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Crypto Exchanges Federal Deposit Insurance Corporation

Troutman Pepper Locke

Troutman Pepper Locke Weekly Consumer Financial Services Newsletter – April 2025

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To keep you informed of recent activities, below are several of the most significant federal and state events that have influenced the Consumer Financial Services industry over the past week....more

K2 Integrity

Fiat Ramps Unlocked: Practical Tips For Banks And Crypto Firms

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Ask any centralized cryptocurrency firm to name one of their biggest priorities or challenges—and then count the number of times they mention bank partnerships. For crypto firms, the loss of, or failure to acquire, a bank...more

Seward & Kissel LLP

Vodka on the Rocks, Bon Voyage, and Hard to Contain

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Vodka maker Stoli Group USA files for chapter 11 bankruptcy | CBS News - Stoli Group’s US-based distributor unit filed for bankruptcy protection this week in the Northern District of Texas....more

DLA Piper

Blockchain and Digital Assets News and Trends - August 2024

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This monthly bulletin is designed to help companies identify important legal developments governing the use and acceptance of blockchain technology, smart contracts, and digital assets....more

Goodwin

Financial Institution Diversity Voluntary Self-Assessments: Due September 30

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Financial Institution Diversity Voluntary Self-Assessments: Due September 30 - On July 13, the FDIC issued a financial institution letter announcing that FDIC-supervised financial institutions are encouraged to...more

Seward & Kissel LLP

Once Bitten, Twice Shy, The Tax Man Cometh, Blocked Access, and the Bill Comes Due

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U.S. Crypto Exchange Bittrex Files for Bankruptcy in Delaware | CoinDesk - On Monday, Crypto exchange Bittrex filed for bankruptcy in the U.S. state of Delaware months after announcing it would wind down operations in the...more

Seward & Kissel LLP

Genesis of a Lawsuit, Head in a Vice, Not the First Bank Seized, and Talcing Settlement?

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Below is our initial take on recent bankruptcy-related developments: In a court filing on Wednesday, bankrupt crypto exchange FTX said that it wants to claw back nearly $4 billion in funds from similarly bankrupt Genesis...more

Epiq

How Will Bankruptcy Courts Shape Crypto Regulation?

Epiq on

Last year’s cryptocurrency market crash a/k/a “the crypto winter” did not cause trembles in the U.S. economy, but it caused enormous losses to its investors. The near collapse of this decentralized currency market resulted in...more

Orrick, Herrington & Sutcliffe LLP

FDIC orders entities to stop making fraudulent deposit insurance representations

On February 15, the FDIC sent letters to four entities demanding that they stop making false or misleading representations about FDIC deposit insurance. Letters were sent to a cryptocurrency exchange and to a nonbank...more

Poyner Spruill LLP

The Federal Reserve’s Rejection of SPDI Custodia Bank’s Applications

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On January 27, 2023, the Federal Reserve rejected Custodia’s August 2021 application to be a Federal Reserve member bank. On the same day, the Kansas City Federal Reserve denied Custodia’s October 2020 application for a...more

A&O Shearman

FSOC Report on Digital Assets: Mitigate Crypto Risks through Regulatory Oversight

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On October 3, 2022, as lawmakers in the United States continue to debate which agencies should regulate crypto-based activities, the Financial Stability Oversight Council (FSOC) released its Report on Digital Asset Financial...more

Cadwalader, Wickersham & Taft LLP

FDIC Continues Cease and Desist Sweep Regarding Deposit Insurance and Crypto

A couple of weeks ago, we reported on the FDIC and the Federal Reserve Board sending a cease and desist (“C&D”) letter to Voyager Capital to stop representing that customer funds were protected by deposit insurance. This past...more

Cadwalader, Wickersham & Taft LLP

FDIC Makes Clear That It Does Not Insure Crypto Exchanges

Last week, the Federal Deposit Insurance Corporation (“FDIC”) was part of two releases clarifying that only insured banks and thrifts enjoy FDIC insurance, notwithstanding what some non-banks may say in their marketing...more

Perkins Coie

Blockchain Week in Review - July 2020 #3

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US Developments - OCC Issues Interpretation that Banks Can Offer Crypto Custody Services - On July 22, 2020, the Office of the Comptroller of the Currency (OCC) issued an interpretive letter clarifying that national banks...more

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