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
3/29/2023
/ BitLicense ,
Compliance ,
Cryptocurrency ,
Digital Assets ,
Disclosure Requirements ,
Financial Services Industry ,
FinTech ,
Popular ,
Proposed Legislation ,
Regulatory Authority ,
Regulatory Oversight ,
Securities ,
Stablecoins
Digital asset activities of licensed institutions must be approved and will be assessed for potential safety and soundness risks.
On December 15, 2022, the New York State Department of Financial Services (NYDFS) issued...more
US lawmakers urge FSOC to designate cloud-based storage systems used by major banks as systemically important financial market utilities.
In an August 22, 2019, letter addressed to Treasury Secretary Steven Mnuchin, in his...more
9/5/2019
/ Amazon ,
Banking Sector ,
Cloud Storage ,
Dodd-Frank ,
European Central Bank ,
European Commission ,
Federal Reserve ,
Financial Institutions ,
Financial Markets ,
Financial Stability Board ,
FinTech ,
FSOC ,
Google ,
Legislative Agendas ,
Microsoft ,
Popular ,
Regulatory Oversight ,
Rule G-20
While many fintech companies will welcome the regulatory approach, banks and state regulators have some concerns.
In a long-awaited move aimed at establishing some clarity around the regulatory framework for companies...more
Murgio decision reflects a growing judicial consensus around the application of money transmitting laws to Bitcoin exchangers.
On September 19, 2016, U.S. District Judge Alison J. Nathan of the Southern District of New...more