Tag: cryptocurrency

Client Alert: Navigating Crypto Regulations in Singapore

As the world adopts varying degrees of acceptance towards the crypto ecosystem, Singapore has positioned itself as a crypto-friendly environment. Crypto.com, Triple A Technologies, and Independent Reserve are amongst the many Virtual Asset Service Provider (VASPs) drawn to the Lion City’s strong economy, stability, and high rate of cryptocurrency adoption. These favorable conditions for VASPs […]

Client Alert: Joint Agency Statement on Crypto-Asset Risks to Banking Organizations

On January 3, 2023, the Federal Reserve, FDIC, and OCC (“the agencies”) released a joint statement on crypto-asset risks to banking organizations. The statement highlights myriad risks posed by banking sector exposure to the cryptocurrency market, including: The agencies emphasize that, although banking organizations are not prohibited or discouraged from conducting business with particular classes […]

Client Alert: NYSDFS Virtual Currency Guidance for Banking Organizations

Recent New York State Department of Financial Services (“NYSDFS”) guidance explains that DFS-regulated financial institutions (“Covered Institutions”) currently offering, or considering offering, virtual currency-related products and services must meet a highly prescriptive list of requirements before offering new or amended virtual currency products.  These requirements, explicitly delineated for the first time, will serve as a […]

FINTECH.TV: Samar Pratt on BNY Mellon’s New Digital Asset Custody Platform

BNY Mellon, the oldest bank in the United States, is now open for the crypto business. This makes them the largest US bank to safeguard digital assets and traditional investments. Samar Pratt, President of Advisory Solutions based in Exiger’s London office, joins FINTECH.TV‘s Remy Blaire to discuss how this shake-up will affect native crypto companies […]

Stablecoins and Future Safeguards

Pending regulation could cause major challenges for Banks and other Financial Institutions.   Stablecoins are quickly joining the global conversation about cryptocurrencies, but what exactly are they and what does their pending governmental regulation mean for issuers and others involved in the industry?  Stablecoins are a type of digital asset that are designed to maintain […]

Client Alert: THE RENEWED SPOTLIGHT ON CRYPTO

April 6, 2022 Overview Last month, the FCA offered a warning on illegal crypto ATMs operating in the UK, highlighting that none of the crypto-assets firms registered with the FCA have been approved to offer ATM services. The Authority has said they will be contacting operators and instructing that the machines be shut down.Crypto-asset firms […]