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Ankura

An Update on the CSBS Money Transmission Modernization Act (MTMA)

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The financial landscape is rapidly evolving, with digital payment solutions becoming increasingly integral to both consumers and businesses. Amidst this shift, the Money Transmission Modernization Act (MTMA) emerged as a...more

A&O Shearman

BoE speech on the digitalisation of money and assets: proposed stablecoin regulatory framework

A&O Shearman on

The Bank of England (BoE) has published a speech by Sarah Breeden, Deputy Governor for Financial Stability, at the Point Zero Forum. The subject of the speech was the digitalisation of money and assets, and in particular the...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

Hogan Lovells

The Payments Newsletter including Digital Assets & Blockchain, April 2025

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Key developments of interest over the last month include: the Central Bank of Somalia announcing the launch of the Somalia Instant Payment System (SIPS), the country’s first nationwide instant payments infrastructure; the...more

Troutman Pepper Locke

Navigating the Future of Payment Stablecoins: Legislative Updates and Market Implications — Payments Pros – The Payments Law...

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In this special crossover edition of the Payments Pros and Crypto Exchange podcast, Carlin McCrory is joined by colleagues Alex Barrage and Ethan Ostroff to discuss recent legislative updates surrounding payment stablecoins....more

A&O Shearman

BoE reports on digital pound developments and implementation

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The Bank of England (BoE) has published a series of documents regarding its work on implementing the digital pound. The Digital Pound Experiment Report on Offline Payments assesses the technical feasibility of implementing an...more

Sheppard Mullin Richter & Hampton LLP

Digital Dollars, Not Investments: SEC Staff Weighs in on Stablecoins

On April 4, the Securities and Exchange Commission’s (SEC) Division of Corporation Finance issued a statement clarifying that reserve-backed U.S. dollar stablecoins are not securities, at least under current law and...more

Shipkevich PLLC

California Regulatory Update: DFPI Proposes Rules Regarding Licensing Under Digital Financial Assets Law (DFAL)

Shipkevich PLLC on

On April 4, 2025, the California Department of Financial Protection and Innovation (“DFPI”) issued a notice of proposed rulemaking to implement portions of the State’s Digital Financial Assets Law (“DFAL”) related to...more

Troutman Pepper Locke

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

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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

Orrick, Herrington & Sutcliffe LLP

House Financial Services Committee chair urges regulatory changes for CFPB and prudential regulators

On April 1, the Chairman of the U.S. House Committee on Financial Services, Rep. French Hill (R-AR) released nine letters they sent to the heads of the FDIC, the OCC, the Fed, the CFPB, the SEC, and the Federal Stability...more

Mayer Brown

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

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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

Troutman Pepper Locke

FDIC Turns a New Page on Banks’ Engagement in Crypto-Related Activities

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Last Friday, the Federal Deposit Insurance Corporation (FDIC) announced the rescission of Financial Institution Letter (FIL-16-2022) and issued new guidance clarifying the process for FDIC-supervised institutions to engage in...more

Hogan Lovells

The Payments Newsletter including Digital Assets & Blockchain, March 2025

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Key developments of interest over the last month include: the UK government publishing a pro-growth Action Plan for regulators and regulation, including pledges from the FCA of relevance to payments and digital assets firms;...more

DLA Piper

Congress Deliberates Legislation Establishing a Legal Framework for Stablecoins

DLA Piper on

The Trump Administration’s Executive Order on January 23, 2025, titled, “Strengthening American Leadership in Digital Financial Technology,” laid the groundwork for encouraging innovation to develop a digital economy. This,...more

Orrick, Herrington & Sutcliffe LLP

Hood reportedly discusses cryptoassets, de-banking, and new attitudes

On March 18, the OCC’s acting comptroller, Rodney Hood, reportedly spoke at a retail banking conference on several pertinent banking issues. Hood emphasized the OCC will not tolerate debanking of lawful businesses, including...more

Mayer Brown

Congress Moves Forward on Stablecoin Legislation: The US Senate Banking Committee Approves the GENIUS Act

Mayer Brown on

On March 13, 2025, the US Senate Banking Committee passed the Guiding and Establishing National Innovation for US Stablecoins Act of 2025 or “GENIUS Act,” out of committee by a vote of 18-6....more

Hogan Lovells

Regulating for Change: What do recent UK policy announcements mean for digital assets and blockchain?

Hogan Lovells on

Given the swathe of announcements from the UK regarding reforms to become more competitive, promote growth and drive down the cost of business, the Hogan Lovells Digital Assets and Blockchain Practice has looked at how we can...more

Jones Day

Updates on Proposed Stablecoin Legislation: the GENIUS Act and the STABLE Act

Jones Day on

As Congress moves to enact comprehensive stablecoin legislation under the Trump administration, both the Senate and the House of Representatives have updated their respective payment stablecoin bills. Our recent Commentary...more

Wilson Sonsini Goodrich & Rosati

A Crypto-Friendly Pivot in Bank Supervision: Three Practical Action Items for Innovators

A federal banking agency, the Office of the Comptroller of the Currency (OCC), has smoothed the way for national banks and federal savings associations to engage in crypto-related activities with the issuance of Interpretive...more

Venable LLP

Crossing the Pond: What UK Fintechs Taking a Fresh Look at the U.S. Market Need to Know

Venable LLP on

For years, UK-based consumer finance and payments firms have viewed the U.S. regulatory landscape as complex, fragmented, and challenging when it comes to expansion. But 2025 may prove to be a turning point....more

Troutman Pepper Locke

Banks Are Pushing Back Against Stablecoin Legislation

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Alex Barrage, a partner in Troutman Pepper Locke’s Financial Services Industry Group, was quoted in the March 13, 2025 American Banker article, “Banks Are Pushing Back Against Stablecoin Legislation.”...more

Paul Hastings LLP

New Industry-Friendly Crypto Regulations May Be on the Way

Paul Hastings LLP on

Congress and federal agencies have continued to back more industry-friendly crypto regulations and appear to be looking for paths forward for new legislation. Under new leadership, the agencies have indicated a willingness to...more

Hogan Lovells

EU Payments: What's in the regulatory pipeline for 2025?

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As the evolution of payments continues at a rapid pace it is important that industry participants are up to date on the regulatory developments supporting and guiding these developments. This publication outlines the key...more

A&O Shearman

Wolfsberg Group FAQs to help assess risks generated by the emergence of digital assets for AML and CTF purposes

A&O Shearman on

The Wolfsberg Group has published FAQs on defining digital assets. The FAQs propose definitions to be used by financial institutions, policymakers, supervisors and regulators to understand the characteristics of digital...more

Carey Olsen

The rise and growth of decentralised digital governance structures – ushering in a new era of finance

Carey Olsen on

The world of finance has been turned on its head. Digital Assets and distributed ledger technology, once the realm of tech enthusiasts, are now capturing the attention of institutional investors. We are witnessing a profound...more

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