House Financial Services Committee Chair Patrick McHenry (R-NC) and a bipartisan group of legislators asked banking regulators to clarify "through guidance and other actions" that an SEC Staff Accounting Bulletin, which describes how a custodian must account for digital assets, is not enforceable.
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In a letter to the Federal Reserve, the FDIC, the OCC and the NCUA, Senator Cynthia M. Lummis (R-WY) and Representative Patrick McHenry (R-NC) criticized SEC guidance on the accounting treatment of cryptocurrency assets by custodians.
Comments on a CFPB proposal to establish a public registry of terms and conditions on form contracts that waive or limit consumer rights and protections are due by April 3, 2023.
The New York State Department of Financial Services issued guidance on sound custody and disclosure practices for crypto assets in order to protect customers in the event of a bank insolvency.
The CFPB proposed a registry designed to monitor the use of terms and conditions on form contracts that waive or limit consumer rights and protections.