From Lexology

US stablecoin regulation: bringing stablecoins into regulatory fold

The President's Working Group on Financial Markets, joined by the Federal Deposit Insurance Corporation and the Office of the Comptroller of the Currency, recently released a report on "stablecoins", which it defines as "digital assets that are designed to maintain a stable value relative to a national currency or other reference assets". This article provides an overview of the report's assertions on stablecoin risks, its recommendations and their related implications for the stablecoin marketplace.

23 November 2021

Cryptocurrency and blockchain regulation in Lao PDR

The rise of cryptocurrency has placed the decentralised system of finance in the spotlight with the recent record high in the price of Bitcoin…

15 November 2021

Initial climate change risk management expectations issued by US OCC

On November 8, 2021, the acting head of the Office of the Comptroller of the Currency (“OCC”), Michael J. Hsu, issued a call to action on climate…

12 November 2021

Non-fungible tokens: To Deal or Not To Deal

In the present day and age, digital investments and digital assets have become the new trend, as it has enabled one to sit comfortably at home and…

12 November 2021

Ireland: Central bank expected to confirm “Fast-Track” filing process for sustainability disclosures

In our recent briefing “Central Bank issues “Dear CEO” letter on supervisory expectations - key points for asset managers”, we highlighted the…

12 November 2021

OCC calls for regulation of crypto banking

On November 3, Acting Comptroller of the Currency, Michael J. Hsu, remarked at the American Fintech Council’s Fintech Policy Summit 2021 about the…

09 November 2021

Turkey publishes draft regulation on digital banking and BaaS

The Turkish Banking Regulatory and Supervisory Authority (BRSA) recently published the Draft Regulation on Operating Principles of Digital Banks and…

08 November 2021

Indonesia: OJK embraces digital banking with new regulations

From 30 October 2021, digital banks in Indonesia will be regulated under two new regulations issued by the OJK, Indonesia's Financial Services…

05 November 2021

LIBOR Transition: Borrower Tax Consequences and Proposed Regulations

The London Interbank Offered Rate (LIBOR), one of the pillars of modern finance, will be phased out after the end of 2021. As of January 1, 2022, no…

04 November 2021

PWG releases stablecoin report and recommendations

On November 1, the U.S. Treasury Department announced that the President’s Working Group on Financial Markets (PWG), with the FDIC and the OCC…

03 November 2021

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