The Federal Reserve Board ("Board") softened its stance on regulation of crypto activity by banking organizations by rescinding supervisory letters that created hurdles for crypto-asset activities and by joining the Office of...more
4/28/2025
/ Banks ,
Cryptocurrency ,
Digital Assets ,
FDIC ,
Federal Reserve ,
Financial Institutions ,
FinTech ,
Investment ,
New Guidance ,
OCC ,
Regulatory Agencies ,
Regulatory Reform
As Congress moves to enact comprehensive stablecoin legislation under the Trump administration, both the Senate and the House of Representatives have updated their respective payment stablecoin bills. Our recent Commentary...more
3/18/2025
/ Anti-Money Laundering ,
Bank Secrecy Act ,
Digital Assets ,
Financial Institutions ,
Financial Regulatory Reform ,
Financial Services Committee ,
Financial Services Industry ,
Financial Transactions ,
FinTech ,
Payment Systems ,
Proposed Legislation ,
Regulatory Agenda ,
Regulatory Requirements ,
Stablecoins ,
U.S. Treasury
President Trump's recent executive order "Strengthening American Leadership in Digital Financial Technology" promoted the development of dollar-backed stablecoins as official U.S. policy. To facilitate this policy, Congress...more
3/3/2025
/ Cryptocurrency ,
Digital Assets ,
Federal Reserve ,
Financial Institutions ,
Financial Regulatory Reform ,
FinTech ,
OCC ,
Payment Systems ,
Proposed Legislation ,
Regulatory Agenda ,
Stablecoins ,
Trump Administration
The United States lacks a regulatory framework geared toward digital assets. This raises consumer protection concerns, causes regulatory turf battles and duplicative enforcement actions, impedes innovation, and puts the...more
The Situation: On September 17, 2024, the Federal Deposit Insurance Corporation ("FDIC") approved a proposed rule ("the Proposal") that would establish new recordkeeping requirements for FDIC-insured depository institutions...more
On November 7, 2023, the Consumer Financial Protection Bureau ("CFPB") issued a proposed rule that would grant it supervisory authority over major nonbank technology companies in the consumer digital payments space....more
11/16/2023
/ Consumer Financial Products ,
Consumer Financial Protection Bureau (CFPB) ,
Credit Cards ,
Credit Reports ,
Digital Wallets ,
Electronic Payment Transactions ,
Financial Institutions ,
Financial Regulatory Reform ,
Financial Services Industry ,
FinTech ,
Mortgage Lenders ,
Nonbank Firms ,
Peer-to-Peer ,
Proposed Rules ,
Regulatory Agencies ,
Regulatory Agenda ,
Regulatory Authority
On Monday, April 25, 2022, the Consumer Financial Protection Bureau ("CFPB") issued a press release announcing its intent to utilize a "dormant authority" under the Dodd-Frank Act to examine nonbank "'fintechs'" that the...more
The interagency "policy sprints" are designed to give banks guidance on how to navigate crypto-assets moving forward.
On November 23, 2021, the Board of Governors of the Federal Reserve System, Federal Deposit Insurance...more
The Situation: Non-fungible tokens are an emerging digital asset class that present a unique set of commercial, regulatory, and other legal considerations.
The Result: The current U.S. regulatory and legal framework is...more
5/14/2021
/ Art ,
Asset Class ,
Blockchain ,
Cryptocurrency ,
Digital Assets ,
FinCEN ,
FinTech ,
Intellectual Property Protection ,
Non-Fungible Tokens (NFTs) ,
Online Marketplace ,
Virtual Currency