Carter Burwell – Debevoise FinReg and FinTech Blog

Digital Assets

Bill Breakdown: The Warren-Marshall Digital Asset Anti-Money Laundering Act

By: Carter Burwell, Aseel Rabie and Jonathan Steinberg December 21, 2022

On December 14, 2022, Senators Elizabeth Warren (D-Mass.) and Roger Marshall (R-Kan.) introduced the Digital Asset Anti-Money Laundering Act of 2022 (the “Act”). According to the statement announcing the Act,…

Digital Assets

New FSOC Report Encourages Congressional Action on Digital Assets

By: Caroline Swett, Carter Burwell, Alison Hashmall, Tejas Dave, Ezra Newman, Taylor Richards and Lily D. Vo October 10, 2022

On October 3, 2022, the Financial Stability Oversight Council (“FSOC”) released a report and accompanying Fact Sheet on Digital Asset Financial Stability Risks and Regulation (the “Report”). The Report comes…

Securities

SEC Chair Gary Gensler’s Top Crypto Market Priorities

By: Carter Burwell, Jonathan Steinberg, Justice Walters and Lily D. Vo April 12, 2022

On April 4, 2022, Securities and Exchange Commission (“SEC”) Chair Gary Gensler spoke on the crypto markets at his alma mater, the University of Pennsylvania, for the Penn Law Capital…

Congressional Hearings

Congressional Roundup: Digital Asset Sanctions Compliance Enhancement Act and Senate Hearing on the Role of Digital Assets in Illicit Finance

By: Carter Burwell, Aseel Rabie, Nariné A. Atamian and Lily D. Vo March 30, 2022

On March 17, 2022, Sen. Elizabeth Warren (D-MA) and other Democrats introduced the Digital Asset Sanctions Compliance Enhancement Act of 2022. Also that day, the U.S. Senate Committee on Banking,…

Digital Assets

President Biden Signs Executive Order Outlining National Policy for Digital Assets

By: Byungkwon Lim, Carter Burwell, Alison Hashmall, Gary E. Murphy, Aseel Rabie, Ezra Newman, Taylor Richards, Lily D. Vo and Morgan J. Hayes March 10, 2022

Yesterday, President Biden signed an Executive Order (the “Order”) outlining, as described in the accompanying Fact Sheet, a “whole-of-government approach” to harness the benefits, and address the potential risks, of…

CBDC/Stablecoin

Senate Banking Committee Hearing Regarding the PWG Report on Stablecoins

By: Caroline Swett, Carter Burwell, Lily D. Vo and Ezra Newman March 7, 2022

On February 15, 2022, the U.S. Senate Committee on Banking, Housing and Urban Affairs (“Senate Banking Committee”) hosted a virtual hearing entitled, “Examining the President’s Working Group on Financial Markets…

Congressional Hearings

Senate Agriculture Committee Takes on Digital Assets With the CFTC in the Spotlight

By: Carter Burwell, Chen Xu, Jonathan Steinberg, Lily D. Vo and Justice Walters March 1, 2022

On February 9, 2022, the Senate Committee on Agriculture, Nutrition, and Forestry (“Senate Agriculture Committee”) hosted a virtual hearing entitled, “Examining Digital Assets: Risks, Regulation, and Innovation.” The hearing focused…

CBDC/Stablecoin

House Financial Services Hearing Regarding the PWG Report on Stablecoins

By: Carter Burwell, Caroline Swett, Jonathan Steinberg, Lily D. Vo and Justice Walters February 16, 2022

On February 8, 2022, the U.S. House Committee on Financial Services (“HFS”) hosted a virtual hearing entitled, “Digital Assets and the Future of Finance: The President’s Working Group on Financial…

Digital Assets

What the Stablecoin Industry Can Expect From Congress In 2022

By: David A. O’Neil, Carter Burwell and Lily D. Vo January 25, 2022

With Congress back in session following its winter recess, we expect an increasing focus on crypto-asset businesses, especially stablecoins, which are digital assets that are pegged to real assets —…