- The FDIC has proposed new anti-money laundering, counter-terrorist financing, and sanctions compliance standards for stablecoin issuers aligned with Treasury rules, including requirements administered by FinCEN and OFAC.
- Under the Proposal, the FDIC would not take enforcement action against an
President Trump Issues Executive Order on Fintech Innovation, While FRB Proposes Payment Accounts
- The Order requires all federal financial regulators to review existing rules, guidance, and application processes within 90 days and take affirmative steps to encourage fintech innovation within
The Road Ahead for Fintech Rulemaking
- The FDIC plans to propose an application process for stablecoin issuance by FDIC-regulated institutions by the end of 2025, and is also collaborating with other banking regulators to develop broader prudential standards for all stablecoin issuers as required under the GENIUS
President Trump Issues Executive Order on Fair Banking
Regulators are directed to avoid reputation risk, identify banks that have engaged in unlawful debanking, and take appropriate remedial actions.
By Marc P. Berger, Betty M. Huber, Arthur S. Long, Benjamin Naftalis, Parag Patel, Stephen P. Wink, Douglas K. Yatter, Pia Naib, and Deric Behar
On August 7, 2025, President Trump issued an executive order titled “Guaranteeing Fair Banking for All Americans” (the Order). The Order, described further in an accompanying fact
The GENIUS Act of 2025: Stablecoin Legislation Adopted in the US
The statute’s new regulatory framework for payment stablecoins paves the way for increased digital asset adoption and innovation.
On July 18, 2025, President Trump signed into law the Guiding and Establishing National Innovation for US Stablecoins Act (the GENIUS Act), legislation that establishes a regulatory framework for payment stablecoins. It is the first federal legislation on digital assets to be enacted since President Trump issued an executive order aiming to make the US the “crypto capital of the world.”
First
Banking Agencies Issue Joint Statement on Risk-Management Considerations for Cryptoasset Safekeeping
Banking organizations safekeeping digital assets for customers must do so in a safe and sound manner and in compliance with applicable laws and regulations.
By Arthur S. Long, Parag Patel, Pia Naib, and Deric Behar
On July 14, 2025, the Board of Governors of the Federal Reserve System (FRB), the Federal Deposit Insurance Corporation (FDIC), and the Office of the Comptroller of the Currency (OCC) (collectively, the agencies) issued a joint statement (the Joint Statement) on risk-management
Latham & Watkins Launches US Crypto Policy Tracker
Online resource provides a single source to track legislative and regulatory developments related to blockchain, cryptocurrencies, and digital assets.
By Stephen P. Wink, Yvette Valdez, and Zachary Fallon
Latham & Watkins has launched the US Crypto Policy Tracker, a new online resource that provides up-to-date information, analysis, and source links on the latest legislative and regulatory developments in the rapidly evolving blockchain, cryptocurrency, and digital asset landscape in the United States.
Since the new administration took office
FRB Rescinds Previous Guidance Regarding Crypto Activities in the Banking Sector
FRB eases crypto restrictions on supervised entities in alignment with the new administration’s support for the digital asset industry.
By Arthur S. Long, Pia Naib, and Deric Behar
On April 24, 2025, the Board of Governors of the Federal Reserve System (FRB) announced that it was rescinding guidance for banks issued in 2022 related to digital asset and stablecoin activities. It also announced that, together with the Federal Deposit Insurance Corporation (FDIC), it is joining the Office of
FDIC Removes Roadblocks to Crypto Activities in the Banking Sector
New FDIC guidance permits crypto activities by supervised institutions without prior approval, emphasizing risk management and compliance with applicable laws and regulations.
By Arthur S. Long, Parag Patel, Pia Naib, and Deric Behar
On March 28, 2025, the Federal Deposit Insurance Corporation (FDIC) issued a Financial Institution Letter (FIL-7-2025) that provides new guidance for FDIC-supervised institutions engaging in or seeking to engage in crypto-related activities (the Guidance). Specifically, the Guidance clarifies that FDIC-supervised institutions can engage in
Proposed Bill Would Reform Bank Exam Processes
A recent bipartisan bill, if enacted, would particularly benefit small lenders and bank-fintech partnerships by promoting transparency, appellate rights, and examiner accountability.
By Arthur S. Long, Parag Patel, Barrie VanBrackle, Pia Naib, and Deric Behar
On December 14, 2023, a bipartisan group of senators introduced the Fair Audits and Inspections for Regulators’ Exams Act (FAIR Exams Act), which seeks to increase transparency in the bank examination process. The proposed legislation would require examining agencies to act quickly and transparently, while creating an independent review and appeals process under the Federal Financial Institutions Examination Council (FFIEC),[1] which would allow banks to seek independent review of material examiner findings.