News & Analysis as of

Blockchain Government Accountability Office

Orrick, Herrington & Sutcliffe LLP

GAO pens letter to OCC’s Hood on outstanding recommendations

On May 15, the GAO penned a letter to the Acting Comptroller of the Currency, Rodney E. Hood, highlighting areas it believes warrant the OCC’s focus. First, the GAO recommended that the OCC establish policies and procedures...more

Orrick, Herrington & Sutcliffe LLP

GAO urges Fed to address outstanding recommendations

On June 3, GAO released a letter addressed to Fed Chair, Jerome Powell, to provide an update on the Fed's implementation of past GAO recommendations. As of May, GAO noted 13 open recommendations under the Fed. The Fed...more

Orrick, Herrington & Sutcliffe LLP

GAO calls for the FDIC to address outstanding recommendations

On April 30, GAO sent a letter to the FDIC on its outstanding recommendations, emphasizing the importance of two priority recommendations, which pertained to blockchain technology and fintech. Regarding blockchain technology,...more

Orrick, Herrington & Sutcliffe LLP

GAO calls for enhanced oversite of blockchain, alternative data

On August 8, the U.S. Government Accountability Office (GAO) released letters sent to the OCC, SEC, FDIC and the Fed to provide an update on GAO’s “priority open recommendations” for each regulator. Priority open...more

BakerHostetler

FedNow Instant Payments Service Launches; GAO Recommends Oversight of Crypto Assets; SEC, CFTC, DOJ Continue Crypto Enforcement;...

BakerHostetler on

U.S. Central Bank Launches Instant Payment Service - A recent press release by the U.S. central bank announced that “its new system for instant payments, the FedNow® Service, is now live.” According to the press release,...more

Spilman Thomas & Battle, PLLC

Decoded: Technology Law Insights, Volume 2, Issue 18

El Salvador Buys 200 Bitcoins as the Digital Currency Becomes Legal Tender - "El Salvador became the first country to adopt bitcoin as a national currency, kicking off a radical monetary experiment that could pose risks to...more

Ballard Spahr LLP

Trade-Based Money Laundering: GAO Report Stresses Enforcement Challenges

Ballard Spahr LLP on

On January 29, 2020, the U.S. Government Accountability Office (GAO) publicly released the results of a study which the GAO conducted on trade-based money laundering, or TBML, entitled “Countering Illicit Finance and Trade:...more

Kilpatrick

Senate Banking Committee Holds Fintech Hearing

Kilpatrick on

The Senate Committee on Banking, Housing, and Urban Affairs held a hearing entitled “Examining the Fintech Landscape” on September 12, 2017. The witnesses were: Lawrance Evans, Director, Financial Markets, U.S. Government...more

Perkins Coie

Blockchain Week in Review – April 2017 #3

Perkins Coie on

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

Poyner Spruill LLP

What is Blockchain? Why Does It Matter? Observations As North Carolina’s Virtual Currency Legislation Goes Into Effect

Poyner Spruill LLP on

J. K. Rowling’s world of Harry Potter included an array of amazing artifacts; our personal favorites were the books and pictures that changed themselves. Two decades later, a world of Kindles and iPads echoes the wonders of...more

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