News & Analysis as of

Federal Reserve Biden Administration Securities and Exchange Commission (SEC)

Davis Wright Tremaine LLP

New Administration Outlook: Trump Administration Transforms U.S. Policy on Digital Assets

The Trump Administration has embarked on a fundamental shift on how the United States approaches digital assets—in marked contrast with the Biden Administration's policies—likely changing the prospects of the crypto market in...more

WilmerHale

FTX Bankruptcy - What Could Be Next for the Industry?

WilmerHale on

One of the world’s largest cryptocurrency exchanges - FTX Trading Ltd. - and many of its affiliates filed for bankruptcy earlier this month. While the full impact of the FTX bankruptcy is not yet clear, various responses from...more

Clark Hill PLC

The Current Expectations of the Financial Services Regulatory Agenda – And What To Do

Clark Hill PLC on

President Biden spent nearly 18 months assembling his team of top financial services regulators. Michael Barr’s nomination as the top banking regulator at the Federal Reserve Board (FRB) will fill the last remaining vacancy...more

Mintz

Raskin Nomination for Federal Reserve Torpedoed by Conservative Objections to Potential Climate Regulations

Mintz on

Yesterday, Sarah Bloom Raskin, who had previously served as a Federal Reserve governor and deputy Treasury secretary during the Obama administration, withdrew her nomination to be the Federal Reserve's vice chair of...more

Kilpatrick

Congressional and Federal Agency Action Following Executive Order on Digital Assets Policy

Kilpatrick on

In early March 2022, President Biden signed an Executive Order on Ensuring Responsible Development of Digital Assets. Digital assets, in this context, cover various types of assets, including cryptocurrency, stablecoin, and...more

Bracewell LLP

Executive Order Legitimizes Cryptocurrency Industry – Regulation and Legislation up Next

Bracewell LLP on

The White House Executive Order on Ensuring Responsible Development of Digital Assets (the “EO”), is the policy statement that the industry was waiting and hoping for: one that recognizes the legitimacy of the cryptocurrency...more

Sheppard Mullin Richter & Hampton LLP

President Biden Signs Executive Order Outlining Crypto Policy

On March 9, President Biden signed a highly anticipated executive order outlining his administration’s cryptocurrency policy. We have previously blogged about the Biden administration’s working group on stablecoins and the...more

Holland & Knight LLP

The Impact of Cybersecurity Regulations on the Financial Services Industry in 2022

Holland & Knight LLP on

Following the SolarWinds and the Colonial Pipeline cyberattacks, the Biden Administration emphasized a shift toward mandatory cybersecurity requirements. Throughout 2021, government agencies issued new cybersecurity guidance,...more

Goodwin

President Biden Issues Sweeping Executive Order on Promoting Competition in the American Economy

Goodwin on

In This Issue. President Joe Biden issued a sweeping executive order aimed at cracking down on anticompetitive practices and reducing consolidation across multiple industry sectors, including financial services; the Federal...more

Goodwin

Supreme Court Decision Empowers President Biden to Replace Director of FHFA

Goodwin on

In This Issue. In a move that gives him the opportunity to put his stamp on housing policy and the potential overhaul of Fannie Mae and Freddie Mac, President Biden replaced the Director of the Federal Housing Finance Agency...more

Robins Kaplan LLP

Financial Daily Dose 4.29.2021 | Top Story: Fed Stays Course on Rates, Sees Improving Economy

Robins Kaplan LLP on

The Fed’s Open Market Committee meeting broke yesterday leaving rates at near-zero and pledging to “continue buying government-backed bonds at a steady pace as it tries to support the economy’s recovery from the coronavirus...more

Goodwin

CFPB To Revisit Trump-Era QM Final Rules

Goodwin on

In this Issue. The Consumer Financial Protection Bureau (CFPB) issued a statement announcing its intention to revisit Trump-era qualified mortgage (QM) final rules; the Biden Administration announced changes to the Small...more

Goodwin

SEC Issues No-Action Relief On Registered Funds’ Custody Of Loan Interests

Goodwin on

In this Issue. The U.S. Securities and Exchange Commission (SEC) was very active this week, having (i) issued no-action relief allowing registered funds to engage in self-custody of interests in loans that are originated,...more

Robins Kaplan LLP

Financial Daily Dose 2.10.2021 | Top Story: U.S. Drops Plans to Force TikTok Sale to Oracle and Walmart

Robins Kaplan LLP on

After months of drama that we dutifully catalogued right here, the U.S. plan to “force the sale of TikTok’s American operations” to Oracle and Walmart “has been shelved indefinitely.” The forced sale has “languished since...more

WilmerHale

Applicability of the Biden Administration’s Regulatory Freeze to Independent Agencies

WilmerHale on

On January 20, 2021, White House Chief of Staff Ron Klain issued a memorandum ordering a temporary freeze of new or pending rules in order “to ensure that the President’s appointees or designees have the opportunity” to...more

ArentFox Schiff

Joe Biden: Not Just President but Super-Superintendent of Insurance?

ArentFox Schiff on

In addition to dramatically changing the policies of former President Trump on the pandemic, the economy, immigration, and other key issues, the Biden Administration is likely to substantially increase the federal...more

Perkins Coie

Fintech Week in Review - January 2021 #3

Perkins Coie on

Federal Regulation Actions Frozen Pending Review from New Administration - On January 20, 2021, newly inaugurated President Joe Biden issued a memorandum to the Heads of Executive Departments and Agencies asking current...more

Latham & Watkins LLP

2020 Digital Asset Regulatory Lookback (US Edition)

Latham & Watkins LLP on

Regulators once again offered piecemeal guidance, while focusing on risks and enforcement. Meanwhile, innovation and institutional adoption took off. Last year, Latham & Watkins sounded a hopeful note that 2020 would provide...more

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