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U.S. Banking Agencies Signal Closer Review of Cryptocurrency Activities

USA - December 1 2021 On November 23, 2021, the Office of the Comptroller of the Currency (OCC) published Interpretative Letter No. 11791 (the Letter) clarifying the…

Joel D. Feinberg, Ivana Grossi, Michael D. Lewis, David E Teitelbaum

U.S. President’s Working Group on Financial Markets Releases Its Stablecoin Report

USA - November 5 2021 On November 1, 2021, the President’s Working Group on Financial Markets (PWG)1, along with the Federal Deposit Insurance Corporation (FDIC) and the…

Jay G. Baris, David E.Teitelbaum, Daniel Engoren, C.K. Kevin Park, Lilya Tessler

A general introduction to the regulation of virtual currencies in USA

USA - September 3 2021 This article reviews the need-to-know features of the legal and regulatory frameworks governing virtual currencies in USA, with particular regard to applicable securities and banking laws.

James B. Biery, Andrew P. Blake, Daniel Engoren, Dominique Gallego, Teresa Wilton Harmon, Nathan A. Howell, James C. Munsell, Michael S. Sackheim, Allison Ross Stromberg, David E Teitelbaum, Lilya Tessler

El Salvador’s Adoption of Bitcoin as Legal Tender May Bring Bitcoin Activity Within Scope of Money Transmitter Laws in More States

USA - June 10 2021 On June 9, 2021, the Legislative Assembly of El Salvador approved a bill adopting Bitcoin as legal tender in the country. The legislation will take…

David E.Teitelbaum, Joel D. Feinberg, Matthew S. Katz

Federal Reserve Board Requests Public Comments to Proposed Guidelines to Evaluate Accounts and Services Requests

USA - May 13 2021 On May 5, 2021, the Board of Governors of the U.S. Federal Reserve System (the Board) released a request for comment on proposed guidelines (the…

David E.Teitelbaum, Joel D. Feinberg