Consumers and businesses stand to benefit from rapid access to funds at any time when routed through participating financial institutions.
By Parag Patel, Barrie VanBrackle, Mik Bushinski, and Deric Behar
On July 20, 2023, the Federal Reserve announced the long-awaited launch of its real-time payment service, FedNow. The new service enables consumers
Regulator clarifies that existing FCA rules will continue to apply but will also reflect the evolving landscape of financial promotions on social media.
By Nicola Higgs, Stuart Davis, Fiona Maclean, Gabriel Lakeman, and Gary Whitehead
On 17 July 2023, the FCA published a guidance consultation (GC23/2) relating to financial
Latham’s payments specialists examine the proposed new EU payments package.
By Christian McDermott, Brett Carr, and Amy Smyth
The European Commission recently published its proposals for a new EU payments regime, which comprises the Payment Services Directive 3 (PSD3) and the Payment Services Regulation. During this one-hour webcast, we outline the purpose and
Earlier this year, the European Union (EU) voted in favour of the Markets in Crypto-Assets (“MiCA”) bill, which aims to regulate the crypto industry within the EU. The bill is seen as a major step towards establishing a comprehensive regulatory framework for cryptocurrencies and other digital assets in the EU that will undoubtedly make
On July 13, 2023, the Federal District Court for the Southern District of New York issued the hotly anticipated ruling in the SEC’s case against Ripple Labs, Inc. On cross-motions for summary judgment, the court found that only Ripple’s sale of its XRP tokens to institutional buyers pursuant to sales contracts constituted unregistered sales of
The viability of DAO structures draws attention after a judge declares that a decentralized autonomous organization is a “person” under the law.
By Nima H. Mohebbi, Yvette D. Valdez, Stephen P. Wink, Douglas K. Yatter, Peter Trombly*, Adam Zuckerman, and Deric Behar
On June 8, 2023, the US District
Last week, the FTC announced its long-awaited finalization of updated Endorsement Guides. These guidelines come after the FTC initially voted to publish revised guidelines in May 2022.
As reported in a Hunton Client Alert last week, on June 6, 2023, the Federal Deposit Insurance Corporation, the Board of Governors of the Federal Reserve System and the Office of the Comptroller of the Currency issued final guidance on managing risks associated with third-party relationships, including relationships with fintechs.
On June 8, 2023, Judge William H. Orrick of the U.S. District Court for the Northern District of California granted a default judgment in favor of the CFTC against Ooki DAO, a cryptocurrency decentralized autonomous exchange.
On May 30, 2023, the Commodity Futures Trading Commission Division of Clearing and Risk issued a staff advisory on the risks associated with the Derivatives Clearing Organization clearing of digital assets.