On February 15, 2022, House Financial Services Committee member Rep. Josh Gottheimer (D-NJ) released a discussion draft of a bill (the “bill”) that would create bank-like regulation for stablecoin issuers.…
Originally Published: February 17, 2022 Update: February 22, 2022 Last week, in a speech at the U.S Monetary Policy Forum in New York, FRB Governor Lael Brainard continued to tout the…
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…
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…
Although the policy outlook remains uncertain, more policymakers are encouraging bank-like regulation for stablecoin issuers. Following on the November 2021 stablecoin report (the “Stablecoin Report”) issued by the President’s Working…
On February 1, 2022, the Federal Deposit Insurance Corporation (“FDIC”) and the Financial Crimes Enforcement Network (“FinCEN”) opened registration for their “Digital Identity Tech Sprint,” with a focus on digital…
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…
As the digital asset industry continues to grow, regulators also have grown more and more active in the space. In addition, with cryptocurrency and payments as one of the main…
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 —…
The inter-agency crypto-asset policy sprint initiative has finally taken off. This morning the Federal Reserve Board, the Federal Deposit Insurance Corporation and the Office of the Comptroller of the Currency…