News & Analysis as of

Stablecoins Office of the Comptroller of the Currency FinTech

Latham & Watkins LLP

WisdomTree Granted New York Limited Purpose Trust Company Charter

Latham & Watkins LLP on

As federal regulation remains patchy, firms may want to consider a New York state charter as a potential avenue to expand digital asset offerings in a compliant manner. On March 22, 2024, WisdomTree, Inc., a global asset...more

Cadwalader, Wickersham & Taft LLP

Federal Reserve Says Permission Required for State Banks to Be Involved in Stablecoin Issuance

The Federal Reserve issued a Supervision and Regulation letter earlier this week to all state member banks (“SMBs”) regarding their involvement in activities involving stablecoins, taking an even more reticent position than...more

Orrick, Herrington & Sutcliffe LLP

House subcommittee examines framework for regulating stablecoins

The House Financial Services Subcommittee on Digital Assets, Financial Technology and Inclusion recently held a hearing to examine stablecoins’ role in the payment system and to discuss proposed legislation for creating a...more

Venable LLP

ETA FinTech Policy Forum

Venable LLP on

​​​​​​​This note summarizes the federal regulator panels at ETA's annual FinTech Policy Forum, which was hosted by Venable in our Washington, DC office. We provide key takeaways from the discussions with (a) CFPB Director...more

Sheppard Mullin Richter & Hampton LLP

Acting Comptroller Discusses Architecture of Stablecoins

On April 8, the acting comptroller of the currency, Michael J. Hsu, discussed many aspects of stablecoins (we previously discussed the President’s Working Group report on stablecoins and Hsu’s comments...). In his speech at...more

McGuireWoods LLP

Biden Administration Signals Focus on Cryptocurrency as President’s Working Group Issues Report on Stablecoin

McGuireWoods LLP on

On November 1, 2021, the President’s Working Group on Financial Markets (PWG), along with the Federal Deposit Insurance Corporation (FDIC) and the Office of the Comptroller of the Currency (OCC) (collectively, the Agencies)...more

Skadden, Arps, Slate, Meagher & Flom LLP

Federal Regulators Move To Regulate Stablecoins Through Banking Laws Plus New Legislation

The President’s Working Group on Financial Markets (PWG), together with the Federal Deposit Insurance Corporation (FDIC) and the Office of the Comptroller of the Currency (OCC), released a much-anticipated Report on...more

Morgan Lewis

President’s Working Group Report: Stablecoin Issuers Should Be Banks; Status as Securities or Commodities Still Unclear

Morgan Lewis on

US President Joe Biden’s Working Group on Financial Markets (PWG), along with the Federal Deposit Insurance Corporation (FDIC) and the Office of the Comptroller of the Currency (OCC), released a report on the risks and...more

Perkins Coie

Fintech Week in Review - February 2021 #3

Perkins Coie on

FDIC Appoints First Chief Innovation Officer - On February 16, 2021, the Federal Deposit Insurance Corporation (FDIC) appointed Sultan Meghji as the agency’s first Chief Innovation Officer. Meghji has been made responsible...more

Nelson Mullins Riley & Scarborough LLP

Brian Brooks' Last Dance

So let’s dance this last dance. On Jan. 4, 2021, the Office of the Comptroller of the Currency (“OCC”) published a Chief Counsel’s Interpretative Letter (the “Letter”) ‎confirming the authority of national banks’ and federal...more

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