The Federal Reserve Board (“FRB”) rarely issues denials for applicants to become members of the Federal Reserve System. Senator Elizabeth Warren has even criticized the FRB for their number of approvals – although in the context of bank mergers. Last Friday Custodia Bank (state chartered in Wyoming) received such a denial. Custodia Bank was formed to be “a compliant bridge between digital assets and the U.S. dollar payments system” and a digital asset custodian.
One of the difficulties digital asset companies, like Custodia Bank, have faced is being able to access the ...
For those tracking developments impacting the crypto-asset space, the summer has been far from slow and leisurely. Multiple industry alerts flow daily with news of new legislative proposals, enforcement actions, and other events or issues impacting the industry. The news is inevitably accompanied by calls for greater legal certainty regarding crypto-asset characterization and clarity around the regulatory framework governing the industry. While news flows quickly, the pace of substantive developments, however, has been frustratingly slow for many. Unmoved by demands for ...
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MVA White Collar Defense, Investigations, and Regulatory Advice Blog Updates
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- Takeaways from the 2023 South Asian Bar Associate Conference
- The Federal Reserve, FDIC and OCC Issue Final Guidance on Risk Management in Third-Party Relationships
- Tanisha Palvia and Alli Davidson co-author article: SCOTUS clarifies intent requirement for False Claims Act cases