Over the past few weeks, Congress has focused on digital asset regulations through various hearings and press conferences. Committees held key hearings to seek regulatory clarity, proposed new legislation and created a...more
Last week, both chambers of Congress presented drafts of legislation intent on regulating payment stablecoins. The GENIUS Act, presented by Sens. Tim Scott, Bill Hagerty, Cynthia Lummis and Kirsten Gillibrand, arrived on...more
2/14/2025
/ Banking Sector ,
Cryptocurrency ,
Digital Assets ,
Federal Reserve ,
Financial Institutions ,
Financial Regulatory Reform ,
Financial Services Industry ,
OCC ,
Regulatory Requirements ,
Stablecoins ,
U.S. Treasury
Stablecoins, which are digital assets pegged to fiat currency or other assets, play a crucial role in crypto markets, offering price stability and facilitating transactions. Despite their growing significance, there is no...more
2/10/2025
/ Anti-Money Laundering ,
California ,
Compliance ,
Cryptocurrency ,
Digital Assets ,
Financial Institutions ,
Financial Regulatory Reform ,
Financial Services Industry ,
FinCEN ,
FinTech ,
NYDFS ,
Regulatory Agenda ,
Regulatory Requirements ,
Stablecoins ,
Texas
The new Trump administration took numerous actions in its first week, including an order directing the creation of a working group on Digital Asset Markets. The president’s other actions touch on numerous areas of the...more
2/3/2025
/ Consumer Financial Protection Bureau (CFPB) ,
Cryptocurrency ,
Department of Justice (DOJ) ,
Digital Assets ,
EFTA ,
Enforcement Actions ,
Executive Orders ,
FDIC ,
Financial Regulatory Reform ,
Financial Services Industry ,
Regulatory Freeze ,
Securities and Exchange Commission (SEC) ,
Trump Administration
President Trump’s crypto executive order (the Crypto Executive Order) was a first step in the Trump Administration’s articulation of a policy on promoting the lawful use of blockchain technology. It remains to be seen whether...more
1/31/2025
/ Anti-Money Laundering ,
CFTC ,
Compliance ,
Cryptoassets ,
Cryptocurrency ,
Digital Assets ,
Enforcement Actions ,
Executive Orders ,
FinCEN ,
Office of Foreign Assets Control (OFAC) ,
Popular ,
Regulatory Agenda ,
Securities and Exchange Commission (SEC) ,
Trump Administration ,
U.S. Treasury
This week’s Crypto Policy Tracker highlights major developments, including a crypto executive order from the new Trump administration and the launch of a new SEC Crypto Task Force led by Commissioner Hester Peirce, signaling...more
1/27/2025
/ CFTC ,
Cryptoassets ,
Cryptocurrency ,
Digital Assets ,
Enforcement Actions ,
Executive Orders ,
Financial Institutions ,
Financial Regulatory Reform ,
Regulatory Agenda ,
Regulatory Reform ,
Securities and Exchange Commission (SEC) ,
Stablecoins ,
Trump Administration
It’s a new year, and state legislatures around the country are beginning new legislative sessions. We expect to see more of them enacting Article 12 of the Uniform Commercial Code (UCC), which is designed to facilitate...more
1/20/2025
/ Blockchain ,
Compliance ,
Cryptocurrency ,
Digital Assets ,
Electronic Records ,
Financial Institutions ,
FinTech ,
Non-Fungible Tokens (NFTs) ,
Purchasers ,
Regulatory Requirements ,
Stablecoins ,
Uniform Commercial Code (UCC)
As we begin the 119th Congress, the nation is also preparing for the new administration to take office in just a few weeks. While federal action on digital assets remains a key focus, this week’s Crypto Policy Tracker shifts...more
1/13/2025
/ Anti-Money Laundering ,
Bank Secrecy Act ,
Banking Sector ,
Compliance ,
Cryptocurrency ,
CSBS ,
Digital Assets ,
Digital Currency ,
FinCEN ,
FinTech ,
Money Transmitter ,
Regulatory Agenda ,
Regulatory Requirements ,
State and Local Government
This week, Congress wrapped up its final session of the 118th Congress. Crypto legislation in the next Congress will likely be based on the bills introduced in the prior session, but we might see some significant changes to...more
This week, Congress wrapped up its final session of the 118th Congress. Crypto legislation in the next Congress will likely be based on the bills introduced in the prior session, but we might see some significant changes to...more
A significant headwind for companies in the digital asset space is that they have reportedly struggled to secure and maintain relationships with banks, in what is now called “Choke Point 2.0.” With the incoming Trump...more
12/16/2024
/ Cryptocurrency ,
Digital Assets ,
FDIC ,
Federal Reserve ,
Financial Regulatory Agencies ,
Financial Services Industry ,
FinTech ,
OCC ,
Risk Management ,
Securities and Exchange Commission (SEC) ,
Staff Accounting Bulletin ,
U.S. Treasury
The 119th Congress is positioned to be the most pro-crypto in history, reflecting a growing acknowledgment of the digital asset industry’s significance. What makes this moment truly remarkable is the unprecedented support of...more
In this update, we focus on the potential changes in the executive branch and on the congressional committees that have jurisdiction over cryptocurrency. As the transition unfolds, much attention is on who will stay from the...more
11/25/2024
/ Anti-Money Laundering ,
Board of Governors ,
Choke Point ,
Cryptocurrency ,
Digital Assets ,
Economic Action Plan ,
Executive Branch ,
FDIC ,
Federal Reserve ,
Financial Services Committee ,
Financial Services Industry ,
FinTech ,
GAO ,
NDAA ,
OCC ,
Secretary of the Treasury ,
Securities and Exchange Commission (SEC) ,
Trump Administration
With the 119th Congress set to take office in January, we’re here to keep you up to date on key developments in the fast-evolving landscape of crypto policy. As a reminder, each new Congress starts with a clean slate, meaning...more
11/18/2024
/ Anti-Money Laundering ,
CFTC ,
Cryptocurrency ,
Decentralized Finance (DeFi) ,
Digital Assets ,
Financial Markets ,
Financial Regulatory Reform ,
Financial Services Industry ,
FinCEN ,
FinTech ,
Regulatory Agenda ,
Securities and Exchange Commission (SEC) ,
Stablecoins
On June 28, 2024, the Securities and Exchange Commission (“SEC”) filed a complaint alleging that Consensys Software, Inc. (“Consensys”), the developer of the MetaMask self-hosted wallet, acted as an unregistered broker...more
As the world’s fifth-largest economy, the state of California plays a critical role in technological innovation globally, including in the areas of blockchain and financial technology. However, until now, the California...more