Posts Tagged ‘Cryptocurrency’

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Federal Reserve Issues Supervisory Letter on Crypto Activities for Banks

Similar to what the OCC issued in December 2021, in August 2022, the Federal Reserve Board (FRB) issued a Supervisory Letter outlining the steps FRB member banks should take prior to engaging in crypto-asset-related activities, such as assessing whether such activities are legally permissible and determining whether any regulatory filings are required. Additionally, the Supervisory […]

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An Interview With Two Billionaires In 2042

A metaphorical interview about the collapse of NFTs and what it possibly means for the future. Good morning.  Today, financial correspondent I.D. Futchermann will be interviewing legendary finance executive Richard Tan Yu. I.D Futchermann: Let’s start with you, Richard. How did you get started? Richard Tan Yu: Well D, after graduating as a history major […]

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Becoming a “Bahama Mama” Crypto-Style: A Closer Look at The Digital Asset Landscape in The Bahamas

Members of Perficient’s Digital Asset Team have advised followers in multiple online articles about the digital asset revolution and relevant regulations affecting the same in the United States.  Some of these online articles can be found here: OCC Provides Roadmap for National Banks and Savings Associations To Conduct Crypto Activities – Perficient Blogs The Pros […]

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The Architecture of Stablecoins

In a recent speech and interview with the Institute of International Economic Law at Georgetown University, current Acting Comptroller of the Currency Michael J. Hsu gave numerous remarks on the architecture of stablecoins. According to the Comptroller, the architecture for a stablecoin system can be viewed through the lens of three key policy issues: Stability […]

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U.S. Regulations to Consider When Managing a Cryptocurrency Fund

This piece was written in collaboration with Chandni Patel, Director of Financial Services and member of Perficient’s Digital Assets Working Group. Our Digital Assets Team has blogged in the past about the regulatory landscape facing cryptocurrency from a banking perspective (OCC Provides Roadmap for National Banks and Savings Associations To Conduct Crypto Activities, NY Federal […]

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Highlights from John Glen’s Keynote Speech at the Innovate Finance Global Summit on Crypto

John Glen, Economic Secretary to the Treasury of the United Kingdom, delivered the keynote speech at the Innovate Finance Global Summit held in London last month. Glen began his speech by stressing the enormous contributions financial services institutions, particularly “fintech unicorns,” have made to the UK; the UK is the leading European fintech hub and […]

NFT Artist

Diving Into Digital Assets: The Business Side of NFTs

It’s 2022, and it seems all the rage in media and digital asset news is surrounding non-fungible tokens (NFTs) and the Metaverse. NFTs have been around since at least 2017 when the OG CyberPunks launched. Yet, 2021 was the defining year that changed everything. It was 2021 when digital artist Mike Winkelmann, aka Beeple, sold […]

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United Kingdom Non-Fungible Token: Coming Soon

While there are many observers and consultants to help U.S. clients monitor cryptocurrency and crypto-tech developments, Perficient is committed to providing current and potential clients news of crypto developments around the world. In early April, during Fintech Week 2022, John Glen, who serves as Economic Secretary to the Treasury for the United Kingdom, addressed the […]

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NY Federal Reserve Evaluates Stablecoin Frameworks

Cryptocurrency continues to grow, and Perficient is committed to helping financial services clients continue to understand and navigate this fast-changing part of the economy. Over the last 90 days, we have let clients know about the federal banking regulators planned cryptocurrency road map, explained what steps national banks need to take to begin crypto activities, […]

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Acting Comptroller of the Currency Wants Crypto Regulated

Acting Comptroller of the Currency Michael J. Hsu spoke in late January at the British-American Business Transatlantic Finance Forum Executive Roundtable regarding the regulation of crypto-assets, including stablecoins.  Mr. Hsu began his speech by noting how cryptocurrency has gone “mainstream with consumers,” noting that 16% of American adults claim to have owned, traded, or used […]

The Pros and Cons of a Potential U.S. Central Bank Digital Currency (CBDC)

On January 20, 2022 the Federal Reserve released a discussion paper that examined both the pros and cons of a potential U.S. Central Bank Digital Currency (CBDC). The Federal Reserve invited comments from the public, in particular regarding whether and how a CBDC could improve America’s safe and effective domestic payments system. For the purpose […]

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How Are Leading Financial Institutions Navigating the Cryptocurrency Market? 4 Highlights From 2021

Cryptocurrencies, such as Bitcoin, Ethereum, Bitcoin Cash, Litecoin, Polkadot, and many more, are taking the investment world by storm. According to CoinGecko, the cryptocurrency market is worth more than $2.35 trillion (as of 01/03/22), and financial institutions, if they haven’t already, are wondering whether they should take a piece of the pie. Although this market […]

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