Crypto-asset businesses, particularly those offering crypto lending, non-fungible tokens, or digital wallet/payments products — which are already facing intense scrutiny from the SEC, CFTC, U.S. Department of Justice and U.S.
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Federal Reserve, FDIC, and OCC Issue the First Joint Statement on Crypto-Asset Risks to Banking Organizations
On Jan. 3, 2023, the Board of Governors of the Federal Reserve System (Federal Reserve), Federal Deposit Insurance Corporation (FDIC), and Office of the Comptroller of the Currency (OCC) (collectively…
Continue Reading Federal Reserve, FDIC, and OCC Issue the First Joint Statement on Crypto-Asset Risks to Banking OrganizationsFederal Reserve System Takes First Step Toward Creating Its Own Digital Currency
On Jan. 20, 2022, the Board of Governors of the Federal Reserve System (Fed) issued the Money and Payments: The U.S. Dollar in the Age of Digital Transformation paper (Paper)…
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US Federal Banking Regulators Release Joint Statement on ‘Crypto-Asset Policy Sprint Initiative’
On Nov. 23, 2021, the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, and the Office of the Comptroller of the Currency issued a joint …
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Crypto Asset Custody Regulations in Japan
On Jan. 14, 2020, the Financial Services Agency of Japan published draft amendments of enforcement orders, cabinet office ordinances and guidelines concerning the recently amended and enacted crypto asset laws.
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SEC Issues ‘No-Action’ Letters Allowing Sales of Utility Tokens
In a significant step forward for the cryptocurrency industry, the U.S. Securities and Exchange Commission issued its first “no-action” letter (NAL) to a U.S.-based company using utility tokens created for…
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Proposed Amendment to Japanese Crypto Asset Laws
A bill to amend the Japanese laws regulating cryptocurrency exchange businesses or financial instruments transactions, including the Act on Settlement of Funds (Settlement Act) and the Financial Instruments and Exchange…
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Colorado Digital Token Act Exempts Certain Cryptocurrency Transactions From Colorado Securities Laws
Colorado recently passed legislation that will facilitate the sale and transfer of digital tokens in Colorado. Under the Digital Token Act, Colorado businesses will be permitted to effect transactions involving…
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FINRA Releases 2018 Annual Regulatory and Examinations Priorities
As it does every January, FINRA released its annual Regulatory and Examinations Priorities Letter identifying areas of examination focus for the coming year, recurring challenges faced by firms, and possible…
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