Implementation of Basel Committee cryptoassets standard to provide additional clarity for banks looking to engage in cryptoassets business.
By Simon Hawkins and Adrian Fong
On 7 February 2024, the Hong Kong Monetary Authority (HKMA) released a consultation paper on its proposal for implementing new regulations on the prudential treatment of cryptoasset exposures (Consultation Paper).
The
The requirements in the proposed framework are more extensive in scope and reach than what many virtual asset industry stakeholders anticipated.
By Simon Hawkins and Adrian Fong
On 8 February 2024, the Financial Services and the Treasury Bureau (FSTB) released a consultation paper on its legislative proposal to introduce a regulatory regime governing over-the-counter (OTC)
The SEC’s long-awaited green light for spot bitcoin ETPs is welcomed by the market, but the ambivalent decision raises more questions than it answers.
By Jenny Cieplak, Aaron Gilbride, Yvette D. Valdez, Stephen P. Wink, and Deric Behar
On January 10, 2024, the Securities and Exchange Commission (SEC) issued, on an
A recent bipartisan bill, if enacted, would particularly benefit small lenders and bank-fintech partnerships by promoting transparency, appellate rights, and examiner accountability.
By Arthur S. Long, Parag Patel, Barrie VanBrackle, Pia Naib, and Deric Behar
On December 14, 2023, a bipartisan group of senators introduced the Fair Audits and Inspections for
The proposed regulatory framework would create substantive obligations on issuers of fiat-referencing stablecoins to safeguard the public.
By Simon Hawkins and Adrian Fong
On 27 December 2023, the Financial Services and the Treasury Bureau (FSTB) and the Hong Kong Monetary Authority (HKMA) released a consultation paper on their legislative proposal for a regulatory regime governing
The Proposed Guidance would require enhanced criteria for coin-listing and delisting procedures for New York-licensed virtual currency entities.
By Jenny Cieplak, Arthur S. Long, Yvette D. Valdez, Stephen P. Wink, Ian Irlander, and Deric Behar
On September 18, 2023, the New York Department of Financial Services (DFS) issued Proposed Updates
The new standard aims to improve accounting treatment of certain digital assets under GAAP and may pave the way for increased institutional adoption.
By Jack Barber, Robert J. Malionek, Marlon Q. Paz, Heather Waller, and Deric Behar
On September 6, 2023, the Financial Accounting Standards Board (FASB)[1] voted to approve
In its second action involving NFTs, the SEC targets an offering tied to fundraising and promises of future value.
By Ghaith Mahmood, Nima H. Mohebbi, Stephen P. Wink, Douglas K. Yatter, Adam Zuckerman, Luca Marquard, and Deric Behar
On September 13, 2023, the Securities and Exchange Commission (SEC) issued
An appeals court panel rules that the SEC rejection of a proposed spot bitcoin ETP was arbitrary and capricious, opening the door for the potential launch of numerous ETPs in the near future.
By Jack Barber, Aaron Gilbride, Marlon Paz, Stephen P. Wink, and Deric Behar
On August 29, 2023, a
A new publication from the UK’s financial regulator signals to firms that they should take steps to manage risks in the use of AI.
By Stuart Davis, Fiona M. Maclean, Gabriel Lakeman, and Imaan Nazir
The UK’s Financial Conduct Authority (FCA) has published its latest board minutes highlighting its increasing focus on