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Troutman Pepper Locke

Troutman Pepper Locke Weekly Consumer Financial Services Newsletter – April 2025 # 3

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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

Mayer Brown

FDIC Streamlines Process for Cryptocurrency Activities by Banks It Regulates and Speculates on Additional Permissible Activities

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On March 28, 2025, the Federal Deposit Insurance Corporation (FDIC) issued guidance on state nonmember bank and state savings association participation in certain cryptocurrency activities (“FIL-7-2025”). ...more

Sheppard Mullin Richter & Hampton LLP

FDIC Updates Crypto Guidance, Removes Pre-Approval Requirement for Banks

On March 28, the FDIC issued updated guidance clarifying the process for FDIC-supervised institutions to engage in crypto-related activities. The guidance rescinds and replaces prior instructions issued in 2022 and makes...more

Orrick, Herrington & Sutcliffe LLP

FDIC no longer requires notification of crypto-related activities

On March 28, the FDIC announced new guidance allowing FDIC-supervised institutions to engage in permissible crypto-related activities without prior approval. This update, outlined in FIL-7-2025, rescinded the previous...more

Moore & Van Allen PLLC

The Desk: April Edition

March is over and all of our brackets are busted. We hope you have been enjoying, Moore & Van Allen’s very own, Jay Bilas’ coverage on ESPN. In this month’s newsletter we will walk you through the CFTC’s continued updates on...more

Jones Day

FDIC Rescinds Prior Notification Requirement for Banks' Permissible Crypto Activities

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The FDIC has rescinded an earlier Financial Institution Letter establishing a prior notification requirement for FDIC-supervised institutions that wish to engage in specified crypto-related activities and has clarified that...more

Katten Muchin Rosenman LLP

Banking Agencies Begin Publishing Updated Crypto Guidance

On March 28, the Federal Deposit Insurance Corporation (FDIC) rescinded Biden administration guidance related to state-chartered banks' participation in "crypto-related activities" and published a new interpretation of the...more

Mayer Brown

Credibly Challenged Podcast: Interview With Mark Quandahl, Former Director of the Nebraska Department of Banking and Finance

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Joe Castelluccio and Matt Bisanz interview Mark Quandahl, the former Director of the Nebraska Department of Banking and Finance. They discuss his role in the implementation of the Nebraska Financial Innovation Act, including...more

Troutman Pepper Locke

FDIC Turns a New Page on Banks’ Engagement in Crypto-Related Activities

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Last Friday, the Federal Deposit Insurance Corporation (FDIC) announced the rescission of Financial Institution Letter (FIL-16-2022) and issued new guidance clarifying the process for FDIC-supervised institutions to engage in...more

BakerHostetler

Weekly Blockchain Blog - March 2025 #5

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In a recent press release, Custodial Bank and Vantage Bank announced “America’s first bank-issued stablecoin on a permissionless blockchain.” According to the press release, “[t]he banks collaborated on the mint, transfer and...more

Orrick, Herrington & Sutcliffe LLP

Wyoming enacts law for converting special purpose depository institutions to public trust companies

On March 17, Wyoming enacted SF 95 which addresses the conversion of special purpose depository institutions into public trust companies. The Act introduces a new section which outlines that, as part of a conversion...more

Sheppard Mullin Richter & Hampton LLP

FDIC Aims to Eliminate Reputational Risk from Supervision

On March 24, acting FDIC Chairman Travis Hill informed Congress that the agency is preparing to eliminate the use of “reputation risk” as a basis for supervisory criticism. In a letter to Rep. Dan Meuser (R-Pa.), Hill...more

Lowenstein Sandler LLP

Crypto Brief - Lowenstein Crypto Newsletter - March 20, 2025

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Lowenstein Crypto advises leading digital asset and cryptocurrency projects, exchanges, and trading firms. Our practice covers regulatory advice, transactions and structuring advice, investigations, and adversarial matters...more

A&O Shearman

MiCAR under the microscope - Part 7: Prudential and capital requirements for issuers of ARTs and CASPs

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In this edition of our "MiCAR under the microscope" series, we examine the prudential requirements, with a specific focus on the capital requirements that are applicable to issuers of ARTs and EMTS and CASPs under Regulation...more

Ballard Spahr LLP

Crypto Clarity: OCC’s New Guidelines Pave the Way for Banking Innovation

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On March 7, 2025, the Office of the Comptroller of the Currency (“OCC”) released Interpretive Letter 1183, marking a pivotal change in regulatory guidance for national banks and federal savings associations engaging in...more

Latham & Watkins LLP

OCC Affirms Regulated Entities Can Engage in Crypto and Stablecoin Activities

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In a break from restrictive Biden-era policies, OCC-supervised banks may now engage in crypto without supervisory nonobjection, potentially opening new avenues for innovation....more

Mayer Brown

OCC Streamlines Process for Cryptocurrency Activities by Banks It Regulates

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On March 7, 2025, the Office of the Comptroller of the Currency (OCC) issued guidance on national bank and federal savings association participation in certain cryptocurrency activities (“IL 1183”). This guidance is the...more

Orrick, Herrington & Sutcliffe LLP

OCC interpretive letter permits cryptocurrency activities for banks

On March 7, the OCC issued its Interpretive Letter 1183, affirming that national banks and federal savings associations can engage in various cryptocurrency activities, including crypto-asset custody, certain stablecoin...more

Sheppard Mullin Richter & Hampton LLP

OCC Clarifies Banks’ Role in Cryptocurrency Activities

On March 7, the OCC issued Interpretive Letter 1183 and an accompanying statement affirming prior guidance regarding whether national banks and federal savings associations may engage in cryptocurrency-related activities,...more

Clark Hill PLC

White House Establishes Strategic Bitcoin Reserve

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On March 6, President Trump issued an executive order declaring the “Establishment of the Strategic Bitcoin Reserve and United States Digital Asset Stockpile.” The move marks a massive leap forward for an administration that...more

Troutman Pepper Locke

Banks Are Pushing Back Against Stablecoin Legislation

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Alex Barrage, a partner in Troutman Pepper Locke’s Financial Services Industry Group, was quoted in the March 13, 2025 American Banker article, “Banks Are Pushing Back Against Stablecoin Legislation.”...more

Troutman Pepper Locke

OCC Clarifies Bank Authority to Engage in Certain Cryptocurrency Activities

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On March 7, the Office of the Comptroller of the Currency (OCC) issued a significant update regarding the involvement of national banks and federal savings associations in cryptocurrency activities. Interpretive Letter 1183...more

Jones Day

OCC Eases Some Restrictions on Bank Digital Asset Activities

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In recent years, U.S. federal bank regulators significantly limited banks' authority to engage in crypto-asset activities, including participating in public blockchains, owning digital assets as principal, and even providing...more

Davis Wright Tremaine LLP

OCC Rescinds Required Supervisory "Non-Objection" Preclearance for Permissible Crypto-Related Activities

The OCC has reiterated that certain crypto-related activities—crypto-asset custody, distributed ledger, and stablecoin activities—previously determined to be permissible remain so. The OCC has also rescinded a Biden-era...more

Fenwick & West LLP

OCC Reaffirms Bank Authority to Engage in Cryptocurrency Activities

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On March 7, 2025, the Office of the Comptroller of the Currency (OCC) published Interpretive Letter 1183, which is expected to clarify and streamline national banks’ ability to engage in cryptocurrency activities....more

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