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Financial Services Industry Corporate Governance Cryptocurrency

Conyers

The Importance of Sound Corporate Governance for Virtual Asset Service Providers: Lessons from Past Failures

Conyers on

In recent years, the virtual asset industry has experienced exponential growth, bringing about innovations in digital payments, tokenisation and decentralised finance (Defi). While highly innovative, the volatile nature of...more

Latham & Watkins LLP

Hong Kong Monetary Authority Issues Guidance for Banks on Crypto Custody and Sale of Tokenised Products

Latham & Watkins LLP on

Regulator sets out its expectations for banks looking to provide digital asset custody services, and sell and distribute tokenised products. On 20 February 2024, the Hong Kong Monetary Authority (HKMA) published two...more

Latham & Watkins LLP

NYDFS Proposes Updated Guidance on Crypto Listing

Latham & Watkins LLP on

The Proposed Guidance would require enhanced criteria for coin-listing and delisting procedures for New York-licensed virtual currency entities. On September 18, 2023, the New York Department of Financial Services (DFS)...more

BakerHostetler

New Crypto Products Launch; CBDC and NFT Reports Published; Network Protocol/Governance Updates Announced; Crypto Enforcement...

BakerHostetler on

New Crypto Products Launch in Exchanges, Wallets, and Custody - A recent press release announced the launch of EDX Markets, a “first-of-its-kind digital asset marketplace designed to enable safe and compliant trading of...more

Cadwalader, Wickersham & Taft LLP

Bank Regulators Issue Joint Statement on Crypto-Asset Risks

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

Farrell Fritz, P.C.

FTX, Sam Bankman-Fried and the Risk of Unchecked Founder Control

Farrell Fritz, P.C. on

“Never in my career have I seen such a complete failure of corporate controls and such a complete absence of trustworthy financial information as occurred here”.  Such was the lament of John Ray, the legendary restructuring...more

Skadden, Arps, Slate, Meagher & Flom LLP

Skadden’s 2023 Insights – Five Critical Areas for the Year Ahead

The pandemic’s impact may be subsiding, but businesses are encountering new challenges across the globe, including the potential for an economic retrenchment, rising interest rates, shifting regulatory and litigation...more

Foodman CPAs & Advisors

FDIC Crypto Protection? No Way!

On 7/29/22, the FDIC published a Crypto Advisory: “Advisory to FDIC-Insured Institutions Regarding Deposit Insurance and Dealings with Crypto Companies” due to its concern regarding the confusion that consumers have regarding...more

Akin Gump Strauss Hauer & Feld LLP

FCA Releases Three-Year Strategy and Business Plan

On 7 April 2022 the Financial Conduct Authority (FCA) released a three-year strategy for 2022-2025(the “Strategy”), setting out how the FCA aims to improve outcomes for UK consumers and markets. This was released alongside...more

Pillsbury Winthrop Shaw Pittman LLP

Gibraltar’s Financial Services Regulator Adopts First-Ever Purpose-Built Blockchain Regulations

Gibraltar has become the first jurisdiction worldwide to offer a fully regulated framework for firms working with distributed ledger technology (DLT)—also known as blockchain. The new regulatory framework means that FinTech...more

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