In this special joint episode of Payments Pros and The Crypto Exchange, Ethan Ostroff, James Kim, and Carlin McCrory discuss the Consumer Financial Protection Bureau’s (CFPB) proposed rule to supervise large tech companies and other providers of digital wallets and payment apps. The proposed rule asserts that digital assets are “funds” subject to the Dodd-Frank Act and other federal consumer financial laws and regulations, which would expand the CFPB’s supervisory powers to examine companies facilitating crypto and other digital asset transactions.
The Crypto Exchange
Unraveling the Crypto Code: California’s New DFAL Explained
In this episode of The Crypto Exchange, Troutman Pepper Partner Ethan Ostroff welcomes his colleague Addison Morgan to discuss California’s Digital Financial Assets Law (DFAL), set to take effect on July 1, 2025. The DFAL provides a comprehensive framework for licensing and overseeing businesses that engage in digital financial business activities with residents of California.
Analyzing the Treasury’s Illicit Finance Risk Assessment of Decentralized Finance
In this episode of The Crypto Exchange, Troutman Pepper Partner Ethan Ostroff welcomes his colleagues Mike Lowe and Matt Orso to discuss the U.S. Department of Treasury’s Illicit Finance Risk Assessment of Decentralized Finance (DeFi), which assesses how illicit actors are abusing DeFi services, as well as vulnerabilities unique to DeFi services.
Current Landscape of Cryptocurrency Regulation and Enforcement
In this episode of The Crypto Exchange, our host Ethan Ostroff joins his colleagues Chris Willis and Trey Smith to discuss the current landscape of cryptocurrency regulation and enforcement. Our team offers insights to the industry about various topics, including:
Turning up the Heat – A Look at the FTC’s Groundbreaking Fine Against Bankrupt Digital Asset Services Provider Celsius Network LLC
In this episode of The Crypto Exchange, Troutman Pepper Partner Ethan Ostroff welcomes his colleagues Kim Phan and Addison Morgan to discuss the recent enforcement actions brought by the Federal Trade Commission (FTC) against Celsius Network and its co-founders. In addition to permanently banning Celsius Network from consumers’ assets, the FTC also fined the company a near record-breaking $4.7 billion.
Crypto As “Funds” Under the EFTA – How a Court’s Recent Ruling May Impact Virtual Currency Platform Operators
In this episode of The Crypto Exchange, Troutman Pepper Partner Ethan Ostroff welcomes his colleagues Carlin McCrory and Addison Morgan to discuss a recent case in the Southern District of New York that has been in the news, Rider v. Uphold HQ. In Rider, the court concluded that virtual currency platform operators may be subject to the Electronic Fund Transfer Act (EFTA) and Regulation E.
Crypto Enforcement Actions
In this episode of The Crypto Exchange, Troutman Pepper Partner Ethan Ostroff welcomes his colleague Mike Lowe to discuss crypto enforcement actions, including criminal enforcement actions related to cryptocurrency. Mike shares his experience in crypto enforcement during his lengthy tenure as a federal prosecutor.
Autorenewals
Most consumers have signed up for subscriptions, automatic deliveries, or free trials that convert into a paid subscription. In this episode of The Crypto Exchange, Carlin McCrory welcomes colleagues Mark Furletti and Jill Dolan to discuss legal and regulatory developments related to autorenewals — the recurring payments for these subscriptions. Our panel examines state and federal laws pertaining to negative option offers, including Section 5 of the FTC Act; recent actions by state attorneys general on autorenewal and cancellation policies; and how companies can ensure compliance with relevant requirements.
Crypto Year in Review 2022: Crypto Enforcement and the U.S. Treasury
In the fourth and final segment of our four-part Crypto Year in Review series, Ethan Ostroff, Keith Barnett, and Carlin McCrory discuss how the U.S. Treasury Department — including the Office of Foreign Asset Control (OFAC) and Financial Crimes Enforcement Network (FinCEN) bureaus — functions in the digital asset space. Our speakers examine how these financial services regulators seek to deter criminal activity, such as money laundering, financing of terrorist activities, AML/CFT violations, and sanctions compliance in the digital asset space in 2022, and what we can expect in 2023.
Crypto Year in Review 2022: State-Level Regulatory Developments in the Digital Asset Market
In the third segment of our four-part Crypto Year in Review series, Ethan Ostroff, Keith Barnett, and Addison Morgan discuss state-level regulation of interest-bearing cryptocurrency deposit products. Our speakers explain these product types and cover how state attorneys general and other regulators seek to protect consumer interests amid the rapidly evolving digital asset landscape.