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White House and Military Departments Release Guidance as (Another) Budget Deadline Approaches

Client Alert | 1 min read | 01.18.13

In the past week, OMB, DoD, Army, Air Force, and Navy have all released guidance directing their subordinate entities to begin planning for the possibility of sequestration (presently scheduled to result in the cancellation of approximately $85 billion in FY13 budgetary resources) beginning on March 1, 2013, and for the expiration of the FY13 Continuing Appropriations Resolution (which expires on March 27, 2013, and must either be extended or replaced with new appropriations acts to prevent a lapse in appropriations and government shutdown). While the guidance cautions that efforts to prevent sequestration and ensure continued appropriations are underway, the memos acknowledge that, as a practical matter, agencies must begin planning for the possibility that they will need to operate with dramatically reduced budgetary resources.


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Client Alert | 6 min read | 08.11.26

Lending Against Digital Assets: Five Key Takeaways for Lenders After a Year of Regulatory and UCC Change

Over the past 18 months, the federal banking agencies have clarified supervisory expectations for banks’ crypto-asset activities, and several of the largest U.S. banks have announced programs accepting Bitcoin and Ether as loan collateral. Separately, on June 3, 2026, New York’s enactment of the 2022 amendments to the Uniform Commercial Code took effect, changing the rules governing the perfection of a security interest in digital asset collateral in New York, the jurisdiction whose law governs most institutional credit documentation. Together, these developments may create significant opportunities for lenders navigating the complexities to comply with the newly enacted statutes. This alert surveys the current landscape, from regulatory permissibility and perfection through custody, structuring, and compliance, for institutions active in this market or considering entering it....

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