Four Big Law firms including Skadden and Gibson, Dunn & Crutcher helped cryptocurrency companies win US preliminary approval Friday to perform some banking functions.
Sidley Austin and Paul Hastings also worked for companies that received a conditional OK from the Office of the Comptroller of the Currency.
“New entrants into the federal banking sector are good for consumers, the banking industry and the economy,” Jonathan Gould, the Comptroller of the Currency, said in a statement.
The move comes as the Trump administration advances a pro-crypto agenda, in contrast to the Biden administration’s more wary approach. Big Law firms have been ...