The New York Department of Financial Services (DFS) has released guidance that expands the scope of virtual currency activity for which New York banking organizations need prior approval.
Today the Federal Reserve Board (the Board) adopted its final rule implementing the LIBOR Act. The final rule establishes SOFR-based Board selected benchmark replacements for so called ?...
While some critics question the value of the metaverse and digital assets, including non-fungible tokens, or NFTs, the recent rise of consumer and market interest in these asset classes h...
Davis Polk partners Dan Gibbons, Joe Hall and Gabe Rosenberg authored “Quest for regulatory clarity over digital assets in the U.S.” in Financier Worldwide. The article discusses the ...
Davis Polk partners Paul Marquardt and Gabe Rosenberg and counsel Will Schisa authored “Digital assets and sanctions compliance: Tornado Cash and beyond” in International Financial La...
The SEC’s amendments modernize recordkeeping requirements for broker-dealers, while applying the revised requirements to security-based swap dealers for the first time.
The FSOC report assesses the financial stability risks of the crypto-asset ecosystem using a framework for vulnerabilities and shocks pioneered by the Federal Reserve, and makes several r...
Addressing climate change is one of the highest priorities of the Biden Administration, and recent legislation in the United States means that regulatory action by the banking and other a...
Two bills recently introduced in the Senate with cross-aisle support aim to give the CFTC more regulatory sway over digital assets. But neither would solve the fundamental riddle of wheth...
Here are our key takeaways from the Basel Committee’s final Principles for the Effective Management and Supervision of Climate-Related Financial Risks (the “Basel Principles”).
