The Situation: The European Union ("EU") banking legislation has been substantially reviewed and provides notably for a new regime applicable to cross-border activities from non-EU jurisdictions....more
On June 29, 2022, the European Parliament, the Commission, and the Council reached a provisional agreement on the European Union proposal to update Regulation 2015/847 on information accompanying the transfer of funds ("TFR")...more
The Situation: On January 4, 2021, the Office of the Comptroller of the Currency ("OCC") issued an Interpretive Letter permitting national banks and federal savings associations ("Banks") to participate in independent node...more
1/19/2021
/ Banking Sector ,
Cryptoassets ,
Cryptocurrency ,
Digital Assets ,
Financial Industry Regulatory Authority (FINRA) ,
Financial Services Industry ,
FinCEN ,
Interpretive Letters ,
OCC ,
Popular ,
Securities and Exchange Commission (SEC) ,
Stablecoins
The Situation: The requirement for a paper-based note for issuing securities under the German law has been an obstacle for the use of security tokens in Germany. With the release of a draft bill (the "Bill") permitting the...more
The Situation: Following the enactment earlier in 2019 of new French legislation to regulate activities related to digital assets (including cryptocurrency but excluding tokenized securities), final regulatory provisions were...more
1/2/2020
/ AML/CFT ,
Cryptocurrency ,
Digital Assets ,
Financial Instruments ,
Financial Statements ,
France ,
Initial Coin Offering (ICOs) ,
Investment ,
New Legislation ,
Popular ,
Regulatory Oversight ,
Token Sales ,
Virtual Currency
The Situation: In 2017, French authorities amended laws to permit the use of blockchain, or distributed ledger technology ("DLT"), for trading nonlisted securities.
The Result: The regulation governing the use of DLTs and...more
President Trump has signed into law the Economic Growth, Regulatory Relief, and Consumer Protection Act ("Act"), with the principal goals of promoting U.S. economic growth, recalibrating burdensome rules, and strengthening...more
6/11/2018
/ Banks ,
Dodd-Frank ,
Economic Growth Regulatory Relief and Consumer Protection Act ,
Federal Reserve ,
Financial Institutions ,
Financial Regulatory Reform ,
Financial Services Industry ,
Mortgage Loan Originators ,
Mortgages ,
Popular ,
Trump Administration ,
Volcker Rule
As the interest in blockchain technology grows, companies will be confronted with numerous decisions, challenges, and legal issues pertaining to its adoption. Relevant matters include the overall design and control of...more
9/6/2017
/ Australia ,
Blockchain ,
China ,
Cybersecurity ,
Distributed Ledger Technology (DLT) ,
Financial Institutions ,
Foreign Jurisdictions ,
France ,
Germany ,
Hong Kong ,
Japan ,
Patents ,
Popular ,
Securities and Exchange Commission (SEC) ,
Singapore ,
Smart Contracts ,
Supply Chain ,
UK