Insights

FSOC Releases Digital Asset Report, Signaling Increased Future Scrutiny

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A recent digital asset report (“Report”) issued by the Financial Stability Oversight Council (“FSOC”) criticized many digital asset market activities and market participants for lacking sufficient risk controls or amplifying financial…

Our Op-Ed in the American Banker: An Unworkable Compromise on Stablecoins

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The crypto industry yearns for legislative clarity on stablecoins, but the industry and consumers may be better off under the status quo than a flawed compromise. A one-size-fits-all approach could squash innovation. Expanding Federal…

Federal Reserve Board Provides Additional Information for Banks Interested in Crypto-Related Activities

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Federal Reserve outlines step-by-step process for banks considering crypto-related activities. Despite efforts to add controls to crypto activities, several senators still believe crypto-related activities pose too great a risk for national…

Federal Reserve Board Announces Updated Guidelines for Account Access, But Questions Remain

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Federal Reserve Board introduces three-tiered review system for access to its payments system. Federally insured banks will on average have less stringent reviews, while nonbanks will receive the most diligence and scrutiny. Despite…

Senators Pressure OCC to Rescind Crypto Bank Guidance, Adding Regulatory Uncertainty

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Senators ask the Office of the Comptroller of the Currency (OCC) to rescind interpretive letters clarifying banks’ authority to engage in crypto-related activities. Despite efforts adding controls to crypto activities, senators still…

SEC Seems Set on Blocking Spot Bitcoin ETPs

“We took over this station because the SEC wants to hear from investors like you.” [1] For nearly two months, commuters at Washington D.C.’s Union Station — just steps from the SEC’s offices — were treated to an unusual barrage of…

FDIC Issues Crypto Deposit Insurance Advisory: Implications for Banks and Crypto Companies

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FDIC fact sheet states that only deposits at insured banks and savings associations are insured in the event of an insured institution’s failure. Deposit insurance does not apply to financial products such as stocks, bonds, money market…

Cryptocurrency Investments Expand to 401(k) Accounts

An increasing number of investors are dipping their toes in the cryptocurrency markets. A recent survey found that one in five Americans have invested in, traded or used cryptocurrency. However, a major channel for U.S. investors – 401(k)…

Robert Greene Mentioned in South China Morning Post on China Digital Currency

Robert Greene, Vice President and Chief of Staff at Patomak Global Partners, was mentioned in a South China Morning Post article entitled "China digital currency: leading mobile payment apps Alipay, WeChat Pay install new features to help widen…

Patomak Team Supports FalconX as First Cryptocurrency-focused Swap Dealer with the CFTC

Patomak Global Partners was honored to be a part of the team supporting FalconX as it registered the first cryptocurrency-focused swap dealer with the Commodity Futures Trading Commission (CFTC) and National Futures Association (NFA). FalconX…