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The Systemic Importance of Cloud-Based Service Providers to Banks

USA - September 5 2019 US lawmakers urge FSOC to designate cloud-based storage systems used by major banks as systemically important financial market utilities. In an…

Alan W Avery, Victoria McGrath

OCC’s New Comptroller Announces Innovative Fintech Initiatives

USA - July 30 2020 A new Payments Charter could enable entities to engage in payments-related activities on a nationwide basis, rather than by state…

Alan W Avery, Todd Beauchamp, Loyal T. Horsley, Charles Weinstein

Virtual Currencies: Court Rules that Selling Bitcoin Is Not Money Transmitting and Selling Bitcoin to Criminals Is Not a Crime

USA - August 31 2016 In State of Florida v. Espinoza, a trial court in Miami recently dismissed all charges against an individual Bitcoin exchanger, who was arrested in a…

Serrin A.Turner, Benjamin A. Naftalis

Virtual currencies: New York State Department of Financial Services releases proposed regulations

USA - August 1 2014 On July 23, 2014, the New York State Department of Financial Services (NYSDFS), the governmental agency that regulates the financial services and…

Alan W Avery, Vivian A. Maese

Responsible Financial Innovation Act Offers Clarity, Safeguards for Digital Assets — Banking and Payment Stablecoins

USA - July 7 2022 The RFIA could make it easier for FinTechs dealing in digital assets and stablecoins to access Federal Reserve Bank services…

Alan W Avery, Deric M. Behar