News & Analysis as of September 20, 2024

Virtual Currency › Trump Administration

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Virtual Currency (aka Digital Currency or Digital Money) is a type of currency or medium of exchange that is not issued by any government nor guaranteed by a government currency. Despite lacking legal tender status, Virtual Currency is still traded and exchanged in some environments, typically online environments or communities. Bitcoin is the most well-known form of Virtual Currency. less -

Biden Administration Faces Last-Ditch Efforts by the Trump Administration to Curb the Digital Assets Industry

Pillsbury Winthrop Shaw Pittman LLP on 1/25/2021

The incoming Biden team will need to quickly address significant digital asset issues, including a major enforcement action and a significant proposed FinCEN rule initiated in the final days of the outgoing administration. ...more

Financial Daily Dose 9.20.2019 | Top Story: Fintech startup Stripe Inc. hits $35 billion valuation in latest funding round

Robins Kaplan LLP on 9/20/2019

Fintech firm Stripe Inc., which “allows internet companies and online marketplaces to accept credit cards for their goods and services and pay out money to the people and firms that sell on their platforms,” just wrapped a...more

Anti-Money Laundering and Sanctions: Trends and Developments Emerging Under the Trump Administration

WilmerHale on 7/29/2019

Bank Secrecy Act/anti-money laundering (BSA/AML) and sanctions matters continue to be a core focus of regulators, law enforcement agencies, policymakers and Congress, and the story of the Obama and Trump Administrations on...more

Financial Daily Dose 6.10.2019 | Top Story: U.S. Reverses Course on Tariffs Set to Hit Mexican Goods Today

Robins Kaplan LLP on 6/10/2019

The White House announced on Friday that the US and Mexico reached a deal that it deemed sufficient to keep from levying the threatened 5% tariffs on Mexican goods that was set to take effect today. As details of that deal...more

Your Daily Dose of Financial News

Robins Kaplan LLP on 9/27/2018

To no one’s surprise, the Fed followed through with its months of promises and raised its benchmark interest rate by 25 basis points yesterday. The FOMC also indicated that it’s planning to raise rates again in December....more

Your Daily Dose of Financial News

Robins Kaplan LLP on 9/19/2018

China is answering the White House’s latest tariff announcement with another $60 billion in levies on US goods of its own....more

US creates task force to help with crypto investigations

Hogan Lovells on 7/30/2018

What has happened? US President Donald Trump has signed an executive order, establishing a task force that will develop guidance for the investigation and prosecution of fraud, including "digital currency fraud"....more

CFTC and SEC Approve Revised Memorandum of Understanding on Information Sharing

Skadden, Arps, Slate, Meagher & Flom LLP on 7/10/2018

On June 29, 2018, the U.S. Commodity Futures Trading Commission (CFTC) and the U.S. Securities and Exchange Commission (SEC, and together the Commissions) announced that the Commissions approved a memorandum of understanding...more

Your Daily Dose of Financial News

Robins Kaplan LLP on 6/15/2018

In what can only be described as a Lazarus-like return, the Ex-Im Bank is reportedly nearly back on its feet again. The White House has chosen Kimberly Reed to helm the agency after prior nominee Scott Garrett was rejected by...more

Orrick's Financial Industry Week In Review

Orrick, Herrington & Sutcliffe LLP on 6/8/2018

U.S. Financial Industry Developments - Economic Growth, Regulatory Relief and Consumer Protection Act - The "Economic Growth, Regulatory Relief and Consumer Protection Act," signed by the President on May 24, amends...more

Your Daily Dose of Financial News

Robins Kaplan LLP on 5/23/2018

The US House included the revised Volcker Rule that we’ve discussed in a broader package of Dodd-Frank reforms that it passed with bipartisan support last night. The bill—ostensibly aimed at easing restrictions on small to...more

Your Daily Dose of Financial News

Robins Kaplan LLP on 4/13/2018

In what can only be deemed a major reversal, the White House has reportedly ordered its economic adviser and trade representative to study rejoining the Trans Pacific Partnership, just a year after yanking the US out of deal...more

Trump Administration Imposes Venezuelan Digital Currency Sanctions

Jones Day on 4/9/2018

On March 19, 2018, President Trump signed an Executive Order prohibiting U.S. persons and anyone within the United States from engaging in "transactions related to, [the] provision of financing for, and other dealings in ......more

U.S. Bans Venezuela’s Oil-Backed Virtual Currency, “Petro,” and Announces Plans to Publish SDNs’ Virtual Currency Addresses

Ballard Spahr LLP on 3/28/2018

Last week, President Donald Trump issued an Executive Order banning “all transactions” and “dealings” by any individual or entity in the United States that involve “any digital currency, digital coin, or digital token” issued...more

Your Daily Dose of Financial News

Robins Kaplan LLP on 3/23/2018

The White House’s protectionist plan to impose roughly $60 billion in annual tariffs on Chinese imports went over like a lead balloon on Wall Street, sparking fears of a trade war, increased volatility, and unintended ripple...more

Your Daily Dose of Financial News

Robins Kaplan LLP on 3/14/2018

Breakingviews on what the White House’s intervention into Broadcom’s [dropped] bid for Qualcomm could mean for the US-based chip maker. [Hint, it involves China, and it’s not great for the big Q]....more

Your Daily Dose of Financial News

Robins Kaplan LLP on 3/8/2018

Heath insurance behemoth Cigna has agreed to buy Express Scripts—a “pharmacy benefits manger”—for $67 billion in cash and stock, including assuming $15 billion of its debt. The merger is one of a series of big moves in the...more

CFTC Updates on Virtual Currency Regulation, Alternatives to Libor and Fallout From Brexit

Skadden, Arps, Slate, Meagher & Flom LLP on 1/31/2018

In 2017, Commodity Futures Trading Commission (CFTC) Chairman J. Christopher Giancarlo made clear he will strive to improve, not abolish, many reforms the CFTC adopted to implement the Dodd-Frank Act’s mandate for new...more

Europe Insights

Skadden, Arps, Slate, Meagher & Flom LLP on 1/26/2018

Despite a year of continued global political uncertainty and increasing enforcement, shareholder activism and foreign investment control activity, the 2018 outlook for Europe is positive overall. Skadden partners in the U.K.,...more

Your Daily Dose of Financial News

Robins Kaplan LLP on 1/22/2018

A look at Amazon’s newest concept—Amazon Go—a convenience store that opens in Seattle today complete with “shelves of food” found at other stores (including Whole Foods) but with nary a cashier in sight....more

Your Daily Dose of Financial News

Robins Kaplan LLP on 12/14/2017

As widely expected, the Fed affirmed the general strength of the US economy today by raising the benchmark interest rate again today—the 5th raise since the financial crisis....more

Financial Services Report – Winter 2017

MoFo Reenforcement on 12/12/2017

EDITOR’S NOTE - The holidays came early for the financial services industry. First, the Senate voted to repeal the CFPB’s rule banning class waivers in arbitration agreements in consumer financial contracts. Then,...more

Your Daily Dose of Financial News

Robins Kaplan LLP on 11/2/2017

Facebook may have had a difficult day on the Hill. But a 79% rise in Q3 profit—driven, ironically enough, by online ads—should help soften the blow....more

Blockchain Week in Review – August 2017 #6

Perkins Coie on 8/21/2017

Below is a summary of some of the significant legal and regulatory actions that occurred over the past week. This alert is not intended to be a comprehensive list of all such developments, but rather a selection of...more

Your Daily Dose of Financial News

Robins Kaplan LLP on 6/1/2017

Even as the administration is mulling over withdrawing from the Paris Climate Accord, Exxon Mobil’s shareholders have voted to demand a more detailed accounting of the climate change policy risks facing the company—an...more

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Virtual Currency › Trump Administration

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