From the Editor’s Desk - Compliance Week’s Insights and Reflections for September and into October 2025
On October 14, the DOJ announced the unsealing of an indictment charging a Cambodian national as the leader of a transnational criminal organization (TCO) that allegedly operated “forced-labor scam compounds” in Cambodia....more
U.S. Fintechs, Banks, States Launch Stablecoin and Bitcoin Payment Initiatives - A U.S. fintech company, Brex, recently announced plans to integrate stablecoins into its B2B payments platform. According to a company blog...more
There is no doubt about it: crypto assets are gaining acceptance in the mainstream in the United States. Congress has passed the GENIUS Act, calling for a comprehensive regulatory framework for stablecoins. And the Securities...more
As the proliferation of digital assets, including cryptocurrencies, stablecoins, and tokenized securities, becomes increasingly mainstream in global finance, the legal frameworks that govern property rights over such digital...more
In this episode of ‘The Editor’s Desk’ podcast, hosts Tom Fox and Aaron Nicodemus delve into key compliance issues featured in Compliance Week. Tom and Aaron discuss top stories from Compliance Week in September, and provide...more
On September 17, the New York State Department of Financial Services (DFS) issued new guidance on the use of blockchain analytics tools. This new guidance builds upon the blockchain guidance issued by DFS in 2022, and applies...more
US Digital Asset and Fintech Companies Announce Stablecoin Initiatives - According to recent reports, Tether, the issuer of the USDT stablecoin, has announced plans to launch USAT, a stablecoin that would be regulated in...more
Stablecoin Launches and Integrations, Crypto Acquisitions Announced - A major self-custodial crypto wallet provider, MetaMask, recently announced the launch of its “native stablecoin,” MetaMask USD ($mUSD). According to a...more
The Federal Court of Appeal has dismissed ASIC’s appeal and upheld the primary judge’s decision that Finder Wallet’s (Finder) product “Finder Earn” was not a “debenture” and they did not have to hold an Australian Financial...more
In the expanding digital economy, tokenisation is set to transform how we interact with assets by creating digital representations of real-world assets on distributed ledgers. This promises to enhance efficiency, transparency...more
On August 19, Fed Governor Christopher Waller delivered remarks at a blockchain symposium, emphasizing the ongoing evolution of payment systems driven by advances in computing, data processing, and distributed networks....more
Did you know that U.S. federal regulators issued approximately 173 public enforcement actions against financial services providers in 2024? Over 35% of those enforcement actions resulted in some form of monetary penalty,...more
On June 30, 2025, Connecticut Governor Ned Lamont signed Public Act No. 25-66, enacting broad revisions to Connecticut’s money transmission statutes. The new law, effective October 1, 2025, updates definitions, expands...more
On June 30, the governor of Connecticut signed into law HB 7042 to amend various provisions to its money transmission statutes, state payments and investments in virtual currency, and minors’ money sharing application...more
On June 4, 2024, Connecticut Governor Ned Lamont signed Senate Bill 6990 into law, making significant changes to the state’s asset seizure and forfeiture statutes by expressly including virtual currency and digital wallets as...more
As Republicans in the U.S. Senate now consider the reconciliation bill, they will need to consider what tax provisions contained in the One Big Beautiful Bill (OBBB), passed by the U.S. House of Representatives on May 22,...more
President Trump has signed a resolution nullifying the rule implementing the CFPB’s power to supervise large nonbank financial services providers of general-use digital consumer payment applications....more
Fintech Companies Announce Crypto-Focused Acquisitions and Partnerships - A U.S.-based crypto infrastructure solutions provider announced in a recent press release that it has signed a definitive agreement to acquire a...more
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
The federal government is putting paper checks on notice. In an Executive Order (EO) signed on March 25, President Trump directed the Department of the Treasury to stop issuing — and accepting — paper checks for nearly all...more
Among other significant rulemakings that the Consumer Financial Protection Bureau (CFPB) finalized in the waning days of the Biden Administration were 1) an overdraft fees final rule that applies to banks and credit unions...more
Last week, the Bank of Israel published a preliminary design of the central bank’s Digital Shekel system. In a detailed document, holding more than 100 pages, the Bank of Israel presents guiding principles and a work plan for...more
Following the FCA’s January 2025 response to the government’s request for ideas to support its growth mission for the UK economy, the FCA has now published an engagement paper seeking feedback on the different ways that it...more
Potential issues identified from stakeholder feedback to the FCA and PSR call for information include insufficient competition between digital wallets and between payment systems within digital wallets. The majority of...more
The UK Financial Conduct Authority (FCA) and the UK Payment Systems Regulator (PSR) have issued a joint feedback statement on the usage and impact of big tech and digital wallets (FS25/1). The feedback statement was...more