News & Analysis as of November 19, 2024

Cryptoassets

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The Federal Deposit Insurance Corporation is a United States federal agency created in 1933 in response to widespread bank failures in the 1920s and early 1930s. The FDIC's mission is to maintain stability and consumer confidence in the United States banking system by insuring deposits, monitoring the health of financial institutions and managing receiverships. less -

CryptoLink - March 2024 Updates

Akin Gump Strauss Hauer & Feld LLP on 4/9/2024

In the House, lawmakers continue to make progress on the Clarity for Stablecoins Act (H.R. 4766). On March 19, at a press event hosted by Punchbowl News on the policy landscape for digital payments, outgoing House Financial...more

Well, California Has Decided to Regulate Crypto

Troutman Pepper on 11/7/2023

On October 13, California Governor Gavin Newsom (D) signed Assembly Bill 39 (Digital Financial Assets Law). This new law broadly empowers the California Department of Financial Protection and Innovation (DFPI) to govern...more

Client Alert: New multi-front Enforcement Action Emphasizes Key AML Compliance Requirements

Jenner & Block on 10/12/2023

Shinhan Bank America (“Shinhan”), a New York-based subsidiary of a Korean bank, faced coordinated enforcement actions on September 29 from the Financial Crimes Enforcement Network (“FinCEN”), Federal Deposit Insurance...more

CryptoLink - August 2023 Updates

Akin Gump Strauss Hauer & Feld LLP on 9/13/2023

CryptoLink is a compilation of news stories published by outside organizations. Akin aggregates these stories, but the information contained in them does not necessarily represent the beliefs or opinions of the firm. Akin's...more

Prudential Regulators Issue Joint Statement on Crypto-Asset Risks

Dechert LLP on 1/27/2023

The Board of Governors of the Federal Reserve System (Federal Reserve), the Federal Deposit Insurance Corporation (FDIC), and the Office of the Comptroller of the Currency (OCC) (collectively, the Agencies) on January 3, 2023...more

Bank Regulators Issue Joint Statement on Crypto-Asset Risks

Cadwalader, Wickersham & Taft LLP on 1/5/2023

On the first business day of the year, January 3, 2023, the Board of Governors of the Federal Reserve System (“the Fed”), the Federal Deposit Insurance Corporation (“FDIC”) and the Office of the Comptroller of the Currency...more

New US Digital Assets Bill Casts Wide Net

Latham & Watkins LLP on 9/13/2021

An ambitious proposal could bring digital assets into the mainstream regulatory fold. During an eventful summer for the digital assets industry, it may have been easy to miss US Representative Don Beyer’s introduction of the...more

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