U.S. Developments Regulatory Updates FinCEN Issues Advisory on Illicit Iranian Activities On October 11, 2018, the U.S. Treasury Department Financial Crimes Enforcement Network (“FinCEN”) issued an advisory to help money services businesses and foreign financial institutions better understand the U.S. Anti-Money Laundering/Combating the Financing of Terrorism (“AML/CFT”) risks related to Iranian activity. The report encourages … Continue Reading
The French data protection authority, Commission Nationale de l’Informatique et des Libertés (CNIL), became the first European data protection authority to issue written guidance on the intersection of the use of blockchain technology and the General Data Protection Regulation (GDPR). The CNIL guidance provides welcome clarification on how to tackle some of the inherent tensions … Continue Reading
U.S. Developments Federal Bank Regulators Issue Joint Statement on Collaborative BSA/AML Compliance On October 3, 2018, a group of federal bank regulators and the Financial Crimes Enforcement Network (“FinCEN”) announced in a joint statement that banks and credit unions could collaborate and share resources to manage their Bank Secrecy Act (“BSA”) and anti–money laundering (“AML”) … Continue Reading
The following summary is available in our sister blog, The Fintech Report. Roundup of CFTC Resources Blockchain Week in Review: Week of September 24-28, 2018 U.S. Developments Cryptocurrency and the Colorado Money Transmitter License Act On September 20, 2018, following months of consultation with the Colorado Attorney General’s office, Colorado’s Division of Banking released interim … Continue Reading
U.S. Developments Hester Peirce Remarks at Cato Institute Conference Hester Peirce made remarks at the Cato Institute’s Fintech Unbound conference on September 12, 2018. Commissioner Peirce commented that securities regulators are too risk averse, stating that “capital markets are all about taking risk, and queasiness around risk-taking is particularly inapt” and that “a key purpose … Continue Reading
The following summary is available in our sister blog, The Fintech Report. State Bank Regulators and NYDFS to renew litigation against OCC Blockchain Week in Review: Week of September 10-14, 2018… Continue Reading
The following summary are available in our sister blog, The Fintech Report. Varo Bank Receives Preliminary Approval for a National Bank Charter Blockchain Week in Review: Week of September 3-7, 2018… Continue Reading
The following summary are available in our sister blog, The Fintech Report. U.S. Chamber of Commerce Announces FinTech Innovation Initiative Blockchain in Review – Week of August 20 – 24, 2018… Continue Reading
U.S. Developments Regulatory Updates Ohio Enacts Cybersecurity Law with addition of Blockchain to Ohio’s Uniform Electronic Transactions Act… Continue Reading
The following summaries are available in our sister blog, The Fintech Report. OCC Begins Accepting National Bank Charter Applications from Financial Technology Companies New York Department of Financial Services Voices Opposition to Regulatory “Sandboxes” and OCC Charters for Fintech Companies… Continue Reading
The following update is on our Fintech Legal Report: FINRA Issues a Regulatory Notice for Firms to Let FINRA Know About Digital Asset Activities Blockchain Week in Review: Week of July 9, 2018 U.S. Developments Regulatory Updates Vermont Enacts Blockchain Business Development Bill On May 30, Vermont Governor Phil Scott signed SB 269 (thereby becoming … Continue Reading
U.S. Developments Regulatory Updates SEC and CFTC Announce New Cooperation Agreement On June 28, the Commodity Futures Trading Commission and the Securities and Exchange Commission announced a new Memorandum of Understanding meant to allow two agencies to further coordinate in areas of common interest. Under the MOU, the two agencies agreed to identify areas of … Continue Reading
U.S. Developments Regulatory Updates CFTC Staff Issues Advisory to Exchanges and Clearinghouses on Virtual Currency Derivatives On May 21, the Commodity Futures Trading Commission’s (CFTC) Division of Market Oversight and Division of Clearing and Risk released an advisory that provides guidance to designated contract markets (DCM), swap execution facilities (SEF), and derivatives clearing organizations (DCO) … Continue Reading
Below is a summary of some of the significant legal and regulatory actions that occurred over the past weeks. This alert is not intended to be a comprehensive list of all such developments, but rather a selection of publicly-reported news that may be of particular interest. U.S. Developments Regulatory Updates SEC Chairman Testifies Before the House Committee … Continue Reading
Below is a summary of some of the significant legal and regulatory actions that occurred over the past weeks. This alert is not intended to be a comprehensive list of all such developments, but rather a selection of publicly-reported news that may be of particular interest. International Developments Bermuda Announces Proposed Regulation for ICOs and other Crypto-related … Continue Reading
Below is a summary of some of the significant legal and regulatory actions that occurred over the past weeks. This alert is not intended to be a comprehensive list of all such developments, but rather a selection of publicly-reported news that may be of particular interest. Please visit our sister blog, FintechLegalReport, for the Fintech in Review … Continue Reading
Below is a summary of some of the significant legal and regulatory actions that occurred over the past weeks. This alert is not intended to be a comprehensive list of all such developments, but rather a selection of publicly-reported news that may be of particular interest. U.S. Developments Regulatory Updates House Financial Services Committee Holds Hearing on … Continue Reading
Below is a summary of some of the significant legal and regulatory actions that occurred over the past week. This alert is not intended to be a comprehensive list of all such developments, but rather a selection of publicly-reported news that may be of particular interest. U.S. Developments Regulatory Updates CFTC Chairman Gives Testimony Before the U.S. … Continue Reading
Below is a summary of some of the significant legal and regulatory actions that occurred over the past week. This alert is not intended to be a comprehensive list of all such developments, but rather a selection of publicly-reported news that may be of particular interest. U.S. Developments Regulatory Updates CFTC and SEC Chairmen Publish Joint Op-Ed … Continue Reading
Below is a summary of some of the significant legal and regulatory actions that occurred over the past week. This alert is not intended to be a comprehensive list of all such developments, but rather a selection of publicly-reported news that may be of particular interest. U.S. Developments Regulatory Updates CFTC and SEC Enforcement Directors … Continue Reading
Below is a summary of some of the significant legal and regulatory actions that occurred over the past week. This alert is not intended to be a comprehensive list of all such developments, but rather a selection of publicly-reported news that may be of particular interest. U.S. Developments Regulatory Updates CFTC Committees to Meet This … Continue Reading
Below is a summary of some of the significant legal and regulatory actions that occurred over the past week. This alert is not intended to be a comprehensive list of all such developments, but rather a selection of publicly-reported news that may be of particular interest.… Continue Reading
