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 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 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
The federal banking agencies continue to open the channels for regulated entities to engage in digital asset activities.
By Arthur S. Long, Parag Patel, Pia Naib, and Deric Behar
On May 7, 2025, the Office of the Comptroller of the Currency (OCC) published Interpretive Letter 1184 (a response to an inquiry from a regulated entity) affirming that national banks and federal savings associations (collectively, banks) may provide and outsource cryptocurrency custody and execution services on behalf of
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 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
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