Banking [on] Blockchain: A Legal and Regulatory Primer

(Paperback)

Publishing Details

Classifications

Physical Properties

Description

Providing you with an understanding of blockchain technology, decentralizations, and digital assets within the financial services industry, this guide examines the various regulatory frameworks put in place to govern their use in the banking sector, including anti-money laundering regulations, consumer protection rules, custody issues, and cybersecurity standards.

A collaboration by leading crypto and banking experts, Banking [on] Blockchain:

• Identifies and summarizes arguments for and against blockchain and digital assets and frames the legal issues which have and are likely to arise
• Discusses the legal framework that applies to crypto customers
• Addresses compliance considerations and complications that arise under various federal and state consumer financial laws
• Outlines privacy principles in international and U.S. data privacy laws as they apply to banking and its intersection with blockchain
• Includes in-depth guidance on instituting a robust risk framework for digital asset businesses
• Provides an overview for financial institutions with limited experience in the crypto realm regarding rug pulls, scams, and fraud
• Includes in-depth guidance on instituting a robust risk framework for digital asset custodian and seller
• Analyzes the current substantive international framework for digital asset regulation
• Delves into the jurisdictional challenges arising from blockchain technology and examines implications for legal enforcement and regulatory oversight
• And more!

Author Bio

Sumeet is a Fintech, banking, and blockchain legal leader. He was previously AGC at Coinbase, Deputy GC at Apple Bank, VP at Citizens Bank, a regulatory consultant at PwC, and a litigator at Akerman LLP and Diaz, Reus & Targ LLP. Sumeet has helped build state-of-the-art banking, blockchain, and de-identification tech, including Coinbases Multi-Party Computation wallet, Native Decentralized Exchange, Retail Advanced Trade, and International Exchange. Sumeet led Citizens build of the iPhone Upgrade Program, Microsoft Xbox All Access Program, and other Citizens Pay BNPL solutions. Sumeet recently launched Cloaked and Cloaked Pay, allowing secure, instant identities to protect personal identifiable information and payment details against identity theft, breach, and privacy exposure. Stephen T. Gannon is a financial services industry leader with over 40 years of experience in private practice and in-house counsel positions. He began his career at Hunton & Williams (now Hunton Andrews Kurth) focusing on securities litigation and went on to establish securities practices at other firms. Steve previously served as the General Counsel of Citizens Financial Group, the nations 12th-largest retail and commercial bank. In this position, he served on the Executive Committee and was responsible for all legal, corporate governance, corporate transactions, government relations, regulatory relations, and litigation functions. Prior to Citizens, he served as Head of the Legal Department at Capital One Financial Corporation as well as General Counsel for Wachovia Securities (now Wells Fargo Advisors). He is now a partner at Davis Wright Tremaine LLC. During the course of During the course of his career, Steve has held significant leadership positions in several financial industry organizations including the Securities Industry and Financial Markets Association (SIFMA) (Advisory Council, Co-Chair of Bank Regulation Sub-Committee); Bank Policy Institute (General Counsels Forum); The Clearinghouse Association (Chair, Managing Board); and The Financial Services Roundtable. Steve has spent the last two decades as a senior advisor at the highest levels of strategic decision-making for several of the countrys largest financial institutions. He advises the banking industry on regulatory and strategic matters ranging from public policy and corporate governance to litigation, regulatory compliance, and administrative actions. He also focuses on helping the industry stay abreast of burgeoning fintech and blockchain/digital asset spaces, about which he is a frequent writer and speaker.