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Sheppard Mullin Richter & Hampton LLP

Fed Issues Cease and Desist Order for Crypto-Related Compliance and Risk Management Deficiencies

On September 4, the Federal Reserve Board (Fed) released enforcement actions against a Texas-based bank, addressing regulatory violations and compliance lapses. The Fed, joined by the Texas Department of Banking (TDB),...more

BakerHostetler

Weekly Blockchain Blog with Client Alert - August 2024 #2

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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

Wilson Sonsini Goodrich & Rosati

Fintech in Brief: Trends to Watch in 2024

Where will the fintech industry head in 2024? Our fintech and financial services partners make a few predictions below....more

Bennett Jones LLP

Fintech in Canada Q3 2023: Money20/20

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This series features insights on timely issues shaping the fintech industry, addressing critical subjects industry participants must consider in the areas of financial regulation, securities, commercialization of IT, AI,...more

Ballard Spahr LLP

Consumer Finance Monitor Podcast Episode: A Deep Dive Into Cryptocurrency and its Risks to Investors and the Banking System, with...

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After discussing what fluctuating- value cryptocurrencies and stablecoins are, their differences, and their primary uses and risks, we discuss the factors that led to the crypto boom and crash of 2020-22. We then look at the...more

American Conference Institute (ACI)

[Event] 22nd Annual Canadian Forum on Anti-Money Laundering and Financial Crime - June 7th - 8th, Toronto, Ontario, Canada

AML compliance for reporting entities has never been of greater critical importance than it is today. With the growing sophistication of criminals and the methods and technologies that they employed, combined with the...more

Wilson Sonsini Goodrich & Rosati

Focus on Fintech – Q1 2023

In this latest issue of the firm’s Focus on Fintech newsletter, our attorneys discuss the dissolution of Silicon Valley Bank and Signature Bank and the increased scrutiny on banking activity, as well as a number of updates...more

Bennett Jones LLP

Fintech in Canada Q1 2023: A Pivotal Moment

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Welcome to Bennett Jones' quarterly Fintech in Canada update, where our fintech lawyers address timely issues shaping the industry. We look at what industry participants need to know in the areas of financial regulation,...more

White & Case LLP

A New “Operation Choke Point”? The Quickly Changing Rules on Crypto Activities for Member Banks

White & Case LLP on

In an effort to align the permissibility of crypto activities for all member banks of the Federal Reserve System (the "FRS", which includes all national banks and state member banks), the Board of Governors of the Federal...more

Wilson Sonsini Goodrich & Rosati

Demystifying the Banking Regulators’ Recent Crypto Actions: Key Takeaways for Fintech Companies

The last few years had started to see a convergence between crypto and banking, with bitcoin appearing to rapidly grow mainstream. That momentum hit a wall with the spectacular crypto market failures of 2022, including the...more

McGlinchey Stafford

OCC Advises “Careful and Cautious” Approach to FinTech-Bank Partnerships

McGlinchey Stafford on

On Wednesday, September 7, 2022, acting Comptroller of the Currency Michael J. Hsu gave remarks in New York City at the Clearing House + Bank Policy Institute Annual Conference. Hsu’s remarks, “Safeguarding Trust in Banking:...more

Hogan Lovells

[Webinar] State of Crypto Market in Argentina and Lessons from the US and Europe - September 21st, 10:00 am - 11:30 am ET

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Blockchain technology, decentralized finance, and new forms of cryptoassets have a transformational impact on the financial market as we know it. Despite early adoption of cryptocurrencies in Argentina, its central bank is...more

Oberheiden P.C.

What Institutional Bankers Should Know About Cryptocurrency and Anti-Money Laundering Laws

Oberheiden P.C. on

For all of its upheaval, cryptocurrency seems like it is here to stay. This presents virtual currency businesses and institutional bankers with a dilemma: Do they capitalize on the increasingly powerful trend, or do they wait...more

Jones Day

All Talk, No Action? The Fintech Regulatory Plot Thickens

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Jones Day's new Of Counsel Nathan Brownback and Partner Josh Sterling discuss recent developments in the U.S. legal landscape for fintech, including the bipartisan Stabenow-Boozman bill, designed to regulate digital assets....more

A&O Shearman

Fed Imposes New Roadblock on Banks’ Crypto Activities

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Today, the Fed announced a new procedural requirement for banks seeking to engage in crypto activities. Going forward, a bank must provide formal notice to its lead supervisory contact at the Fed “prior to engaging in any...more

Clark Hill PLC

Deposit Insurance and Cryptocurrency Assets – What the FDIC Wants You To Know

Clark Hill PLC on

On July 29, the Federal Deposit Insurance Corporation (FDIC) issued a Financial Institution Advisory Letter informing the general public that the FDIC does not insure assets issued by non-banking institutions, such as...more

A&O Shearman

New York Fines Crypto Trading Platform $30M In First-Ever DFS Crypto Settlement

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On August 2, 2022, New York State’s Department of Financial Services (“DFS”) announced that Robinhood Crypto, LLC (“RHC”), a trading platform that allows customers to transact in cryptocurrencies, had agreed to pay a $30...more

Alston & Bird

U.S. Government Steps Up Its Enforcement in the Digital Assets Space

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Our Blockchain & Digital Assets Team offers a snapshot sample of significant recent developments by a panoply of federal agencies and departments that represent the expanding array of enforcement tools used by federal...more

Skadden, Arps, Slate, Meagher & Flom LLP

NY Department of Financial Services Outlines How Blockchain Analytics Should Be Used for Compliance

On April 28, 2022, the New York State Department of Financial Services (DFS) issued guidance on the use of blockchain analytics for virtual currency businesses licensed under 23 NYCRR part 200 (also known as a BitLicense) or...more

Sheppard Mullin Richter & Hampton LLP

Virginia Approves Bill Allowing Banks to Offer Cryptocurrency Custody Services

On March 3, Virginia passed a new bill (HB 263) permitting banks in the Commonwealth to provide its customers with crypto custody services “so long as the bank has adequate protocols in place to effectively manage risks and...more

Goodwin

Eleventh Circuit Overturns Dismissal of Cryptocurrency Ponzi Scheme Class Action Suit

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IN THIS ISSUE - Eleventh Circuit Overturns Dismissal of Cryptocurrency Ponzi Scheme Class Action Suit; Federal Court of Appeals Dismisses Leading Fannie Mae and Freddie Mac Shareholder Lawsuits; NY Seeks Blockchain...more

McDermott Will & Emery

[Webinar] 2022 FinTech Investment Trends - February 24th, 3:00 pm - 4:00 pm GMT

McDermott Will & Emery on

We invite you to attend our 2022 FinTech Investment Trends virtual panel discussion. Jointly hosted with Canary Wharf Group’s FinTech community, Level39, this event will explore the latest trends impacting the FinTech sector...more

Skadden, Arps, Slate, Meagher & Flom LLP

Central Banks Consider Digital Currency Pros and Cons in US and Europe

Takeaways - The Bank for International Settlements and seven central banks are studying how to launch CBDCs and have flagged key issues that will need to be addressed, including interoperability and confidentiality. In...more

BakerHostetler

Financial Firms Plan Decentralized Exchange, Launch Digital Bond; NFTs Launch in Sports, Fashion; Blockchain Tracing Solutions...

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US and Swiss Financial Firms Announce Decentralized Exchange, Digital Bond - A major U.S. fintech and digital payments company recently released a white paper detailing tbDEX, a new decentralized protocol for exchanging...more

Ballard Spahr LLP

Federal banking agencies Issue “Crypto Asset Roadmap” for 2022 guidance; OCC confirms prior interpretive letters on crypto (but...

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The Federal Reserve Board, FDIC, and OCC (collectively, the “Agencies”) issued on November 23 a short Joint Statement on Crypto-Asset Policy Sprint Initiative and Next Steps (“Joint Statement”), which announced – without...more

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