News & Analysis as of

Cryptocurrency Regulatory Reform Banking Sector

BakerHostetler

US Financial Regulators Chart New Path Forward for the Crypto Industry

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On April 24, the Federal Reserve withdrew its prior guidance for banks related to their crypto-asset and dollar token activities and also announced related changes to its expectations for these activities....more

Amundsen Davis LLC

Banking Regulators Signal Change in Cryptocurrency Approach

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The current administration has indicated an intention for the U.S. to be a leader in the cryptocurrency industry, as discussed in the recent webcast Bank Regulatory Agency Update Under DOGE: What Every Financial Institution...more

Davis Wright Tremaine LLP

OCC Reverts to Prior Merger Rules

The Office of the Comptroller of the Currency (OCC) has issued an interim final rule that restores streamlined and expedited regulatory procedures to review applications under the Bank Merger Act for business combinations...more

DLA Piper

Bank Regulatory News and Trends - May 2025

DLA Piper on

This regular publication from DLA Piper focuses on helping banking and financial services clients navigate the ever-changing regulatory landscape....more

K&L Gates LLP

Federal Banking Regulators Adopt a Permissive Stance on Cryptocurrency

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The federal banking regulators have each recently adopted a more permissive approach to the regulation of cryptocurrency activities within the banking sector. The Office of the Comptroller of the Currency (OCC), the Federal...more

Latham & Watkins LLP

FRB Rescinds Previous Guidance Regarding Crypto Activities in the Banking Sector

Latham & Watkins LLP on

FRB eases crypto restrictions on supervised entities in alignment with the new administration’s support for the digital asset industry....more

Lowenstein Sandler LLP

Crypto Brief - Lowenstein Crypto Newsletter - May 1, 2025

Lowenstein Crypto advises leading digital asset and cryptocurrency projects, exchanges, and trading firms. Our practice covers regulatory advice, transactions and structuring advice, investigations, and adversarial matters...more

Nutter McClennen & Fish LLP

Nutter Bank Report: April 2025

The Federal Reserve has announced multiple decisions to rescind existing requirements for crypto-asset activities. The April 24 announcement included the rescission of a 2022 supervisory letter that required state member...more

Goodwin

How Financial Regulation Is Shifting Under Trump

Goodwin on

Hi, thanks so much for joining us. I’m Samantha Kirby, chair of financial services here at Goodwin, and today, we’re going to talk to you about what we’re watching with respect to the bank regulatory agencies and the Consumer...more

Orrick, Herrington & Sutcliffe LLP

Treasury’s Bessent outlines vision for community banks

On April 9, the Secretary of the Treasury, Scott Bessent, delivered a speech outlining the Trump Administration’s financial policy goals of empowering community banks, moving away from prioritizing large financial...more

Smith Anderson

From “Debanking” to Deregulation: A Turning Point for Reputational Risk

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Federal banking regulators are rapidly rewriting the playbook. In the early months of the second Trump administration, sweeping shifts in policy and supervisory priorities are already taking shape. One of the most...more

King & Spalding

OCC Clarifies Crypto-Asset Guidance

King & Spalding on

The Office of the Comptroller of the Currency (“OCC”) and the Federal Deposit Insurance Corporation (“FDIC”) have both recently taken actions and issued statements that indicate a more permissive bank regulatory approach to...more

Cadwalader, Wickersham & Taft LLP

New Regulatory Priorities Spring Into Focus, April 2025 - Stablecoin Bills Moving to the Floor of the Senate and the House

As of Wednesday, stablecoin bills in the House and the Senate have been voted out of committee and moved onto the floor of each house for a full vote....more

Jones Day

FDIC Rescinds Prior Notification Requirement for Banks' Permissible Crypto Activities

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The FDIC has rescinded an earlier Financial Institution Letter establishing a prior notification requirement for FDIC-supervised institutions that wish to engage in specified crypto-related activities and has clarified that...more

Cooley LLP

FDIC: Banks Can Engage in Crypto-Related Activities Without Prior Notice

Cooley LLP on

On March 28, 2025, the Federal Deposit Insurance Corporation (FDIC) clarified that FDIC-supervised institutions do not need to provide notice or obtain approval from the FDIC prior to engaging in crypto-related activities....more

Latham & Watkins LLP

FDIC Removes Roadblocks to Crypto Activities in the Banking Sector

Latham & Watkins LLP on

New FDIC guidance permits crypto activities by supervised institutions without prior approval, emphasizing risk management and compliance with applicable laws and regulations....more

Mayer Brown

Credibly Challenged Podcast: Interview With Mark Quandahl, Former Director of the Nebraska Department of Banking and Finance

Mayer Brown on

Joe Castelluccio and Matt Bisanz interview Mark Quandahl, the former Director of the Nebraska Department of Banking and Finance. They discuss his role in the implementation of the Nebraska Financial Innovation Act, including...more

Orrick, Herrington & Sutcliffe LLP

Wyoming enacts law for converting special purpose depository institutions to public trust companies

On March 17, Wyoming enacted SF 95 which addresses the conversion of special purpose depository institutions into public trust companies. The Act introduces a new section which outlines that, as part of a conversion...more

Sheppard Mullin Richter & Hampton LLP

FDIC Aims to Eliminate Reputational Risk from Supervision

On March 24, acting FDIC Chairman Travis Hill informed Congress that the agency is preparing to eliminate the use of “reputation risk” as a basis for supervisory criticism. In a letter to Rep. Dan Meuser (R-Pa.), Hill...more

Cadwalader, Wickersham & Taft LLP

Regulation in Flux, March 2025 - OCC Gives Green Light to National Bank Fintech Business Model

On March 17th, the Office of the Comptroller of the Currency (“OCC”) conditionally approved the application for the newly renamed SmartBiz Bank N.A. (“SmartBiz Bank”) to change its business model in support of its fintech...more

Ballard Spahr LLP

Crypto Clarity: OCC’s New Guidelines Pave the Way for Banking Innovation

Ballard Spahr LLP on

On March 7, 2025, the Office of the Comptroller of the Currency (“OCC”) released Interpretive Letter 1183, marking a pivotal change in regulatory guidance for national banks and federal savings associations engaging in...more

Mayer Brown

OCC Streamlines Process for Cryptocurrency Activities by Banks It Regulates

Mayer Brown on

On March 7, 2025, the Office of the Comptroller of the Currency (OCC) issued guidance on national bank and federal savings association participation in certain cryptocurrency activities (“IL 1183”). This guidance is the...more

Davis Wright Tremaine LLP

Senate Moves To End "Operation Choke Point" De-Banking With New Bill—But More Protections Are Needed

Following a key hearing in February, Senate Banking Committee Chairman Tim Scott (R-SC) is seeking to protect financial freedom with the introduction of the Financial Integrity and Regulation Management (FIRM) Act. The...more

Davis Wright Tremaine LLP

OCC Rescinds Required Supervisory "Non-Objection" Preclearance for Permissible Crypto-Related Activities

The OCC has reiterated that certain crypto-related activities—crypto-asset custody, distributed ledger, and stablecoin activities—previously determined to be permissible remain so. The OCC has also rescinded a Biden-era...more

K2 Integrity

SAB 122: Implications For Bank Crypto Custody Innovation

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On 23 January 2025, the Securities and Exchange Commission (SEC) repealed the infamous Staff Accounting Bulletin (SAB) 121 with the publication of the already much-lauded SAB 122. With President Donald Trump taking office on...more

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