Jones Day Presents: State Regulations and Blockchain
The VASP Act defines “Virtual Assets” as digital representations of value that can be digitally traded or transferred and can be used for payment or investment purposes. Digital representations of fiat currencies (which is...more
The Financial Services and Markets Act 2023 (Digital Securities Sandbox) (Amendment) Regulations 2025 were laid before parliament, together with an explanatory memorandum. The Regulations relate to the Digital Securities...more
Regulatory clarity in the digital assets and crypto space continues to be a moving target. Yet, the interest among policymakers and regulators worldwide has never been more pronounced. In the United States, 2024 was a pivotal...more
Challenges and opportunities in the US, UK and Europe - "Many Fintechs that previously avoided bank-like regulation in the US are now actively seeking that status." The digital revolution was well underway long before most...more
At over $30 billion USD in transactions a year, the United States-Mexico remittance corridor is one of the largest in the world. The rapid development of cryptocurrencies has enabled cross-border transactions at just a...more
Key developments of interest over the last month include: Spain: The Spanish Council of Ministers has approved a draft Bill for the Digital Transformation of the Financial System, which will create a Spanish regulatory...more
In its continued effort to establish itself as the go-to jurisdiction for digital asset businesses, Wyoming, through its Department of Audit, Division of Banking, recently published a digital asset custody regime for its...more
Utah’s governor recently signed into law H.B. 378, which created a sandbox program for companies providing “innovative financial products or services” in the state. The program, run by Utah’s Department of Commerce, requires...more
As fintech and blockchain transactions continue to grow in popularity, they are receiving increased attention at the state level, whether through fintech sandboxes, crypto-friendly legislation, or other initiatives aimed to...more
Utah Governor Gary Herbert signed H.B. 378, Regulatory Sandbox, into law on March 25, 2019. This bill created the nation’s third regulatory sandbox program for fintechs, after Arizona, which enacted sandbox legislation in...more
Editor's Note - In This Issue. Federal financial regulators issues a proposed rule exempting community banks from the Volcker Rule; the Federal Deposit Insurance Corporation (FDIC) issued a notice of proposed rulemaking...more
In an effort to promote the development of new financial technology (fintech) products, Mick Mulvaney, acting director of the Consumer Financial Protection Bureau (CFPB), announced last week the creation of the Office of...more
On July 18, 2018, the Bureau of Consumer Financial Protection (the “Bureau”) ( announced the appointment of the head of its newly-created Office of Innovation,1 which will have as its first order of business the creation of a...more
The European Commission has issued a Communication on FinTech to the European Parliament, the European Council, the European Central Bank, the European Economic and Social Committee and the Committee of the Regions....more