Troutman Sanders

SEPTEMBER 25, 2023

On September 20, the Senate Banking, Housing, and Urban Affairs Committee held a hearing on artificial intelligence (AI) in financial services. In his opening statement, Chair Sherrod Brown (D-OH) alleged that AI could cause significant changes in our financial system. For more information, click here. 1020.210(b).

Financial services 52

Financial services Loans Banks Debt collector 52

Troutman Sanders

JANUARY 23, 2023

Department of Justice (DOJ) charged Anatoly Legkodymov, the founder of Hong Kong-based cryptocurrency exchange Bitzlato, with conducting a money transmitting business that transmitted illicit funds and with failing to develop and implement an effective KYC/AML program in violation of the Bank Secrecy Act. For more information, click here.

Financial services 52

Financial services Financial Institution Government Banks 52

Troutman Sanders

JUNE 21, 2022

On June 8, the New York State Department of Financial Services (NYDFS) issued new “ Guidance on the Issuance of U.S. Stablecoin reserves must be held in specific asset categories, including government money-market funds and deposit accounts at U.S.

Financial services 59

Financial services Collateral Government 59