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Cryptoassets

Hogan Lovells

Cryptoassets: OFSI’s Sanctions Threat Assessment

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The UK has a number of sanctions that can be engaged by crypto-related activities. Most notably, its asset freeze restrictions prohibit making funds or economic resources available to, or dealing with the funds or economic...more

Jones Day

OCC Confirms Riskless Principal Transactions in Crypto Assets by Banks Are Permissible

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On December 9, 2025, the OCC issued Interpretive Letter #1188 to confirm that national banks may engage in riskless principal crypto-asset transactions, including transactions in assets that are not securities. Riskless...more

Foodman CPAs & Advisors

CRS 3.0, CARF, and FATCA: Cross-Border Reporting Risks for 2025–2026

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The transition to CRS 3.0 and the implementation of CARF for digital assets are redefining how cross-border reporting is examined. Financial institutions remain central to FATCA and CRS reporting, but CARF expands the...more

Lowenstein Sandler LLP

Crypto Brief - Lowenstein Crypto Newsletter - December 11, 2025

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On Dec. 8, Caroline D. Pham, acting chair of the Commodities Futures Trading Commission (CFTC), announced a digital assets pilot program enabling certain digital assets to be used as collateral in derivatives markets. Pham...more

McGuireWoods LLP

FINRA’s 2026 Annual Regulatory Oversight Report: Same Priorities, New Focus on AI and Cybersecurity

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SERC’ling Up is your resource for staying ahead in today’s fast-evolving financial landscape. This newsletter delivers perspectives on the latest enforcement trends, regulatory updates and high-stakes developments affecting...more

Foley & Lardner LLP

OCC Issues Another Crypto-Friendly Interpretive Letter: Permissibility of Riskless Principal Crypto-Assets Transactions

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On December 9, 2025, the Office of the Comptroller of the Currency (OCC) issued Interpretive Letter 1188 (IL 1188), confirming that a national bank is permitted, as part of the business of banking, to engage in riskless...more

Seward & Kissel LLP

Lowering the Stakes on Exchange Traded Products: IRS Guidance Safe Harbors Staking Activity in ETPs

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The Internal Revenue Service published Revenue Procedure 2025-31 (the “Rev. Proc.”), granting safe harbor relief (the “Safe Harbor”) to exchange traded products (“ETPs”) seeking to engage in staking activities on November 10,...more

Herbert Smith Freehills Kramer

Still in motion – Revisiting our Global FSR Outlook 2025

The 2025 edition of our annual flagship publication, Global FSR Outlook, took as its theme 'perpetual motion'. This seemed to aptly describe how the financial services community felt as we all looked out on the ever shifting...more

Haynes Boone

Financial Regulatory Roundup December 2025

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We’re pleased to share the December edition of our Financial Regulatory Roundup Newsletter, highlighting key developments shaping the financial regulatory landscape....more

DLA Piper

UK Autumn Budget 2025 – Finance

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Tax rates (including withholding tax rates) and thresholds – as part of an anticipated series of tax rises for individuals, and with a view to shifting some of the burden of taxation from employment to passive income, the...more

DLA Piper

UK Autumn Budget 2025 – Corporates

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Corporation Tax – rates remain unchanged – 25% main rate (19% for profits up to GBP50,000 and a sliding scale between GBP50,000 and GBP250,000)....more

DLA Piper

UK Autumn Budget 2025 – Investment Funds

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The main headline for investment managers is that the carried interest reforms have been confirmed, with the Finance Bill 2025-26 set to be published next week. While some changes have been made to the draft legislation...more

A&O Shearman

Property (Digital Assets etc) Act 2025

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The Property (Digital Assets etc) Bill has received royal assent and entered the statute book as the Property (Digital Assets etc) Act 2025. The Act gives effect to recommendations of the Law Commission confirming in statute...more

Davis Wright Tremaine LLP

CFTC Issues Guidance on Tokenized Collateral and Other Crypto Sprint Developments

In furtherance of its Crypto Sprint initiative and its implementation of the recommendations in the White House digital asset report ("White House Report") released over the summer, on December 8, 2025, the CFTC issued new...more

A&O Shearman

ESMA Statement On Implementation Of MiCAR Data Standards And Format Requirements

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The European Securities Markets Authority (ESMA) has issued a statement to support the smooth implementation of the regulation on markets in cryptoassets (MiCAR) data standards and format requirements. The statement provides...more

Goodwin

The Global Push to Open Private Markets to Mainstream Investors

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Rules are changing in the UK and EU, but the biggest test is the US 401(k) system — home to more than $9 trillion and the world’s tightest fiduciary constraints....more

Troutman Pepper Locke

Troutman Pepper Locke Weekly Consumer Financial Services Newsletter – December 2025 # 2

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On December 5, the Office of the Comptroller of the Currency (OCC) and Federal Deposit Insurance Corporation (FDIC) jointly rescinded the 2013 Interagency Guidance on Leveraged Lending and the 2014 FAQs, citing that the...more

Walkers

EU CryptoReg Roundup: November 2025

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Welcome to our EU crypto update - a roundup of key Irish and EU legislative and regulatory developments shaping the crypto-asset sector....more

Troutman Pepper Locke

From “Operation Chokepoint 2.0” to Fair Banking: What the House Report Alleges and How the OCC Responded

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On November 25, the House Financial Services Committee majority staff published Operation Chokepoint 2.0: Biden’s Debanking of Digital Assets, a detailed account of how, in the Committee’s view, federal prudential regulators...more

Latham & Watkins LLP

SEC Staff Issues No-Action Letter for Fuse Crypto Token

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The NAL provides incremental clarity for innovators in the digital asset space and reduces legal risk for similarly structured rewards tokens....more

Morrison & Foerster LLP

Cross-Border Developments: A Comparison of UK and U.S. Regulatory Frameworks for Stablecoins

Stablecoins—digital tokens designed to maintain a stable value by being pegged to fiat currencies—have emerged as a critical bridge between traditional finance and the digital asset ecosystem. Both the United Kingdom and the...more

Lowenstein Sandler LLP

Crypto Brief - Lowenstein Crypto Newsletter - December 4, 2025

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On Dec. 2, the Acting Chairman of the Federal Deposit Insurance Company (FDIC), Travis Hill, gave a statement before the House Committee on Financial Services. On the topic of digital assets, Hill mentioned that “the FDIC has...more

Hogan Lovells

The Property (Digital Assets etc) Act 2025 Comes Into Force

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On 2 December 2025, the Property (Digital Assets etc) Act 2025 received Royal Assent and came into force, completing its passage through Parliament. The Act confirms the pre-established common law position that a thing is...more

ASKramer Law

Crypto Part II: Examining the Taxation of Digital Assets

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Digital assets are bought and sold globally, 24/7, can be divided into smaller and smaller ownership units, and can be transferred between buyers and sellers at low cost and with lightning speed around the world in a global...more

A&O Shearman

UK FCA Consults on Regulatory Fees and Levies Policy Proposals for 2026/27

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The UK Financial Conduct Authority (FCA) has published consultation paper CP25/33 outlining its proposed changes to the fees and levies framework ahead of the 2026/27 fee cycle. The consultation paper is structured as...more

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