On Wednesday June 23, Barack Ferrazzano Financial Institutions Group partner and nationally recognized cryptocurrency practitioner Justin Steffen spoke to the Federal Reserve Board’s Interagency (MWIA) Supervision, Emerging Issues and Technologies, and Information Security and Business Continuity Management Working Groups.
Justin’s talk, entitled A Conversation About Cryptocurrency & Blockchain – From the Basics to the Present, explained tokens, ledgers, smart contracts, DeFi, NFTs, and other key concepts and underscored the operational, regulatory, and reputational risks posed by crypto products and services. The MWIA is comprised of state and federal regulators from across the Midwest, including representatives from the Federal Reserve, OCC, FDIC, SEC, CFTC, and IDFPR, among others.
Justin C. Steffen is a nationally recognized FinTech and cryptocurrency attorney who helps financial institutions navigate the legal and regulatory obstacles to innovation. Justin regularly advises clients on the intersection of technology and the law, including on issues related to financial privacy, ransomware, and cybersecurity.