introduced the...more

Cadwalader, Wickersham & Taft LLP

SEC Rescinds Crypto Interpretive Guidance That Has Hamstrung Industry

Effective January 30, the Securities & Exchange Commission ("SEC") rescinded the Staff Accounting Bulleting ("SAB") that has made engaging in crypto-related activities so perilous over the last couple of years, SAB-121,...more

Paul Hastings LLP

The U.K.’s New Cryptoasset Regime—the FCA Releases Its First Consultation Paper on Market Abuse and the Admissions and Disclosure...

Paul Hastings LLP on

The Financial Conduct Authority (FCA) has released its first publication (DP24/4) on its future rules for U.K. cryptoasset market participants. This discussion paper seeks input on the FCA’s proposed rules for admissions and...more

Skadden, Arps, Slate, Meagher & Flom LLP

Regulating Cryptoassets: Proposals for Crypto Market Abuse and Admissions & Disclosures Regimes

As part of the UK government’s drive to develop legislation for a UK regulatory regime to govern the cryptoassets sector, on 16 December 2024 the UK Financial Conduct Authority (FCA) published Discussion Paper DP24/4, which...more

Carey Olsen

A guide to blockchain and cryptocurrency regulation 2024: Bermuda (GLI chapter)

Carey Olsen on

Partner Steven Rees Davies, counsel Charissa Ball and associate Alexandra Fox have authored the Bermuda chapter of Global Legal Insight's sixth edition guide to blockchain and cryptocurrency regulation. The chapter covers the...more

Walkers

Digital Asset SCPS Consultation Guidance

Walkers on

The Bermuda Monetary Authority (the "Authority") released its Digital Asset Business Single Currency Pegged Stablecoins (SCPS) Consultation Guidance (the "Guidance"). The Guidance seeks to provide information and...more

WilmerHale

Crypto Currently: California Enacts Landmark Crypto Licensing Law

WilmerHale on

On October 13, Governor Gavin Newsom signed into law a comprehensive licensing regime for digital asset companies operating in California. Until this point, California had refrained from taking a definitive position on...more

Troutman Pepper Locke

Well, California Has Decided to Regulate Crypto

Troutman Pepper Locke on

On October 13, California Governor Gavin Newsom (D) signed Assembly Bill 39 (Digital Financial Assets Law). This new law broadly empowers the California Department of Financial Protection and Innovation (DFPI) to govern...more

Latham & Watkins LLP

Illinois Considering Crypto Licensing

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A legislative initiative in Illinois would establish licensing and consumer protection requirements for digital asset businesses serving consumers in the state. On February 21, 2023, the Illinois Department of Financial...more

Latham & Watkins LLP

New York Department of Financial Services Issues Crypto Custody Guidance

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The Guidance clarifies the regulator’s expectations on safekeeping customer digital assets, and the disclosures that must accompany such arrangements. On January 23, 2023, the New York Department of Financial Services...more

Shipkevich PLLC

New York Issues New Guidance on Crypto Currency Custodial Structures

Shipkevich PLLC on

On January 23, 2023, New York Department of Financial Services (DFS) released regulatory guidance to better protect customers in the event of virtual currency insolvency. The guidance is not binding, but rather persuasive...more

Cadwalader, Wickersham & Taft LLP

What's Next for the UK and the EU?

As we make the transition from 2022 to 2023, this is a good time to look ahead to developments in the UK and the EU that will likely impact the financial services industry. Here are some observations....more

Nutter McClennen & Fish LLP

Nutter Bank Report: September 2022

Headlines: ..OCC Publishes Security Standards for Video Teleconferencing With Agency Staff ..CFPB Imposes Civil Penalty and Customer Refunds for Authorized-Positive Overdraft Fees ..Treasury Department Recommends...more

Latham & Watkins LLP

Responsible Financial Innovation Act Offers Clarity, Safeguards for Digital Assets - Consumer Protection and State Money...

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The RFIA would define consumer protection standards for digital assets and introduce new requirements regarding digital asset use in interstate money transfers. Latham & Watkins presents a blog series on the Responsible...more

Goodwin

CFPB Launches New Initiative Focused on Rural Communities

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In This Issue. The Consumer Financial Protection Bureau (CFPB) announced a new initiative focused on financial issues faced by rural communities and also updated its examination procedures to cover unfair discrimination; the...more

King & Spalding

Energy Newsletter - April 2020

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Developing Contingency Plans: The NYDFS Mandate on Licensed Virtual Currency Businesses - The events surrounding COVID-19 have increased the use of fintech products, both out of necessity and convenience. Shelter-in-place...more

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