The State of Stablecoins

Thursday, October 12, 2023| 12:30 pm – 2:30 pm

Format: Webinar

Register for the Live Webinar

Program Co-Chairs:

Lorraine McGowen
Task Force on Digital Technologies and Partner, Orrick, Herrington & Sutcliffe LLP

Edward So
Co-Chair, Task Force on Digital Technologies and Partner, White & Case;

Jerome Walker
Co-Chair, Task Force on Digital Technologies and Partner, Jerome Walker PLLC;

  • The panel will cover the current and future state of stablecoins including

    1) A Survey of Legal, Regulatory and Policy Issues

    2) Types of Stablecoin Products; Benefits and Risks and;

    3) Expectations for the Future

    Please join us if you are crypto-stablecoin curious or an attorney actively working in the space.

    Program Fee:
    $149 for Members | $249 for Nonmembers

  • Moderator and Lead Panelist:

    Beth Haddock
    Co-Chair, Task Force Subcommittee on Web3 and Chief Legal Officer, AdvisorEngine and Independent Director, GMO-Z Trust Company

     

    Panelists: 

    Olta Andoni
    Enclave Markets General Counsel and ChiefCompliance Officer;

    Matthew Homer
    Former Executive Deputy Superintendent, Research and Innovation, New York State Department of Financial Services, and Managing Member, Department of XYZ;

    Asad Kudiya
    Assistant General Counsel, Banking Regulation & Policy Group, Board of Governors of the Federal Reserve System;

    Gregory C. Padgett
    Senior Counsel, Securities and Exchange Commission, Division of Enforcement;

    David Portilla
    Partner, Davis Polk;

    Ramy Soliman
    Policy Lead and Co-Founder, Stablecoin Standard

  • 12:30 pm – 12:35 pm
    Introduction of Topic and Panelists
    (Beth Haddock, Moderator and Lead Panelist)

    • Scope of webinar – Regulated stablecoins (not algorithmic products)
    • Goal of CLE – Survey of banking, securities, and other applicable laws and risk management, governance, and compliance issues

    12:40 pm – 1:20 pm
    Part One: Survey of Legal, Regulatory and Policy Issues 
    Asad Kudiya; Gregory C. Padgett; and David Portilla

    • Federal and state efforts with an emphasis on banking and securities
    • Custody, operational resilience, and contagion/systemic risk
    • Disclosures, financial audits, and the expectations of stakeholders
    • International efforts – MICA as an example for comparative analysis
    • US legislative proposals

    1:25 pm – 1:50 pm
    Part Two: Types of Stablecoin Products; Benefits and Risks
    Olta Andoni; Matthew Homer; and Ramy Soliman

    • Risk management discussion for product development; BIS Annual Economic Report and Financial Stability Board recommendations
    • Ethics for navigating compliance; Europe’s encouragement of early adoption of MICA, US regulatory alerts, and other developments
    • Compliance programs for state and federal oversight; global best practices for operational resiliency and distribution issues covered in Part One

    1:55 pm – 2:20 pm
    Part Three: Expectations for the Future
    Full Panel

    • What should market participants and other stakeholders expect in the future
    • Discussion of risk navigation and takeaways
    • Recommendations for resources to keep pace with changes to the laws

    2:20 pm – 2:30 pm
    Questions and Answers

  • New York: 2.0 Professional Practice
    New Jersey: 2.1 General
    California: 2.0 General
    Pennsylvania: 1.5 General

  • Sponsoring Association Committee:
    Task Force on Digital Technologies, Lorraine McGowen, Edward So, Jerome Walker, Co-Chairs

    Sponsorship Opportunities are Available! Please Contact:
    Yelena Balashchenko, Manager, Business Development & Sponsorships | (212) 382-6608 | ybalashchenko@nycbar.org
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