The legislation allows decentralized autonomous organizations to gain legal entity status and operate within the bounds of applicable law.
By Jenny Cieplak, Stephen P. Wink, Daphne Lambadariou, and Deric Behar
On March 7, 2024, Wyoming Governor Mark Gordon signed into law a new legal framework for decentralized autonomous organizations (DAOs), allowing them
The rule targets a statutory loophole that the CFPB asserts large credit card issuers exploited to exact excessive late fees from consumers.
By Barrie VanBrackle and Deric Behar
On March 5, 2024, the Consumer Financial Protection Bureau (CFPB) finalized a rule (the Rule) to amend Regulation Z, which implements the Truth in Lending Act (TILA)
Regulator sets out its expectations for banks looking to provide digital asset custody services, and sell and distribute tokenised products.
By Simon Hawkins and Adrian Fong
On 20 February 2024, the Hong Kong Monetary Authority (HKMA) published two circulars prescribing additional guidance to banks interested in carrying on certain digital asset services:
The SEC’s ambiguous rule could have a chilling effect both on decentralized finance and on the provision of liquidity to centralized crypto exchanges.
By Jenny Cieplak, Marlon Q. Paz, Stephen P. Wink, and Naim Culhaci
The Securities and Exchange Commission (SEC) adopted a new rule on February 6, 2024, further defining the
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