The federal banking agencies continue to open the channels for regulated entities to engage in digital asset activities.
On May 7, 2025, the Office of the Comptroller of the Currency (OCC) published Interpretive Letter...more
5/12/2025
/ Banking Sector ,
Banks ,
Cryptocurrency ,
Custody ,
Digital Assets ,
Financial Institutions ,
Interpretive Letters ,
New Regulations ,
OCC ,
Outsourcing ,
Regulatory Requirements ,
Risk Management
FRB eases crypto restrictions on supervised entities in alignment with the new administration’s support for the digital asset industry....more
5/5/2025
/ Banking Sector ,
Cryptocurrency ,
Digital Assets ,
FDIC ,
Federal Reserve ,
Financial Regulatory Reform ,
FinTech ,
FRB ,
OCC ,
Regulatory Oversight ,
Regulatory Reform
The Staff noted that a stablecoin generally is not subject to SEC jurisdiction if it is not an investment and used solely for commercial activity....more
4/25/2025
/ Digital Assets ,
FinTech ,
Howey ,
Popular ,
Regulatory Oversight ,
Regulatory Requirements ,
Reves Test ,
Securities Act of 1933 ,
Securities and Exchange Commission (SEC) ,
Securities Exchange Act ,
Securities Regulation ,
Stablecoins
On April 10, 2025, the Securities and Exchange Commission’s (SEC’s) Division of Corporation Finance (the Staff) published a Statement on Offerings and Registrations of Securities in the Crypto Asset Markets (the Statement)....more
The Staff Statement provides clarity that Proof-of-Work crypto mining does not involve securities, reducing regulatory uncertainty and enforcement risks for miners....more
An executive order and related legislation centralizes Bitcoin and digital asset holdings across the federal government to optimize oversight and management of crypto as a US reserve asset.
On March 6, 2025, President...more
In a break from restrictive Biden-era policies, OCC-supervised banks may now engage in crypto without supervisory nonobjection, potentially opening new avenues for innovation....more
Stablecoin regulation is a top priority for lawmakers, and three recent proposals reflect differing perspectives on how to achieve regulatory clarity while balancing safety and innovation....more
The SEC’s move is part of a recent shift toward a less enforcement-centric approach that is set to reshape the regulatory framework for digital assets in the US....more
Commissioner Hester Peirce outlined 10 priorities for the Crypto Task Force, aiming for regulatory clarity while promoting innovation in digital asset markets....more
2/11/2025
/ Blockchain ,
Broker-Dealer ,
Cryptocurrency ,
Digital Assets ,
Enforcement Priorities ,
Exchange-Traded Products ,
FinTech ,
Investment Adviser ,
Popular ,
Regulatory Agenda ,
Securities and Exchange Commission (SEC) ,
Securities Regulation
The FDIC seeks to stick to its statutory mandate while reducing impediments to fintech, innovation, mergers, bank formation, and efficient supervision....more
With its pro-crypto stance and urgent posture, the executive order promises to make the US the “crypto capital of the planet.”
On January 23, 2025, President Trump issued a highly anticipated executive order on digital...more
1/28/2025
/ Blockchain ,
CFTC ,
Cryptocurrency ,
Digital Assets ,
Executive Orders ,
Federal Reserve ,
Financial Regulatory Reform ,
FinTech ,
Popular ,
Securities and Exchange Commission (SEC) ,
Stablecoins ,
Trump Administration
The CFPB’s proposal, its first attempt to regulate cryptocurrencies and stablecoins, is unlikely to survive the administration change....more
1/24/2025
/ Consumer Financial Products ,
Consumer Financial Protection Bureau (CFPB) ,
Cryptocurrency ,
Digital Assets ,
Electronic Fund Transfer Act ,
Financial Institutions ,
FinTech ,
Gaming ,
Online Gaming ,
Proposed Rules ,
Regulation E ,
Stablecoins
A Republican Congress and the incoming Trump administration may employ the CRA to quickly overturn recent rules that faced heavy criticism from the financial services industry....more
1/22/2025
/ Congressional Review Act ,
Consumer Financial Protection Bureau (CFPB) ,
Deregulation ,
Digital Assets ,
FDIC ,
Financial Regulatory Reform ,
Financial Services Industry ,
FinCEN ,
IRS ,
OCC ,
Open Banking ,
Trump Administration
With appropriate safeguards, distributed ledger technology may expand the use of non-cash assets as derivatives collateral, while mitigating certain market infrastructure inefficiencies....more
12/13/2024
/ Blockchain ,
Books & Records ,
CFTC ,
Collateral ,
Commodity Exchange Act (CEA) ,
Compliance ,
Derivatives ,
Digital Assets ,
Distributed Ledger Technology (DLT) ,
Information Reports ,
Tokenization
FIT21 would provide regulatory certainty for the US digital asset ecosystem, balancing support for innovation with consumer protection....more
5/30/2024
/ Blockchain ,
CFTC ,
Commodities ,
Consumer Protection Laws ,
Cryptocurrency ,
Decentralized Finance (DeFi) ,
Digital Assets ,
FinTech ,
Investment Contract ,
Non-Fungible Tokens (NFTs) ,
Pending Legislation ,
Rulemaking Process ,
Securities ,
Securities and Exchange Commission (SEC) ,
Stablecoins
The bipartisan bill seeks to foster innovation and promote US dollar dominance while protecting consumers and mitigating illicit finance risks.
On April 17, 2024, US Senators Cynthia Lummis from the Senate Banking...more
As federal regulation remains patchy, firms may want to consider a New York state charter as a potential avenue to expand digital asset offerings in a compliant manner.
On March 22, 2024, WisdomTree, Inc., a global asset...more
4/5/2024
/ Custody ,
Digital Assets ,
Exemptions ,
Fiduciary ,
FinTech ,
Investment Management ,
Investment Trust Companies ,
Market Participants ,
Money Transmitter ,
NYDFS ,
OCC ,
Stablecoins ,
State Charters ,
Subsidiaries
A proposed rule would increase Treasury’s insight into non-US crypto mixing transactions to combat illicit activities by malicious actors.
On October 19, 2023, the US Department of the Treasury’s Financial Crimes...more
11/3/2023
/ Anti-Money Laundering ,
Blockchain ,
Cryptocurrency ,
Digital Assets ,
FinCEN ,
Market Participants ,
Money Laundering ,
NPRM ,
Patriot Act ,
Regulatory Oversight ,
Theft ,
U.S. Treasury
Licensees, exchanges, and other market participants should prepare to comply with the listing, disclosure, capital, and other requirements that the new law imposes.
On October 13, 2023, California Governor Gavin Newsom...more
11/1/2023
/ Administrative Authority ,
Best Execution ,
Crypto Exchanges ,
Cryptoassets ,
Cryptocurrency ,
Department of Financial Protection and Innovation (DFPI) ,
Digital Assets ,
Financial Services Industry ,
Governor Newsom ,
Listing Rules ,
Market Participants ,
New Legislation ,
Regulatory Requirements ,
Stablecoins
The new standard aims to improve accounting treatment of certain digital assets under GAAP and may pave the way for increased institutional adoption.
On September 6, 2023, the Financial Accounting Standards Board (FASB)...more
9/27/2023
/ Accounting ,
Accounting Standards ,
Asset Tokens ,
Cryptoassets ,
Digital Assets ,
Disclosure Requirements ,
Fair Market Value ,
FASB ,
GAAP ,
Non-Fungible Tokens (NFTs) ,
Proposed Regulation
In its second action involving NFTs, the SEC targets an offering tied to fundraising and promises of future value.
On September 13, 2023, the Securities and Exchange Commission (SEC) issued a cease-and-desist order (the...more
A new program addresses innovative banking activities such as bank-fintech partnerships and digital assets while reinforcing guardrails around stablecoin activity.
On August 8, 2023, the Board of Governors of the Federal...more
8/16/2023
/ Banking Sector ,
Banks ,
Compliance ,
Digital Assets ,
Enforcement Programs ,
Federal Reserve ,
Financial Institutions ,
FinTech ,
FRB ,
Risk-Based Approaches ,
Stablecoins
A bifurcated decision in a highly anticipated digital assets enforcement action may not provide the clarity that market participants want or need.
On July 13, 2023, Judge Analisa Torres of the US District Court for the...more
7/26/2023
/ Aiding and Abetting ,
Civil Monetary Penalty ,
Crypto Exchanges ,
Cryptocurrency ,
Digital Assets ,
Digital Platforms ,
Due Process ,
Enforcement Actions ,
Fair Notice ,
Institutional Investors ,
Investment Platforms ,
Personal Liability ,
Ripple ,
Securities Act of 1933 ,
Securities and Exchange Commission (SEC) ,
Securities Regulation ,
Securities Violations ,
Token Sales ,
Unregistered Securities
The proposed bill sets forth a comprehensive framework for the digital asset ecosystem by bridging regulatory gaps, promoting innovation, and protecting consumers.
On June 2, 2023, Patrick McHenry, Chairman of the House...more
6/30/2023
/ Advisory Committee ,
Anti-Fraud Provisions ,
Anti-Manipulation Rule ,
CFTC ,
Commodity Exchange Act (CEA) ,
Consumer Protection Laws ,
Cryptoassets ,
Cryptocurrency ,
Decentralized Finance (DeFi) ,
Digital Assets ,
Disclosure Requirements ,
Environmental Social & Governance (ESG) ,
Investment Contract ,
Non-Fungible Tokens (NFTs) ,
Proposed Legislation ,
Registration Requirement ,
Regulatory Authority ,
Securities and Exchange Commission (SEC) ,
Stablecoins