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China to Legalize Digital RMB and Prohibit Competitors

China - November 12 2020 The draft Banking Law was included in the legislative plan of the 13th National People’s Standing Committee as well as the 2020 legislative plan, set...

Andrew J. Schaffer, Yang Wang, Adam C. R. Schmelzer.

DOJ Cyber-Digital Task Force Issues Report on Cryptocurrency Enforcement Framework

USA - October 28 2020 The Attorney General’s Cyber-Digital Task Force (Task Force) issued a report on October 8, 2020, which outlines the Task Force’s prop...

Andrew J. Schaffer, Paul C. Kingsbery, Michael J. Gilbert.

SEC Staff Issues No-Action Letter Regarding Digital Asset Securities Trading on ATS Platforms

USA - October 22 2020 The Staff of the Securities and Exchange Commission’s Division of Trading and Markets (Staff) issued a no-action letter to the Financial Industry...

K. Susan Grafton, Andrew J. Schaffer, Devon Roberson.

OCC and SEC Staff Issue Statements on Stablecoin Reserves

USA - October 13 2020 The Office of the Comptroller of the Currency published an interpretive letter on September 21, 2020 (Letter), confirming that national banks and...

Andrew J. Schaffer, David J. Harris, Devon Roberson.

Community Development Financial Institutions - Opportunities for Managers of Loan Funds and Venture Capital Funds

USA - October 8 2020 Community Development Financial Institution (CDFI) certification is awarded to "community-based organizations that seek to expand economic...

Andrew J. Schaffer, Tyler H. Payne, David J. Harris.