On October 4, 2022, the US Financial Stability Oversight Council (FSOC) released its Report on Digital Asset Financial Stability Risks and Regulation (FSOC Report). Weighing in at over 120 pages, the FSOC Report provides a thorough discussion of the regulation of crypto-assets and their potential financial stability risks. Most importantly, the report sets forth several policy reform recommendations and, in doing so, provides a clearer view of the Biden administration’s policy priorities with respect to crypto-assets. In this Legal Update, our team breaks down highlights from the report and assesses the report’s impact on the legislative and regulatory road ahead for digital assets.
Read the complete Legal Update.