The past two weeks have been a whirlwind of activity for the financial and crypto sectors, with developments on Capitol Hill and from key regulatory agencies. President Donald Trump’s nomination of Michelle Bowman as the...more
On February 21, 2025, Dubai-based Bybit, one of the world’s leading cryptocurrency exchanges, suffered a massive security breach, resulting in the loss of approximately $1.5 billion in Ethereum (ETH). The incident, which is...more
3/14/2025
/ Anti-Money Laundering ,
Cryptocurrency ,
Cyber Attacks ,
Cybersecurity ,
Data Breach ,
Digital Assets ,
Financial Crimes ,
National Security ,
Popular ,
Regulatory Oversight ,
Securities and Exchange Commission (SEC)
Congress and federal agencies have continued to back more industry-friendly crypto regulations and appear to be looking for paths forward for new legislation. Under new leadership, the agencies have indicated a willingness to...more
3/7/2025
/ Anti-Money Laundering ,
CFTC ,
Corporate Counsel ,
Cryptocurrency ,
Decentralized Finance (DeFi) ,
Digital Assets ,
Executive Orders ,
FDIC ,
Financial Regulatory Reform ,
FinTech ,
IRS ,
Regulatory Reform ,
Securities and Exchange Commission (SEC)
Last year, the House passed the Financial Innovation and Technology for the 21st Century Act (FIT 21) to close gaps created by current laws that did not anticipate the emergence of digital assets. FIT 21 seeks to divide...more
The new Trump administration took numerous actions in its first week, including an order directing the creation of a working group on Digital Asset Markets. The president’s other actions touch on numerous areas of the...more
2/3/2025
/ Consumer Financial Protection Bureau (CFPB) ,
Cryptocurrency ,
Department of Justice (DOJ) ,
Digital Assets ,
EFTA ,
Enforcement Actions ,
Executive Orders ,
FDIC ,
Financial Regulatory Reform ,
Financial Services Industry ,
Regulatory Freeze ,
Securities and Exchange Commission (SEC) ,
Trump Administration
President Trump’s crypto executive order (the Crypto Executive Order) was a first step in the Trump Administration’s articulation of a policy on promoting the lawful use of blockchain technology. It remains to be seen whether...more
1/31/2025
/ Anti-Money Laundering ,
CFTC ,
Compliance ,
Cryptoassets ,
Cryptocurrency ,
Digital Assets ,
Enforcement Actions ,
Executive Orders ,
FinCEN ,
Office of Foreign Assets Control (OFAC) ,
Popular ,
Regulatory Agenda ,
Securities and Exchange Commission (SEC) ,
Trump Administration ,
U.S. Treasury
This week’s Crypto Policy Tracker highlights major developments, including a crypto executive order from the new Trump administration and the launch of a new SEC Crypto Task Force led by Commissioner Hester Peirce, signaling...more
1/27/2025
/ CFTC ,
Cryptoassets ,
Cryptocurrency ,
Digital Assets ,
Enforcement Actions ,
Executive Orders ,
Financial Institutions ,
Financial Regulatory Reform ,
Regulatory Agenda ,
Regulatory Reform ,
Securities and Exchange Commission (SEC) ,
Stablecoins ,
Trump Administration
This week, Congress wrapped up its final session of the 118th Congress. Crypto legislation in the next Congress will likely be based on the bills introduced in the prior session, but we might see some significant changes to...more
This week, Congress wrapped up its final session of the 118th Congress. Crypto legislation in the next Congress will likely be based on the bills introduced in the prior session, but we might see some significant changes to...more
A significant headwind for companies in the digital asset space is that they have reportedly struggled to secure and maintain relationships with banks, in what is now called “Choke Point 2.0.” With the incoming Trump...more
12/16/2024
/ Cryptocurrency ,
Digital Assets ,
FDIC ,
Federal Reserve ,
Financial Regulatory Agencies ,
Financial Services Industry ,
FinTech ,
OCC ,
Risk Management ,
Securities and Exchange Commission (SEC) ,
Staff Accounting Bulletin ,
U.S. Treasury
The 119th Congress is positioned to be the most pro-crypto in history, reflecting a growing acknowledgment of the digital asset industry’s significance. What makes this moment truly remarkable is the unprecedented support of...more
In this update, we focus on the potential changes in the executive branch and on the congressional committees that have jurisdiction over cryptocurrency. As the transition unfolds, much attention is on who will stay from the...more
11/25/2024
/ Anti-Money Laundering ,
Board of Governors ,
Choke Point ,
Cryptocurrency ,
Digital Assets ,
Economic Action Plan ,
Executive Branch ,
FDIC ,
Federal Reserve ,
Financial Services Committee ,
Financial Services Industry ,
FinTech ,
GAO ,
NDAA ,
OCC ,
Secretary of the Treasury ,
Securities and Exchange Commission (SEC) ,
Trump Administration
With the 119th Congress set to take office in January, we’re here to keep you up to date on key developments in the fast-evolving landscape of crypto policy. As a reminder, each new Congress starts with a clean slate, meaning...more
11/18/2024
/ Anti-Money Laundering ,
CFTC ,
Cryptocurrency ,
Decentralized Finance (DeFi) ,
Digital Assets ,
Financial Markets ,
Financial Regulatory Reform ,
Financial Services Industry ,
FinCEN ,
FinTech ,
Regulatory Agenda ,
Securities and Exchange Commission (SEC) ,
Stablecoins
In a headline-grabbing action, the Securities and Exchange Commission (“SEC”) announced on February 9 that it had instituted and settled an enforcement action against Kraken, a large crypto trading platform, in which it...more