Search Results: Digital Assets

SEC to Wyoming (Division of Banking): Interpreting Federal Securities Laws and Rules is Our Domain

In early November 2020, the staff of the U.S. Securities and Exchange Commission (“SEC”) Division of Investment Management (“IM Division”), in consultation with the SEC’s “FinHub” staff, issued a statement in response to a No-Action Letter from the Wyoming Division of Banking purporting to provide interpretive guidance on both Wyoming and federal securities laws,…

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OCC Clarifies That Federally Chartered Banks and Thrifts May Engage in Certain Stablecoin Activities

On September 21, the Office of the Comptroller of the Currency (OCC) published an interpretive letter clarifying the authority of national banks and federal savings associations to hold “reserves” on behalf of customers who issue certain stablecoins (cryptocurrency backed by an asset such as a fiat currency, including U.S. dollars or other…

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