Crypto Year in Review 2022: Federal Reserve and Central Bank Digital Currencies and FDIC/OCC Regulatory Developments - The Crypto Exchange Podcast
Digital Assets | What is a CBDC?
Kilptrick Townsend Digital Assets Minute | U.S. Treasury—Comments on Digital Assets Development Due August 8th
Digital Assets Regulation Framework: Commerce Solicits Public Comment
Forthcoming Bipartisan Legislation Regulating Digital Assets
Congressional and Federal Agency Action Following Executive Order on Digital Assets Policy
Digital Currency and National Security Implications
The Crypto Episode
Key developments of interest over the last month include: the Bank of England publishing a discussion paper on its approach to innovation in money and payments; the European Commission publishing clarifying Q&As on the...more
Crypto Companies Announce Licenses, Acquisitions, New Products - According to recent reports, a major Chicago-based digital asset trading desk recently obtained a BitLicense from the New York Department of Financial...more
Key developments of interest over the last month include: the European Banking Authority’s publication of a report on virtual IBANs; HM Treasury’s designation of banks under the access to cash framework; and a Central Bank of...more
Recently, Georgia enacted HB 1053 (the “Act”) which will prohibit government agencies from engaging with central bank digital currencies (CBDCs). Specifically, the legislation will prevent state government agencies from...more
On April 11, the Governor of Tennessee signed into law SB 2219 (the “Act”) that amended Section 47-1-201(b) of the Tennessee Code by redefining “money” and codifying “central bank digital currency.” The term “money” was...more
Key developments of interest over the last month include: the European Parliament’s ECON Committee adopting draft reports on the European Commission’s PSR and PSD3 legislative proposals; ESMA consulting on 'reverse...more
At a time marked by themes of “push” and “pull,” organizations across all sectors and jurisdictions are grappling with the pursuit of innovation within an increasingly complex regulatory framework. Over the next 12 months,...more
On October 27, Fed Vice Chair for Supervision, Michael Barr, delivered a speech at the Economics of Payments XII Conference discussing the Fed’s place in the payments system and highlighting its role as a bank supervisor and...more
Financial Firm Completes CBDC Pilot; Exchanges Launch P2P Trading Platform - A major U.S. financial services firm recently published a press release announcing that it has “successfully demonstrated capabilities of a new...more
2021年に就任以来、日本の岸田文雄首相は、日本に「新しい資本主義」を確立することを目指してきた。岸田首相のビジョンの中心にあるのは、日本の「Web3.0時代におけるデジタル経済」を発展させるための「国家戦略」であり、これは「デジタル社会の実現」と日本経済の未来にとって「鍵」となるものだと岸田政権は考えている。世界中で「激しい競争」が繰り広げられる中、日本は、ブロックチェーン技術に基づく分散型ネットワークである「Web3の未来を先導」するため大規...more
日本銀行は、中央銀行デジタル通貨(CBDC)に関する２年間の概念実証(proof-of-concept)リサーチを完了し、現在、実証実験(パイロット・プログラム)を開始している。これにより、日本は、CBDC開発の実証段階に進んだ世界有数の経済国のひとつとなった。金融専門家は、2030年までに5兆ドルのCBDCが最大40億人に流通すると予想している。世界第3位の経済大国として、デジタル円が採用される可能性は、世界の金融システムやデジタル資産金融技術...more
The Digital Euro project is the European Central Bank’s (ECB) response to the changing landscape of consumer payments, driven by the rise of cryptocurrency, payment fintechs and electronic transactions. A Digital Euro would...more
Key developments of interest over the last month include: the European Commission’s publication of legislative proposals including for PSD3, a Payment Services Regulation and a digital euro; the UK Chancellor of the Exchequer...more
The European Commission (“Commission”) published its ‘Single Currency Package’ on 28 June 2023 with proposals to establish a legal framework for the creation of a potential digital euro alongside the cash euro. The...more
The Federal Reserve is set to launch its FedNow service on July 1, 2023. Since this service was first announced in 2019, it has generated significant discussion about financial privacy, digital banking and central bank...more
The Bank of Japan has completed its two-year proof-of-concept research for its prospective central bank digital currency (CBDC) and has now launched a pilot program. This makes Japan the largest democratic economy in the...more
CBDC Initiatives Advance in Colombia and Hong Kong - According to a recent press release, a major U.S. fintech company and “leader in enterprise blockchain and crypto solutions” has announced a collaboration with Colombia’s...more
Central Bank Digital Currencies (CBDCs) have been gaining worldwide attention as governments consider adopting this new form of digital fiat currency. A CBDC is essentially a digital version of a fiat currency, which is a...more
On February 7, 2023, the Bank of England (BoE) released two documents concerning a central bank digital currency (CBDC), a prospective government-backed digital form of U.K. currency also known as the "digital pound." ...more
With the rapid expansion and adoption of digital assets (cryptocurrencies, stablecoins, tokenized assets, and central banks digital currencies), companies of all types are being asked to address and interact with this growing...more
Digital assets, including cryptocurrencies, stablecoins, tokenized assets, and central bank digital currencies, are fundamentally reshaping U.S. and global business and transactions. That said, this transformation is complex,...more
On January 13, 2023, the Internal Revenue Service (IRS) Office of Chief Counsel published Memorandum 202302011 titled “[a]pplicability of I.R.C. section 165 to cryptocurrency that has declined in value.” The Memorandum...more
The last twelve months have seen unprecedented adoption, evolution, and turbulence across the digital assets sphere. Whether cryptocurrencies, stablecoins, or central bank digital currencies (CBDCs), all of which qualify as...more
The U.S. Department of the Treasury (Treasury) published a Request for Comment on Ensuring Responsible Development of Digital Assets. As stated by Treasury, the Request for Comment seeks input on “the illicit finance and...more
The U.S. Department of Treasury, in coordination with various federal entities, released three anticipated reports on digital assets: (i) a U.S. central bank digital currency (CBDC) report entitled "The Future of Money and...more