Financial Services Regulatory Developments in Banking, Virtual Currency and Anti-Money Laundering
Sidley Update: FinCEN Issues Government-Wide Priorities for Anti-Money Laundering and Counter-Terrorist Financing, July 1, 2021
Sidley Update: El Salvador’s Adoption of Bitcoin as Legal Tender May Bring Bitcoin Activity Within Scope of Money Transmitter Laws in More States, June 11, 2021
Sidley Update: U.S. Office of Foreign Assets Control Enforcement Actions Highlight Sanctions-Related Risks of Transacting in Digital Currencies, March 11, 2021
Sidley Update: UK FCA Consults on Changes to Strong Consumer Authentication, Dedicated Interfaces, and Guidance on Payment Services, February 24, 2021
Consultation Paper: “Changes to the SCA-RTS and to the guidance in ‘Payment Services and Electronic Money – Our Approach’ and the Perimeter Guidance Manual,” UK Financial Conduct Authority, January 28, 2021
Press Release: “OCC Conditionally Approves Conversion of Anchorage Digital Bank,” Office of the Comptroller of the Currency, January 13, 2021
Sidley Update: OCC Confirms Additional National Bank/Federal Saving Association Stablecoin Authority, at a Price, January 7, 2021
Sidley Update: Congress Rings in the New Year With Substantial Changes to Anti-Money Laundering Laws, January 5, 2021
Enforcement Release: “OFAC Enters Into $98,830 Settlement with BitGo, Inc. for Apparent Violations of Multiple Sanctions Programs Related to Digital Currency Transactions,” Department of the Treasury, December 30, 2020
Sidley Update: FinCEN Proposes Tracking and Reporting Virtual Currency Transactions Involving Unhosted Wallets, December 22, 2020
Sidley Webinar: FinTech Enforcement Priorities: Protecting Investors, the Economy, and Public Safety, December 15, 2020
Sidley Webinar: Blockchain 2020: Hot Topics in Fintech AML, November 2, 2020
Press Release: “Agencies Invite Comment on Proposed Rule Under Bank Secrecy Act,” Boards of Governors of the Federal Reserve System, October 23, 2020
Sidley Update: Office of Foreign Assets Control: Making or Facilitating Ransomware Payments May Violate U.S. Sanctions, October 7, 2020
Sidley Update: OCC Establishes Standards for National Banks Holding Stablecoin Reserves, September 29, 2020
Letter: “OCC Chief Counsel’s Interpretation on National Bank and Federal Savings Association Authority to Hold Stablecoin Reserves,” Office of the Comptroller of the Currency, September 21, 2020
Public Statement: SEC FinHub Staff Statement on OCC Interpretation, September 21, 2020
Sidley Update: FinCEN Seeks Input on Proposed Clarifications of Anti-Money Laundering Program Requirements, September 21, 2020
Sidley Update: Joint Statement Seeks to Provide Additional Guidance Regarding Customer Due Diligence Expectations for Politically Exposed Persons, August 25, 2020
Sidley Update: FinCEN Identifies Key Factors in Evaluating Potential or Actual BSA Violations for Enforcement Actions, August 21, 2020
Press Release: “Federal Reserve Highlights Research and Experimentation Undertaken to Enhance its Understanding of the Opportunities and Risks Associated with Central Bank Digital Currencies,” Boards of Governors of the Federal Reserve System, August 13, 2020
Speech: “An Update on Digital Currencies,” Boards of Governors of the Federal Reserve System, August 13, 2020
Sidley Update: OCC Confirms the Authority of National Banks to Provide Cryptocurrency Custody Services, July 27, 2020
Sidley Update: Partnering with Tech and Fintech Firms: Key EU/UK Regulatory Considerations for the Payments Sector, July 14, 2020
Sidley Update: NYDFS Announces a Series of Virtual Currency Initiatives, July 6, 2020
Letter: “Authority of a National Bank to Provide Cryptocurrency Custody Services for Customers,” Office of the Comptroller of the Currency, July 22, 2020
Sidley Update: The U.S. Office of the Comptroller of the Currency Seeks Comment on Digital Innovation by Banks, June 12, 2020
Cryptoassets and Smart Contracts – UK Offers Legal Clarity, December 4, 2019
Sidley Update: SFC Gives Green Light to Regulation of Virtual Asset Trading Platforms in Hong Kong, November 12, 2019
Regulatory Issues of stablecoins, Financial Stability Board, October 18, 2019
Sidley Update: Conference of State Bank Supervisors Releases Draft Model MSB Law, October 17, 2019
Sidley Update: U.S. Financial Regulators Clarify Oversight of AML/CFT Obligations in Connection with Digital Asset Activities, October 16, 2019
Leaders of CFTC, FinCEN and SEC Issue Joint Statement on Activities Involving Digital Assets, October 11, 2019
Investigating the impact of global stablecoins, Committee on Payments and Market Infrastructures, Bank for International Settlements, October 2019
Sidley Update: Financial Action Task Force Guidance Regarding Digital Asset Exchanges, ICOs, DApps, Wallets and More, July 1, 2019
Sidley Update: Financial Crimes Enforcement Network Guidance Regarding Convertible Virtual Currencies, Wallets, ICOs, DApps and More, May 15, 2019
Sidley Update: New York State Department of Financial Services Challenges OCC Authority on Fintech Charters, September 19, 2018
