Shows
The Crypto ExchangeNFTs on Trial: The Yuga Labs Verdict and What It Means for the Digital FrontierIn this episode of The Crypto Exchange, hosts Ethan Ostroff and Genna Garver welcome Glenn Pudelka and Straat Tenney from the firm's Intellectual Property Practice Group. They discuss the Ninth Circuit's pivotal decision in Yuga Labs v. Ryder Ripps, which recognizes NFTs as goods under U.S. trademark law. This ruling is a significant advancement in extending intellectual property protections into the digital realm, impacting brand owners and creators in virtual marketplaces.The conversation covers the court's decision to overturn a $9 million judgment against Ryder Ripps, citing a lack of consumer confusion with Yuga Labs' Bored Ape...
2025-11-0439 minThe Crypto ExchangeThe Future of Bank-Fintech Collaborations in Digital FinanceIn this special crossover episode of The Crypto Exchange and Payments Pros podcasts, hosts Ethan Ostroff and Carlin McCrory, along with James Stevens, co-leader of Troutman Pepper Locke's Financial Services Industry Group, explore the dynamic landscape of partnerships between financial institutions and digital asset firms. They discuss the increasing demand for payment enablement, highlighting how these institutions facilitate fiat currency transactions through strategic collaborations with digital asset providers.The episode also examines the GENIUS Act's impact, which mandates stablecoin reserves to be backed by liquid assets, creating new opportunities for financial institutions to offer deposit services. Additionally...
2025-10-1518 min
Payments Pros – The Payments Law PodcastThe Future of Bank-Fintech Collaborations in Digital FinanceIn this special crossover episode of The Crypto Exchange and Payments Pros podcasts, hosts Ethan Ostroff and Carlin McCrory, along with James Stevens, co-leader of Troutman Pepper Locke's Financial Services Industry Group, explore the dynamic landscape of partnerships between financial institutions and digital asset firms. They discuss the increasing demand for payment enablement, highlighting how these institutions facilitate fiat currency transactions through strategic collaborations with digital asset providers.The episode also examines the GENIUS Act's impact, which mandates stablecoin reserves to be backed by liquid assets, creating new opportunities for financial institutions to offer deposit services. Additionally...
2025-10-1518 minThe Crypto ExchangeNavigating the New Frontier of Digital Assets and TokenizationIn this episode of the Crypto Exchange, host Genna Garver is joined by David Labhart from ACA Group to discuss the dynamic landscape of digital assets and blockchain technology. David, who brings extensive experience from his previous role as an attorney advisor at the SEC, shares insights on the evolving regulatory environment surrounding digital assets. The conversation highlights the increasing importance of digital assets for traditional investment managers, including private fund managers, as the U.S. financial markets move toward blockchain integration. Genna and David explore the implications of recent regulatory developments, such as the GENIUS Act, which establishes...
2025-10-0923 minThe Crypto ExchangeNavigating the GENIUS Maze: Sanctions and AML Adventures in CryptoIn this episode of The Crypto Exchange, hosts Ethan Ostroff and Genna Garver are joined by their colleague Pete Jeydel to explore the implications of the GENIUS Act on sanctions, anti-money laundering (AML), and efforts to combat the financing of terrorism within the stablecoin sector. The discussion focuses on the act's goal to create a regulated ecosystem for payment stablecoin issuers, known as PPSIs, by transitioning offshore activities to U.S. jurisdiction. This strategic shift is anticipated to strengthen the government's capacity to enforce AML and sanctions compliance.Despite the framework established by the GENIUS Act, many...
2025-09-1639 minThe Crypto ExchangeEnsuring Stability: The GENIUS Act's Impact on Stablecoin InsolvencyIn this episode of The Crypto Exchange, Ethan Ostroff welcomes Deb Kovsky and Alex Rovira, partners in Troutman Pepper Locke's Bankruptcy and Restructuring practice, to explore the GENIUS Act's approach to stablecoin insolvency. The discussion highlights the complexities and gaps within the current regulatory framework.The episode provides a historical perspective on crypto bankruptcies, examining the GENIUS Act's amendments to the bankruptcy code designed to safeguard stablecoin holders. It addresses the practical challenges of implementing these changes, particularly regarding the automatic stay and the exclusion of reserves from the debtor's estate.Deb and Alex offer...
2025-09-0936 minThe Crypto ExchangeDecoding Crypto Legislation: GENIUS Moves and Clarity PathsIn this episode of The Crypto Exchange, Genna Garver is joined by Tom Tilton from Troutman Strategies to discuss key legislative developments in the crypto sector, focusing on the GENIUS Act and the Clarity Act. They begin by highlighting the GENIUS Act's influence on stakeholders, including traditional financial institutions like banks and credit card companies, as they navigate the evolving regulatory landscape.The conversation then shifts to the Clarity Act, which has passed the House and is under Senate review. This legislation seeks to establish a comprehensive framework for digital asset market structure, addressing regulatory oversight and...
2025-09-0522 minThe Crypto ExchangeCrypto's Capital Markets Revolution: Insights From GSR's Josh RiezmanIn this episode of The Crypto Exchange, Genna Garver is joined by Josh Riezman, chief strategy officer and head of U.S. legal at GSR, to discuss the evolving landscape of digital assets and the regulatory environment surrounding them.Josh, with his extensive background in both traditional finance and crypto, offers insights into the increasing demand for cryptocurrencies, driven by both native crypto markets and traditional securities investors. He highlights the trend of digital asset treasury strategies among NASDAQ-listed companies, emphasizing the strategic shift from Bitcoin to other assets like Ethereum and Solana.The conversation...
2025-08-2724 minThe Crypto ExchangeInstitutional Adoption, Tax Challenges, and What's Next for Crypto in the US — Insights from KPMG's Tony TuthsIn this episode of The Crypto Exchange, Genna Garver is joined by Tony Tuths, senior partner and leader of the Digital Asset Group at KPMG, to discuss recent legislative developments in digital assets. They examine the GENIUS Act, which aims to enhance stablecoin market stability through authorized issuers and audited reserves, and the CLARITY Act, pending Senate approval, which proposes a regulatory framework for digital assets, dividing oversight between the SEC and CFTC based on decentralization.The conversation highlights the growing institutional adoption of digital assets, with major financial institutions preparing to issue stablecoins and improve digital...
2025-08-1831 min
The Law Firm Growth Acceleration PodcastChapter 8 - From Idea to Implementation – Install Growth Systems That Actually Get DoneIn this episode of the Law Firm Growth Acceleration Podcast, we explore awareness marketing—the long game that builds a brand clients trust before they ever call your office.Learn how immigration attorney John went from "hope and pray" marketing to getting hundreds of leads a day by using free content to educate and engage. Discover why YouTube is your greatest long-term asset, how to build authentic videos that create trust, and why the “gap of disappointment” separates successful law firm marketers from everyone else.We’ll cover bo...
2025-08-0752 minThe Law Firm Growth Acceleration PodcastEp. 13 - Lawyers Who Wear LESS HAT make MORE MONEY (and have more free time)In this episode of the Law Firm Growth Acceleration Podcast, host Bill Hauser is joined by legal entrepreneur and systems expert Ethan Ostroff for a deep dive into one of the most overlooked growth strategies in law firm ownership—wearing fewer hats.Bill and Ethan unpack the shift from lawyer to visionary, offering tactical insights on how to step back from day-to-day legal tasks and build a business that grows without sacrificing your sanity. From EOS roles like visionary/integrator to hiring and culture systems, you'll learn how to stop clinging to tasks that no lo...
2025-07-2553 minThe Crypto ExchangeUnlocking Crypto's Future: Insights From Coinbase's John D'AgostinoIn this episode of the Crypto Exchange, Genna Garver is joined by John D'Agostino, head of strategy for Coinbase Institutional, to discuss the significant developments in the crypto industry following the Senate's approval of the GENIUS Act and the anticipated CLARITY Act. These legislative moves aim to establish a regulatory framework for stablecoins and clarify the status of digital assets in the U.S.John and Genna highlight the release of pent-up momentum in the crypto space, previously hindered by a challenging regulatory environment. They discuss the potential for the U.S. to become a leader in...
2025-06-2631 min
Life Beyond the BriefsThree Takeaways from the Hona Disrupt ConferenceTechnology should empower—not replace—meaningful client connections in the legal profession. At Hona's Disrupt Conference, the prevailing wisdom wasn't about using AI to minimize client interactions, but rather leveraging automation to create more time for genuine human connection. As Josh Sanford of Lexamica powerfully stated, the goal should be to "waste more time on the phone with clients" so that when critical decisions arise, they trust your guidance.The most innovative law firms are implementing strategic approaches to enhance client touchpoints. Attorney Ethan Ostroff has introduced a dedicated scheduler position focused solely on client contact and docu...
2025-05-1722 minPayments Pros – The Payments Law PodcastNavigating the Future of Payment Stablecoins: Legislative Updates and Market ImplicationsIn this special crossover edition of the Payments Pros and Crypto Exchange podcast, Carlin McCrory is joined by colleagues Alex Barrage and Ethan Ostroff to discuss recent legislative updates surrounding payment stablecoins. The group begins by exploring the advantages of payment stablecoins, such as their 24/7 availability and programmability, and the merits of having robust competition for stablecoin issuance and use cases.They also highlight the introduction of the Anti-CBDC Surveillance State Act and the potential for states like Wyoming to issue their own stablecoins. The discussion covers the Securities and Exchange Commission's recent statement on USD-backed stablecoins...
2025-04-2433 minThe Crypto ExchangeNavigating the Future of Payment Stablecoins: Legislative Updates and Market ImplicationsIn this special crossover edition of the Payments Pros and Crypto Exchange podcast, Carlin McCrory is joined by colleagues Alex Barrage and Ethan Ostroff to discuss recent legislative updates surrounding payment stablecoins. The group begins by exploring the advantages of payment stablecoins, such as their 24/7 availability and programmability, and the merits of having robust competition for stablecoin issuance and use cases.They also highlight the introduction of the Anti-CBDC Surveillance State Act and the potential for states like Wyoming to issue their own stablecoins. The discussion covers the Securities and Exchange Commission's recent statement on USD-backed stablecoins...
2025-04-2433 minThe Crypto ExchangeNavigating 2025: Trends in OFAC and DOJ Enforcement for Digital AssetsIn this episode of Crypto Exchange, host Ethan Ostroff is joined by his colleagues Pete Jeydel and Peter Leary to discuss trends and lessons learned from recent civil enforcement actions by the Treasury Department's Office of Foreign Assets Control (OFAC) and from Department of Justice (DOJ) criminal prosecutions related to digital assets.Their discussion covers key compliance lessons for fintech and digital asset companies, including some of the nuances of a robust screening process for companies in this space. They delve into the Binance case, illustrating how noncompliance can escalate from civil to criminal enforcement. The episode...
2025-04-0833 minThe Crypto ExchangeNavigating 2025: Federal Legislative and Regulatory Updates on Stablecoins and Decentralized FinanceIn this episode of The Crypto Exchange, Ethan Ostroff and Alexandra Barrage are joined by Matt Bornfreund to discuss recent activities by federal banking regulators and federal legislative developments impacting the digital assets industry.They examine the emergence of new banks and innovative business models within the banking sector, highlighting their impact on the digital asset landscape. They also delve into the rescission of SAB 121, which had previously limited banks' ability to maintain custody of crypto assets, and the evolving regulatory stance under the new administration.The discussion also covers the implications of recent stablecoin...
2025-03-2631 minThe Crypto ExchangeNavigating 2025: The SEC's Evolving Role in Cryptocurrency EnforcementIn this episode of Crypto Exchange, Ethan Ostroff and Alexandra Barrage are joined by partners Joanna Cline and Jay Dubow to discuss the evolving landscape of the SEC's enforcement actions involving cryptocurrencies.The episode highlights the demand for clear regulatory guidelines in the digital asset space, particularly regarding the classification of tokens and cryptocurrencies as securities. The recent establishment of the SEC's cryptocurrency task force and public statements from key figures, including SEC commissioners and the newly nominated SEC chair Paul Atkins, signal a potential shift in regulatory approach.The discussion covers the SEC's historical...
2025-03-1928 min
The Consumer Finance PodcastNavigating 2025: Regulatory Shift to the States and the FTC in the Digital Asset LandscapeIn this special joint edition of the Crypto Exchange and the Consumer Finance Podcast, host Ethan Ostroff is joined by colleagues James Kim and Chris Willis to discuss the anticipated regulatory approaches to digital assets by the Consumer Financial Protection Bureau (CFPB), Federal Trade Commission (FTC), and state agencies following the recent change in administration in Washington.The group begins the discussion with the CFPB's actions in the end of 2024 and into 2025, particularly focusing on the digital payments larger participant rule (LPR). The discussion shifts to the FTC's expected role in addressing consumer fraud in the crypto...
2025-03-1324 minThe Crypto ExchangeNavigating 2025: Regulatory Shift to the States and the FTC in the Digital Asset LandscapeIn this special joint edition of the Crypto Exchange and the Consumer Finance Podcast, host Ethan Ostroff is joined by colleagues James Kim and Chris Willis to discuss the anticipated regulatory approaches to digital assets by the Consumer Financial Protection Bureau (CFPB), Federal Trade Commission (FTC), and state agencies following the recent change in administration in Washington.The group begins the discussion with the CFPB's actions in the end of 2024 and into 2025, particularly focusing on the digital payments larger participant rule (LPR). The discussion shifts to the FTC's expected role in addressing consumer fraud in the crypto...
2025-03-1223 minThe Crypto ExchangeUnpacking the Fifth Circuit's Landmark Tornado Cash DecisionIn this episode of The Crypto Exchange, Ethan Ostroff is joined by colleagues Pete Jeydel and Matt Orso to discuss a recent landmark decision from the Fifth Circuit regarding Tornado Cash. The court ruled that the Office of Foreign Assets Control (OFAC) exceeded its authority by sanctioning immutable smart contracts created by Tornado Cash. This decision has significant implications for the regulation of decentralized finance (DeFi) technologies under the International Emergency Economic Powers Act (IEEPA).The group discusses the Fifth Circuit's analysis, highlighting the court's application of the Loper Bright decision and its refusal to defer to...
2025-01-1634 minThe Crypto ExchangeUnderstanding the DFPI's Proposed Rules: A Deep Dive Into California's Digital Financial Assets LawIn this special crossover episode of the Payments Pros and Crypto Exchange podcasts, our hosts are joined by colleague Alexandra Steinberg Barrage to discuss California's Department of Financial Protection and Innovation’s proposed rulemaking under the Digital Financial Assets Law (DFAL).The group discusses various aspects of the new cryptocurrency licensing regime, including licensure exemptions, required disclosures, conditional licensing, and digital asset kiosk requirements. They provide an overview of the DFAL, highlighting its broad licensing and enforcement framework, as well as recent legislative updates extending licensure deadlines. Comparisons are drawn between DFAL and New York's BitLicense, emphasizing th...
2024-12-1726 min
Moving the Metal: The Auto Finance PodcastLemon Law Shakeup: Rodriguez vs. FCA US Has Unexpected ResultIn this episode, Brooke Conkle and Chris Capurso, attorneys in the firm's Consumer Financial Services practice, are joined by Partner Ethan Ostroff to discuss the recent Supreme Court of California decision in Rodriguez vs. FCA US. They explore recent cases from the court that impact auto finance, this case's background, the court's reasoning, and the significant impact this ruling may have on manufacturers, dealers, and auto finance companies. The discussion also touches on the broader implications for consumer protection laws in California and the potential shift in legal strategies for both plaintiffs and defendants in the auto finance industry.
2024-11-2619 minThe Crypto ExchangeNavigating the Dark Side of Crypto: Crime, Compliance, and Consumer ProtectionIn the latest episode of The Crypto Exchange, host Ethan Ostroff is joined by colleagues Brett Broczkowski and Mike Lowe to discuss the intersection of crime and cryptocurrency, with a focus on the challenges financial institutions face in this space. The conversation highlights the significant rise in crypto-related crimes, with reported losses exceeding $5.6 billion in 2023. The group discusses the vulnerability of older adults to these crimes and the increasing enforcement efforts by federal agencies, including the Securities and Exchange Commission and the U.S. Department of Justice, following President Biden's executive order in 2022. The podcast delves into various types...
2024-11-1241 minThe Crypto ExchangeCrackdown on DeFi? An Examination of the CFTC's Enforcement Action Against UniswapIn the latest episode of The Crypto Exchange, host Ethan Ostroff is joined by Addison Morgan to discuss the recent CFTC enforcement action against Uniswap. The CFTC alleged that Uniswap violated the Commodity Exchange Act (CEA) by facilitating retail commodity transactions on behalf of non-eligible contract participants (i.e., retail consumers) through its decentralized exchange, which enabled consumers to purchase and sell ERC-20 tokens that track the prices of Bitcoin and Ether and offer their holder a potential compounded yield of approximately two times the consumer's initial investment.Ethan and Addison examine the mechanics of these "index...
2024-10-3020 minThe Crypto ExchangeFrom Paper to Digital: The California DMV's Leap Into Blockchain TechnologyIn the latest episode of The Crypto Exchange, host Ethan Ostroff is joined by Addison Morgan to discuss a groundbreaking initiative by the California Department of Motor Vehicles (DMV) to digitize 42 million car titles using the Avalanche blockchain network. This move allows users to claim, track, and manage digital titles via the DMV's application, reducing transfer times from two weeks to just minutes.The initiative aligns with Governor Newsom's Executive Order N-922, aimed at making California a leader in Web3 and blockchain technology. Driven by the need to combat vehicle registration fraud, the DMV's adoption of blockchain...
2024-08-2023 minThe Crypto ExchangeUnpacking the Lummis-Gillibrand Payment Stablecoin Act: Implications for the Digital Asset IndustryIn the latest episode of The Crypto Exchange, host Ethan Ostroff is joined by Addison Morgan for an in-depth discussion on the Lummis-Gillibrand Payment Stablecoin Act. This legislation proposes a state and federal regulatory framework for overseeing stablecoins issued by U.S. companies.The conversation explores the potential implications of the bill, including its intent to protect consumers, maintain the U.S. dollar's dominance, and address issues of money laundering and illicit finance.Ethan and Addison also discuss the bill's influence on the digital asset industry, scrutinizing the proposed regulatory structure for reserve-backed stablecoins, the...
2024-06-0418 minThe Crypto ExchangeNavigating the Regulatory Waters: The SEC's Wells Notice to Uniswap and Its Impact on DeFiIn this episode of The Crypto Exchange, Troutman Pepper Partner Ethan Ostroff welcomes his colleague Trey Smith to discuss the recent Wells notice issued by the Securities and Exchange Commission (SEC) to Uniswap, a major decentralized exchange.Ethan and Trey examine the potential consequences of this notice, which is generally a precursor to an enforcement action. The two underscore the importance of the SEC's shift in regulatory focus towards decentralized finance. They further emphasize the significance of this development for the wider digital asset industry. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz...
2024-05-2209 minThe Crypto ExchangeWill Resiliency Carry the Digital Asset Sector Through 2024: Federal Legislative Developments and OFAC Consent OrdersIn the final episode of this series, Ethan, Addison, and Trey discuss federal digital asset-related bills and developments from 2023, along with two Office of Foreign Assets Control (OFAC) consent orders involving digital asset exchanges.The group discusses the Economic Report of 2023 issued by the White House, which contained a 35-page chapter dedicated to digital assets and distributed ledger technology. The report underscored the potential benefits and risks of digital assets, leading to a consensus on the need for federal legislation to address regulatory gaps. The conversation then shifts to the bipartisan Responsible Financial Innovation Act (RFIA), which...
2024-05-0930 minThe Crypto ExchangeWill Resiliency Carry the Digital Asset Sector Through 2024: State-Level DevelopmentsIn the third episode of this four-part series, Ethan, Addison, and Trey discuss several state-level developments that occurred in the digital asset sector during 2023. The group discusses the inception of New York Department of Financial Services' (NYDFS) BitLicense regulation, its evolution, and the NYDFS' introduction of guidance describing the procedures a digital asset custodian must engage in to ensure the provision of safekeeping services in a consumer-friendly manner. The main principles of the guidance aim to protect consumers by requiring digital asset custodians to, among other things, segregate digital assets owned by consumers and to prevent the establishment of...
2024-05-0723 minThe Crypto ExchangeWill Resiliency Carry the Digital Asset Sector Through 2024: The CFPB and FTC Take a StanceIn the second episode of this four-part series, Ethan, Addison, and Trey explore the CFPB's proposed rule to define a market for general-use consumer payment applications under its larger participant authority, and its impact on digital asset financial services companies. The group discusses the integration of digital assets into the traditional financial system and the associated regulatory concerns. The episode concludes with a discussion of two significant FTC enforcement actions filed against digital asset financial services companies in 2023, underlining the potential consequences for stakeholders operating in the industry. Hosted by Simplecast, an AdsWizz company. See pcm...
2024-05-0230 minThe Crypto ExchangeWill Resiliency Carry the Digital Asset Sector Through 2024: Navigating the 2023 Regulatory LandscapeIn the opening episode of a four-part series examining major developments in the digital assets industry in 2023, Ethan Ostroff, Addison Morgan, and Trey Smith discuss significant federal regulatory events that transpired throughout the year.The group examines actions taken by key regulatory bodies such as the Federal Reserve Board, FDIC, OCC, and FinCEN. The conversation explores the regulatory landscape of the digital assets industry in 2023, emphasizing how regulators navigated past challenges. They also discuss the industry's resilience in the face of significant events and the ensuing regulatory responses. The episode concludes with a discussion on tokenization, a...
2024-04-3046 minThe Consumer Finance PodcastUnderstanding the CFPB's Proposed Digital Payments Larger Participants Rule and Its Implications for Digital AssetsIn this special crossover episode with 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.Our group discusses the legal basis for the CFPB's assertion of jurisdiction over digital assets, and...
2024-03-1425 minPayments Pros – The Payments Law PodcastUnderstanding the CFPB's Proposed Digital Payments Larger Participants Rule and Its Implications for Digital AssetsIn 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.Our group discusses the legal basis for the CFPB's assertion of jurisdiction over digital assets, and...
2024-02-2724 minThe Crypto ExchangeUnderstanding the CFPB's Proposed Digital Payments Larger Participants Rule and Its Implications for Digital AssetsIn 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.Our group discusses the legal basis for the CFPB's assertion of jurisdiction over digital assets, and...
2024-02-2724 minThe Crypto ExchangeUnraveling the Crypto Code: California's New DFAL ExplainedIn 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.Ethan and Addison delve into key provisions of the DFAL, including the definitions of digital financial asset, digital financial asset business activity, and resident. They also explore the DFAL's broad definition of digital financial asset, which includes all tradable digital assets but excludes certain...
2024-02-1239 minThe Consumer Finance PodcastCFPB's Rulemaking Under the FCRA (Part 3) – Crossover Episode With FCRA Focus PodcastJoin us for the third episode in a special three-part series covering the CFPB's intention to propose new rules under the Fair Credit Reporting Act (FCRA). In this episode, Troutman Pepper Partners Chris Willis, Dave Gettings, Kim Phan, Ethan Ostroff, and Ron Raether discuss the potential implications of regulating data brokers under the FCRA, and how this might affect data brokers as well as other types of entities, including users, consumer reporting agencies, and resellers. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for...
2023-09-2126 minThe Consumer Finance PodcastCFPB's Rulemaking Under the FCRA (Part 2) – Crossover Episode With FCRA Focus PodcastJoin us for the second episode in a special three-part series covering the CFPB's intention to propose new rules under the Fair Credit Reporting Act (FCRA). In this episode, Troutman Pepper Partners Chris Willis, Dave Gettings, Kim Phan, Ron Raether, and Ethan Ostroff discuss the regulation of credit header data and the potential impact on the FCRA and consumer reporting agencies, as well as users and data brokers.Stay tuned for the third and final episode in this series, which will focus specifically on data brokers and the possibility of regulating them under the FCRA, and how...
2023-09-1428 minThe Crypto ExchangeAnalyzing the Treasury's Illicit Finance Risk Assessment of Decentralized FinanceIn 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.With this assessment, the Treasury has signaled its intent to increase focus on the DeFi sector, expecting DeFi market actors to integrate anti-money laundering (AML) and counter-terrorism financing (CFT) compliance into their services.Ethan, Mike, and Matt take a deep dive into...
2023-09-0727 minThe Consumer Finance PodcastCFPB's Rulemaking Under the FCRA – Crossover Episode With FCRA Focus PodcastJoin us for the first episode in a special three-part series covering the CFPB's intention to propose new rules under the Fair Credit Reporting Act (FCRA). In this episode, Troutman Pepper Partners Chris Willis, Dave Gettings, Ethan Ostroff, and Kim Phan explore the historical events that led us to this point, the next steps in the rulemaking process, the expected timeline for a final rule, how the CFPB is coordinating with the FTC and other regulators, and the expected proposed rulemaking regarding credit header data and data brokers.Stay tuned for the next two episodes in this...
2023-09-0729 minThe Crypto ExchangeCurrent Landscape of Cryptocurrency Regulation and EnforcementIn 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:Regulation of cryptocurrency at the federal and state level, and what the regulators are targeting;The involvement of state attorneys general in cryptocurrency and enforcement;Movement on the legislative front, including New York’s Cryptocurrency Regulation, Protection, Transparency, and Oversight Act, and the U.S. House of Representatives Financial Services Committee release of the Digital Asset Market Structure Dis...
2023-08-2936 minThe Consumer Finance PodcastCurrent Landscape of Cryptocurrency Regulation and EnforcementIn this episode of The Consumer Finance Podcast, Troutman Pepper Partner Chris Willis is joined by colleagues Ethan Ostroff and Trey Smith to discuss the current landscape of cryptocurrency regulation and enforcement. Our team offers insights to the industry about various topics, including:Regulation of cryptocurrency at the federal and state level, and what the regulators are targeting;The involvement of state attorneys general in cryptocurrency and enforcement;Movement on the legislative front, including New York's Cryptocurrency Regulation, Protection, Transparency, and Oversight Act, and the U.S. House of Representatives Financial Services Committee release of the Digital Asset...
2023-08-2435 minThe Crypto ExchangeTurning up the Heat – A Look at the FTC's Groundbreaking Fine Against Bankrupt Digital Asset Services Provider Celsius Network LLCIn 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.This is a groundbreaking move by the FTC for two reasons. First, it marks the first time that the agency has filed suit against a digital asset-based company. Second, the FTC's request for civil money penalties is predicated...
2023-08-1824 minThe Crypto ExchangeCrypto As "Funds" Under the EFTA – How a Court's Recent Ruling May Impact Virtual Currency Platform OperatorsIn 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.The plaintiffs in this class action asserted that Uphold HQ violated the EFTA and Regulation E as the result of an alleged security flaw, which enabled unauthorized actors to access plaintiffs' accounts...
2023-08-1019 minPayments Pros – The Payments Law PodcastConvenience Fees: Why You Need to Pay Attention?This edition of Payments Pros spotlights an episode from The Crypto Exchange podcast where Ethan Ostroff sat down with Payments Pros hosts Keith Barnett and Carlin McCrory to discuss recent developments with convenience fees in the payments industry. With both of their practices focusing on payments-related issues, Keith and Carlin take a deep dive into the recent CFPB advisory opinion on convenience fees and how it affects payment processors, money transmitters, and loan servicers. Additionally, they explore how the CFPB's advisory affects card network rules and how the rules mesh with state laws. Hosted by Simplecast...
2023-06-2718 minThe Crypto ExchangeCrypto Enforcement ActionsIn 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.Ethan and Mike also discuss the Department of Justice's (DOJ) history of crypto enforcement, statutes the DOJ uses to charge crypto fraud cases, as well as several crypto-related fraud cases prosecuted by the DOJ. Ethan and Mike further explore the Securities and Exchange Commission's (SEC) civil enforcement actions and how heavily it relies...
2023-05-3135 minThe Crypto ExchangeAutorenewalsMost 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. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.co...
2023-03-2126 minThe Crypto ExchangeCrypto Year in Review 2022: Crypto Enforcement and the U.S. TreasuryIn 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.Be on the lookout for the next episode of The...
2023-03-0237 minThe Crypto ExchangeCrypto Year in Review 2022: State-Level Regulatory Developments in the Digital Asset MarketIn 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.Be on the lookout for the final episode of this four-part podcast series. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.
2023-03-0116 minThe Crypto ExchangeCrypto Year in Review 2022: Federal Reserve and Central Bank Digital Currencies and FDIC/OCC Regulatory DevelopmentsIn the second segment of our four-part Crypto Year in Review series, Rene McNulty, Carlin McCrory, and Ethan Ostroff discuss the Federal Reserve and its research and experimentation on Central Bank Digital Currencies (CBDCs), examining the steps that the Fed took toward potential CBDC implementation. Our panelists also review recent crypto-related regulatory developments at the FDIC and OCC, discussing what these actions can tell us about regulatory trends and priorities.Be on the lookout for our next episode of this podcast series. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information...
2023-02-2322 minThe Crypto ExchangeCrypto Year In Review 2022: CFPB and FTC Enforcement TrendsIn the first of a four-part Crypto Year in Review series, Carlin McCrory, Keith Barnett, and Ethan Ostroff look at how the CFPB and FTC viewed and regulated cryptocurrency in 2022. The panel examines statements by CFPB Director Rohit Chopra and recent CFPB and FTC enforcement actions, identifying likely regulatory trends for 2023 and beyond. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.
2023-02-0726 minThe Crypto ExchangeEvaluating Fraud Under the Bank Secrecy ActIn this episode of The Crypto Exchange, Troutman Pepper attorney Carlin McCrory welcomes Disputes, Compliance and Investigations Managing Director Terri Sands from Stout to discuss the risks and regulatory scrutiny that financial institutions and fintechs face as to fraud and the Bank Secrecy Act (BSA). In her position, Terri serves as a leader in the payments, BSA/AML, and OFAC/Sanctions and fraud and risk management areas.During the podcast, Carlin and Terri discuss a variety of topics on the BSA, including the biggest fraud risks that financial institutions encounter, as well as what they can do...
2023-01-1028 minThe Crypto ExchangeBankruptcy Filings Among Crypto Exchanges: Is This a Sign of the Future?In this episode of The Crypto Exchange, Troutman Pepper Consumer Financial Services Partner Ethan Ostroff welcomes back Deborah Kovsky-Apap to discuss the recent FTX bankruptcy and other bankruptcy-related developments in the crypto space.Ethan and Deb dive into the recent news that has shook the entire crypto world and how this may affect the crypto landscape going forward. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.
2022-12-0127 minThe Crypto ExchangeCrypto and the SECIn this episode of The Crypto Exchange, Troutman Pepper Partners Ethan Ostroff and Keith Barnett welcome their colleague Jay Dubow to discuss recent updates in the crypto space related to activities by regulators on the state and federal level around questions involving securities. Jay, who formerly worked as a branch chief in the SEC's Division of Enforcement, provides a unique perspective and insight into our conversation surrounding crypto and the SEC.Ethan, Keith, and Jay also discuss possible enforcement actions by the SEC in the crypto space that our listeners should pay attention to in the coming...
2022-11-2227 minThe Crypto ExchangeThe CFPB's Focus on Crypto and PaymentsIn this episode of The Crypto Exchange, Troutman Pepper Consumer Financial Services Partner Kalama Lui-Kwan welcomes back Keith Barnett and Carlin McCrory to discuss recent interviews by Rohit Chopra from the CFPB related to consumer protection issues, true lender matters, actions against repeat offenders, as well as P2P platforms and the CFPB’s stance on fees. Keith and Carlin also discuss a recent report released by the CFPB, The Convergence of Payments and Commerce: Implications for Consumers, that examines the challenges in new product categories and risks to consumers inherent in the evolving payment ecosystem. ...
2022-10-1221 minThe Crypto ExchangeBanking Regulations in a Crypto WorldIn this episode of The Crypto Exchange, Troutman Pepper Consumer Financial Services Partner Ethan Ostroff welcomes James Stevens to examine recent crypto-related activities by banking regulators. Ethan and James discuss the regulators that interact with banks and financial institutions and their regulation of crypto activities, including the lack of consistency and its impact on the banks and financial institutions. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.
2022-09-1615 minThe Crypto ExchangeWhose Crypto Is It Anyway? Bankruptcy and CryptoIn this episode of The Crypto Exchange, Troutman Pepper Partner Keith Barnett welcomes his colleague Deborah Kovsky-Apap to discuss various bankruptcy issues facing crypto exchanges, including who exactly owns the digital assets when an exchange files for bankruptcy. Additionally, Keith and Deborah explore bankruptcy eligibility for crypto exchanges and security interests in crypto. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.
2022-09-1620 minThe Consumer Finance PodcastKeeping Up With the Bureau Episode 3: Evolving Federal and State Requirements for Furnishers and Users of Consumer ReportsPlease join Consumer Financial Services Partner Ethan Ostroff and his guests and colleagues Alan Wingfield, Chris Capurso, and Derek Schwahn in the third episode of a special four-part series on recent developments with the Consumer Financial Protection Bureau (CFPB). In this episode, topics include:The CFPB's recent focus on the furnishers' obligation to respond to consumer disputes;Steps furnishers can take to ensure they properly investigate and respond to consumer disputes;Recent developments on reporting medical debt; andThe CFPB's views on what should and should not be contained on a consumer's credit report.Partner Ethan Ostroff's practice...
2022-09-1529 minThe Crypto ExchangeSenators Urge CFPB to Increase Consumer Protection Against Payment App ScamsIn this episode of The Crypto Exchange, Troutman Pepper Consumer Financial Services Partner Kalama Lui-Kwan welcomes back Keith Barnett and Carlin McCrory to discuss consumer protection under Regulation E and a recent letter from democratic senators, urging the CFPB to hold banks liable for consumer losses when the consumers provide alleged fraudsters with access to their own accounts through payment apps. Keith and Carlin examine the senators’ concerns, as well as how any potential changes that the CFPB makes could impact financial institutions significantly. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information abo...
2022-08-2318 minThe Crypto ExchangeA Conversation with Third Party Payment Processors Association President Marsha JonesIn this episode of The Crypto Exchange, Troutman Pepper attorneys Keith Barnett and Carlin McCrory welcome Marsha Jones from the Third Party Payment Processors Association to discuss a portion the ENABLERS Act, which proposes to update federal anti-money laundering laws to include payment processors within the definition of “financial institution.” The ENABLERS Act is co-sponsored by Representatives Joe Wilson (R-SC), Tom Malinowski (D-NJ), Maria Elvira Salazar (R-FL), Steve Cohen (D-TN), Abigail Spanberger (D-VA), and Richard Hudson (R-NC). Keith, Carlin, and Marsha discuss the significant ramifications that the ENABLERS Act will have on payments processors if it is passed. This is a...
2022-08-0920 minThe Crypto ExchangeCrypto and Beyond: California DFPI Opinions on Money Transmission and the Money Transmission ActIn second episode of The Crypto Exchange, Troutman Pepper Consumer Financial Services Partner Ethan Ostroff welcomes back Keith Barnett and Carlin McCrory to discuss opinions released over the past year involving money transmission and the Money Transmission Act and how they impact stakeholders in the digital asset and payment spaces.Keith and Carlin are both regulatory, compliance, and payments attorneys with experience representing financial institutions, fintechs, lenders, debt collectors, payment processors, neobanks, and virtual currency companies. They also advise cryptocurrency exchanges and NFT platforms on state and federal money transmission law compliance and regulatory issues, and represent...
2022-07-2113 minThe Crypto ExchangeConvenience Fees: Why You Need to Pay Attention?In the first episode of The Crypto Exchange, Troutman Pepper Consumer Financial Services Partner Ethan Ostroff welcomes his colleagues Keith Barnett and Carlin McCrory to discuss recent developments with convenience fees in the payments industry. With both of their practices focusing on payments-related issues, Keith and Carlin take a deep dive into the recent CFPB advisory opinion on convenience fees and how it affects payment processors, money transmitters, and loan servicers. Additionally, they explore how the CFPB's advisory affects card network rules and how the rules mesh with state laws. Hosted by Simplecast, an AdsWizz company...
2022-07-2117 minThe Crypto ExchangeIntroducing The Crypto Exchange PodcastTroutman Pepper's The Crypto Exchange podcast explores the trends, challenges, and legal issues our clients and others in the industry face daily. Featuring insights from the firm's FinTech and Payments practice groups, our podcast examines everything from NFTs to Web3, bitcoin to blockchain, fintech to regtech, and payment processing to data processing. Our Troutman Pepper attorneys, along with industry experts and insiders, will walk you through the federal and state regulatory, legal, and business intricacies of this rapidly evolving industry sector. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection...
2022-07-1901 minThe Consumer Finance PodcastCA DFPI Request for Comment on Cryptocurrency-Related Financial Products and ServicesPlease join Troutman Pepper Partner Chris Willis and his guests and fellow Partners Keith Barnett and Ethan Ostroff as they discuss the recent request for comment from California’s Department of Financial Protection and Innovation on cryptocurrency-related financial products and services under the California Consumer Financial Protection Law. Keith and Ethan share their ideas about what this request for comment says about the direction California may take in the world of cryptocurrency.Collectively, Keith and Ethan bring almost 40 years of experience, representing companies in the financial services industry. They counsel payment processors, money transmitters, payments apps, and si...
2022-07-0722 minThe Consumer Finance PodcastA Dive into CryptocurrencyJoin Troutman Pepper Consumer Financial Services Partner Chris Willis and his guests and fellow Partners Keith Barnett and Ethan Ostroff as they dive into the world of cryptocurrency. The discussion spans from basic terminology and current activities in the regulatory and legislative arenas to parting words of wisdom for companies in the industry. Collectively, Keith and Ethan bring almost 40 years of experience, representing companies in the financial services industry. Keith counsels payment processors, money transmitters, payments apps, and similar companies on compliance with federal and state money services business laws. He also advises cryptocurrency exchanges and NFT platforms on...
2022-06-0225 min