News & Analysis as of

Cryptocurrency Risk Management

Sheppard Mullin Richter & Hampton LLP

OCC Confirms Banks Authority to Offer Crypto Custody and Execution Services

On May 7, the OCC issued Interpretive Letter 1184, reaffirming that national banks and federal savings associations may provide cryptocurrency custody and execution services, including through sub-custodians. The OCC...more

Kelley Drye & Warren LLP

State Attorneys General Share Consumer Protection Viewpoints in Chicago

Twice a year, state attorneys general consumer protection staff gather to discuss consumer protection issues. Our state attorney general team was at the public sessions, attending and presenting on issues important to AGs. We...more

Eversheds Sutherland (US) LLP

The CFTC issues requests for comments on 24/7 trading and perpetual derivatives contracts

On April 21, 2025, the Commodity Futures Trading Commission (CFTC) Divisions of Market Oversight, Clearing and Risk, and Market Participants issued two Requests for Comment (RFCs) on 24/7 trading and clearing of derivatives...more

Patomak Global Partners

Key Takeaways from SEC Crypto Task Force Custody Roundtable

Situation Overview: The SEC’s Crypto Task Force is advancing its exploration of regulatory frameworks for digital asset custody. What: The SEC hosted its third roundtable, Know Your Custodian, focusing on challenges and...more

Latham & Watkins LLP

OCC Affirms Banks Can Engage in Crypto Custody and Execution Activities

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The federal banking agencies continue to open the channels for regulated entities to engage in digital asset activities. On May 7, 2025, the Office of the Comptroller of the Currency (OCC) published Interpretive Letter...more

McGuireWoods LLP

Banks May Provide Cryptocurrency Transaction and Custody Services, but OCC Has Yet to Provide Clear Compliance Requirements

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On May 7, 2025, the Office of the Comptroller of the Currency (“OCC”) issued a follow up to its July 2020 Interpretative Letter 1170, which allowed national banks to provide cryptocurrency custody services to their customers....more

Skadden, Arps, Slate, Meagher & Flom LLP

Cybersecurity Trends in the Digital Asset Space

After years of regulatory uncertainty, the Trump administration has signaled a new approach to digital assets, including by establishing a working group focused on digital assets and nominating crypto-friendly chairs to the...more

A&O Shearman

FSB Chair Letter to G20 Finance Ministers

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The Financial Stability Board (FSB) has published a letter, along with a press release and webpage, from its Chair, Klaas Knot, to G20 finance ministers and central bank governors ahead of their meeting on 23-24 April. The...more

Orrick, Herrington & Sutcliffe LLP

Senate committee seeks information on DOGE’s impact at FDIC

On April 24, four members of the U.S. Senate Committee on Banking, Housing, and Urban Affairs sent a letter to the FDIC requesting information regarding DOGE’s involvement at the FDIC. The senators are seeking information...more

Conyers

Regulatory Update: Cayman Islands VASP Licensing Regime Now in Effect

Conyers on

The Cayman Islands Government has taken a significant step in the regulation of virtual asset service providers (VASPs) with the commencement of the licensing regime under the Virtual Asset (Service Providers) Act (as...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

Goodwin

ESMA’s Recent Statement on Crypto-Assets and Financial Stability

Goodwin on

On April 8, 2025, Natasha Cazenave, executive director of the European Securities and Markets Authority (ESMA), addressed the European Parliament’s Economic and Monetary Affairs Committee, offering key insights into the...more

Holland & Knight LLP

Sophisticated Crypto Theft Targeting High-Net-Worth Individuals

Holland & Knight LLP on

A recent court case has unveiled a new level of sophistication in attacks targeting high-net-worth cryptocurrency holders. In a meticulously orchestrated scheme, hackers managed to steal more than $40 million in bitcoin from...more

Lowenstein Sandler LLP

SEC Clarifies Stance on Disclosures Relating to Crypto Assets

Lowenstein Sandler LLP on

The Guidance provides the Division’s views regarding certain disclosure requirements under Regulation S-K, specifically with respect to disclosures contained within Form S-1 (registration statements), Form 10-K (reporting...more

Hogan Lovells

UK PRA Business Plan 2025/26: Priorities evolving towards increasing emphasis on competitiveness and growth

Hogan Lovells on

The PRA has published its Business Plan for 2025/26, setting out the workplan for each of its strategic priorities and strategy to advance its primary and secondary objectives. The PRA comments that, alongside its continual...more

Mayer Brown

Eye on Economic Crime: Key takeaways from the Serious Fraud Office’s Business Plan 2025-26

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The Serious Fraud Office (“SFO”) has released its Business Plan for 2025-26, outlining significant changes and strategic initiatives aimed at combatting serious fraud, bribery, and corruption.  The Plan is framed by the SFO...more

Falcon Rappaport & Berkman LLP

SEC’s New Staff Statement on Crypto Offerings and Registrations: What It Means for the Digital Asset Industry

On April 10, 2025, the SEC’s Division of Corporation Finance issued a staff statement (the “Statement”) titled “Offerings and Registrations of Securities in the Crypto Asset Markets.” This development underscores the...more

ArentFox Schiff

SEC Commissioner Crenshaw Critiques Stable Coin Analysis: Understates the Risks

ArentFox Schiff on

On April 4, US Securities and Exchange Commission (SEC) Commissioner Caroline A. Crenshaw, the sole Democrat serving as a Commissioner, issued a statement critiquing the Division of Corporation Finance’s analysis in its...more

Mayer Brown Free Writings + Perspectives

Staff Stablecoin Statement

On April 4, 2025, the Division of Corporation Finance (the “Division”) of the U.S. Securities and Exchange Commission (the “Commission”) published a statement (the “Statement”) outlining its position on stablecoins, a...more

Braumiller Law Group, PLLC

Hot Topics in International Trade - April 2025 - Security for New Bitcoin Strategic Reserve

New Bitcoin Strategic Reserve: On March 7, 2025, the White House hosted a Digital Assets Summit to celebrate the creation of a Bitcoin Strategic Reserve and a Digital Assets Stockpile by an Executive Order titled,...more

Cadwalader, Wickersham & Taft LLP

New Regulatory Priorities Spring Into Focus, April 2025 - Business As Usual for Digital Asset Derivatives – CFTC Advisories...

Friday, March 27, 2025, the US Commodity Futures Trading Commission (CFTC) formally withdrew two crypto-related staff advisories, Staff Advisory No. 18-14 (advisory with respect to virtual currency derivative product...more

Sheppard Mullin Richter & Hampton LLP

FDIC Updates Crypto Guidance, Removes Pre-Approval Requirement for Banks

On March 28, the FDIC issued updated guidance clarifying the process for FDIC-supervised institutions to engage in crypto-related activities. The guidance rescinds and replaces prior instructions issued in 2022 and makes...more

Orrick, Herrington & Sutcliffe LLP

FDIC no longer requires notification of crypto-related activities

On March 28, the FDIC announced new guidance allowing FDIC-supervised institutions to engage in permissible crypto-related activities without prior approval. This update, outlined in FIL-7-2025, rescinded the previous...more

Paul Hastings LLP

Anti-Money Laundering Enforcement Risk Still Remains for Virtual Asset Services Providers

Paul Hastings LLP on

Despite the Trump administration’s generally favorable stance toward cryptocurrency and blockchain innovation, virtual asset services providers (VASPs) must remain vigilant in complying with anti-money laundering (AML)...more

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