Global Fintech & Digital Assets Blog

Tag Archives: federal reserve

Responsible Financial Innovation Act Offers Clarity, Safeguards for Digital Assets — Banking and Payment Stablecoins

The RFIA could make it easier for fintechs dealing in digital assets and stablecoins to access Federal Reserve bank services.  By Alan W. Avery, Pia Naib, and Deric Behar Latham & Watkins presents a blog series on the Responsible Financial Innovation Act, which was introduced in the US Senate on June 10, 2022, to create a framework for digital assets, … Continue Reading

Federal Reserve Takes Measured Approach to Central Bank Digital Currency

In a long-awaited paper, the FRB continues its exploratory approach and emphasizes the need for congressional support. By Alan W. Avery, Pia Naib, and Deric Behar On January 20, 2022, the Board of Governors of the Federal Reserve System (FRB) published its long-awaited discussion paper (the Paper) on the potential benefits and risks of issuing … Continue Reading

The Systemic Importance of Cloud-Based Service Providers to Banks

US lawmakers urge FSOC to designate cloud-based storage systems used by major banks as systemically important financial market utilities. By Alan W. Avery, Victoria McGrath, and Pia Naib In an August 22, 2019, letter addressed to Treasury Secretary Steven Mnuchin, in his capacity as chair of the Financial Stability Oversight Council (FSOC), Congresswoman Katie Porter … Continue Reading
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