In response to ongoing Russian military action in Ukraine, U.S. authorities have imposed several tranches of new sanctions against Russia, particularly against Russia’s financial industry, including its major banks and…
One of the biggest regulatory barriers facing cryptocurrency and fintech companies is inconsistency across regimes. In September 2021, the Conference of State Bank Supervisors (“CSBS”) attempted to remove one of…
The Banking Group of Debevoise & Plimpton LLP would like to welcome you to its newest client tool, the Debevoise Fintech Blog. The goal of the blog is to help…
On November 21, 2021, the Office of the Comptroller of the Currency (“OCC”) published a letter “clarifying” that certain cryptocurrency, distributed ledger and stablecoin activities addressed in three prior interpretive…
On November 9, 2021, the Basel Committee on Banking Supervision (the “BCBS”) issued a press release that, among other things, reiterated its commitment to developing a “conservative risk-based global minimum…
On November 1, 2021, the President’s Working Group on Financial Markets,[1] the Federal Deposit Insurance Corporation (the “FDIC”) and the Office of the Comptroller of the Currency (collectively, the “Financial…
On July 9, 2021, President Biden issued a sweeping Executive Order (the “Order”)[1] on competition. While the Order is directed to agencies across the federal government and will have wide-ranging…
On May 5, 2021, the Federal Reserve Board (“FRB”) issued for public comment proposed guidelines (“Proposed Guidelines”) for Federal Reserve Banks (“Reserve Banks”) to use in evaluating requests for master…