News & Analysis as of

Banking Sector Digital Assets

K&L Gates LLP

The Italian Law Implementing the EU MiCar Regulation: A "MiFIDisation" of Crypto-Assets?

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On 13 September 2024 Legislative Decree no. 129/2024 (Decree no. 129), implementing the MiCAR Regulation (Regulation (EU) 2023/1114 of the European Parliament and of the Council of 31 May 2023 on markets in crypto-assets –...more

Hogan Lovells

The Payments Newsletter including Digital Assets & Blockchain, October 2024

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Key developments of interest over the last month include: the UK FCA publishing a consultation on two-stage reforms to the payments and e-money safeguarding regime; the U.S. Consumer Financial Protection Bureau announcing a...more

A&O Shearman

The UK Digital Securities Sandbox is officially open

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On September 30, 2024, the UK Digital Securities Sandbox was officially declared open. The announcement was made by the Bank of England (BoE) and the UK Financial Conduct Authority (FCA), following the consultation earlier...more

Hogan Lovells

The Payments Newsletter including Digital Assets & Blockchain, September 2024

Hogan Lovells on

Key developments of interest over the last month include: the UK Payment Systems Regulator publishing a policy statement on directing APP scams reimbursement for CHAPS payments and final guidance on distinguishing between APP...more

BakerHostetler

Weekly Blockchain Blog - September 2024 #2

BakerHostetler on

According to recent reports, two U.S. multinational financial technology companies have integrated Ethereum Name Service (ENS), a decentralized naming system built on the Ethereum blockchain, into their payment platforms....more

BakerHostetler

Weekly Blockchain Blog with Client Alert - August 2024 #2

BakerHostetler on

Crypto Offerings Launch by Major Investment Bank, Asset Manager and Insurer - According to a recent report, a major multinational investment bank and financial services firm is now allowing its investment advisors to pitch...more

A&O Shearman

Regulatory monitoring: EU version Newsletter - July 2024

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1. Bank regulation - 1.1 Prudential Regulation - (a) General - (i) International - BCBS: Consultation on report regarding various technical amendments and FAQs - Status: Consultation - Deadline for the submission of...more

A&O Shearman

Regulatory monitoring - July 2024

A&O Shearman on

1. Bank regulation - 1.1 PRUDENTIAL REGULATION - a) General - (i) International - BCBS: Consultation on report regarding various technical amendments and FAQs - Status: Consultation - Deadline for the submission of...more

Walkers

Digital Asset SCPS Consultation Guidance

Walkers on

The Bermuda Monetary Authority (the "Authority") released its Digital Asset Business Single Currency Pegged Stablecoins (SCPS) Consultation Guidance (the "Guidance"). The Guidance seeks to provide information and...more

Troutman Pepper

Troutman Pepper Weekly Consumer Financial Services Newsletter - April 2024 # 5

Troutman Pepper on

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

Jenner & Block

[Ongoing Program] CLE Relay – Session 3 – Hot Topics in Fintech and Crypto - June 7th, 10:00 am - 11:00 am PDT

Jenner & Block on

This session will provide a survey of key issues and trends impacting the fintech and digital assets community as well as the future opportunities and challenges presented for these financial products and services. It will...more

Hogan Lovells

The Payments Newsletter including Digital Assets & Blockchain, April 2024

Hogan Lovells on

Key developments of interest over the last month include: the EU’s regulation on instant credit transfers in euro coming into force; the Bank for International Settlements (BIS) announcing a public-private partnership to...more

Orrick, Herrington & Sutcliffe LLP

UK financial regulators issue new authority on securities “sandbox”

On April 3, the U.K.’s Financial Conduct Authority and the Bank of England released a consultation paper seeking comments on their proposal to implement the Digital Securities Sandbox (DSS), a new regime for financial firms...more

American Conference Institute (ACI)

[Event] 23rd Annual Canadian Forum on Anti-Money Laundering and Financial Crime - June 5th - 6th, Toronto, Ontario, Canada

Hosted by the Canadian Institute, the 23rd Annual Canadian Forum on Anti-Money Laundering and Financial Crime returns for another exciting year. The event features carefully curated programming providing practical guidance...more

Orrick, Herrington & Sutcliffe LLP

Wyoming SF 96 amends regulations for banks offering custodial or fiduciary services for digital assets

On March 15, the Governor of Wyoming signed SF 96 (the “Act”), which amended regulations for banks offering custodial or fiduciary services for digital assets, made conforming adjustments, and set an effective date. The Act...more

Katten Muchin Rosenman LLP

UK Financial Insights from Katten | Issue 9

UK Financial Insights from Katten is a monthly newsletter highlighting key noteworthy developments potentially affecting financial markets and funds in the UK and Europe....more

Guidepost Solutions LLC

Emerging Expectations from the Latest Enforcement Actions Over Off-Channel Communications

Since December 2021, the U.S. Securities and Exchange Commission (SEC) and Commodity Futures Trading Commission (CFTC) have levied almost $3.0 billion in penalties for longstanding failures by 39 broker-dealers, swap dealers,...more

A&O Shearman

2024: Regulation gets 'smart'?

A&O Shearman on

In our annual financial services Horizon Scanning webinar, our regulatory team provided an overview of upcoming and expected changes for UK firms. Partners from our UK team considered regulatory updates on the horizon for...more

K&L Gates LLP

CFPB Aiming to Oversee Digital Payments

K&L Gates LLP on

In late 2023, the Consumer Financial Protection Bureau (CFPB) proposed a rule that would subject nonbank fintech companies to the CFPB’s authority. The CFPB articulated that it intends the rule to “level the playing field”...more

Skadden, Arps, Slate, Meagher & Flom LLP

A New Regime Governing Stablecoins

On 6 November 2023, the Bank of England (the UK’s central bank) issued a discussion paper on the regulation on stablecoins, alongside another paper by the UK Financial Conduct Authority (FCA) (DP23/4) and a “Dear CEO” letter...more

American Conference Institute (ACI)

[Event] 29th Annual Flagship Conference on Regulatory Compliance for Financial Institutions - November 21st - 22nd, Toronto, ON,...

Don’t miss the opportunity to gain valuable insights from industry experts at Canadian Institute’s Annual Flagship Conference on Regulatory Compliance for Financial Institutions. This event will equip you with strategies to...more

A&O Shearman

UK Conduct Regulator Offers Small Reprieve for Cryptoasset Marketing

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The U.K. Financial Conduct Authority announced on September 7, 2023, that firms may avail themselves of a delay to the application of some rules applying to cryptoasset financial promotions. The FCA published rules for...more

Latham & Watkins LLP

FRB Clarifies Supervision of Digital Assets and Bank-Fintech Partnerships

Latham & Watkins LLP on

A new program addresses innovative banking activities such as bank-fintech partnerships and digital assets while reinforcing guardrails around stablecoin activity. On August 8, 2023, the Board of Governors of the Federal...more

Orrick, Herrington & Sutcliffe LLP

Fed suggests enhancing supervision of “novel activities” by banks

On August 8, the Federal Reserve Board announced the issuance of two supervision letters that elaborate on the its program to supervise “novel activities” such as fintech partnerships, crypto-related activities, and...more

Morgan Lewis - All Things FinReg

Federal Reserve Announces Supervisory Developments for Dollar Tokens and ‘Novel Activities’ – But What’s New?

The Board of Governors of the Federal Reserve System (Federal Reserve) took another tepid step into the digital asset space on August 8, announcing that it has established a program to “enhance the supervision of novel...more

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