Introduction The Guiding and Establishing National Innovation for U.S. Stablecoins Act of 2025 (the “GENIUS Act” or the “Act”) establishes a legal framework for defining, issuing, custodying and managing a specific kind of...more
Just days prior to the passage of the GENIUS Act on stablecoins by Congress, on July 14th, the Federal Reserve, Office of the Comptroller of the Currency and the Federal Deposit Insurance Corporation (collectively, the...more
The Guiding and Establishing National Innovation for U.S. Stablecoins Act of 2025 (the “GENIUS Act” and the “Act”) establishes a regulatory infrastructure for defining, managing, custodying and issuing a specific kind of...more
6/24/2025
/ Cryptocurrency ,
Digital Assets ,
Digital Currency ,
FDIC ,
Financial Regulatory Reform ,
Financial Services Industry ,
FinCEN ,
Investment ,
OCC ,
Payment Systems ,
Popular ,
Regulatory Agenda ,
Regulatory Requirements ,
Service Professionals ,
Stablecoins ,
U.S. Treasury
In the post-pandemic world, several trends are developing that will fundamentally change the way financial market participants manage commercial risk or trade traditional and rapidly evolving novel assets, while new classes...more
As of Wednesday, stablecoin bills in the House and the Senate have been voted out of committee and moved onto the floor of each house for a full vote....more
We have reported on stablecoin regulation and legislation several times over the last few years, including on the most recent stablecoin legislation that appeared to have traction on a bi-partisan basis, the Lummis-Gillibrand...more
On January 23, President Trump issued an Executive Order and accompanying Fact Sheet intending to promote “United States leadership in digital assets and financial technology while protecting economic liberty.” Entitled...more
On October 6, 2023, Rohit Chopra, the Director of the Consumer Financial Protection Bureau (“CFPB”), gave a speech at the Brookings Institute’s “Payments in a Digital Century” event. In his prepared remarks, Chopra frankly...more
The National Institute of Standards and Technology (“NIST”), a non-regulatory governmental agency that focuses upon the technological aspects of a wide variety of products and services, mostly non-financial in nature,...more
The Federal Reserve issued a Supervision and Regulation letter earlier this week to all state member banks (“SMBs”) regarding their involvement in activities involving stablecoins, taking an even more reticent position than...more
Last week, Martin Gruenberg, Acting Chair of the Federal Deposit Insurance Corporation (“FDIC”), gave remarks at the Brookings Institution on the Prudential Regulation of Crypto-Assets....more
Earlier this week, U.S. Sens. Kirsten Gillibrand (D-N.Y.) and Cynthia Lummis (R-Wyo.) introduced the first comprehensive legislation to establish a regulatory framework for digital assets to promote innovation, delineate...more
6/10/2022
/ Blockchain ,
CFTC ,
Cryptocurrency ,
Digital Assets ,
Distributed Ledger Technology (DLT) ,
FERC ,
Financial Regulatory Reform ,
Financial Services Industry ,
IRS ,
Proposed Legislation ,
Regulatory Agenda ,
Securities and Exchange Commission (SEC) ,
Smart Contracts ,
Stablecoins
This week, Acting Comptroller of the Currency Michael Hsu gave remarks to the DC Blockchain Summit titled “Crypto: A Call to Reset and Recalibrate.”
By speaking at the Blockchain Summit, Mr. Hsu may have gone into the...more
6/1/2022
/ Blockchain ,
Cryptocurrency ,
Digital Assets ,
Digital Currency ,
Financial Instruments ,
Financial Markets ,
Investment Products ,
Market Volatility ,
Regulatory Oversight ,
Stablecoins ,
Token Sales
Earlier last week, Department of the Treasury Secretary Janet Yellen provided testimony and responded to questions from the Senate Banking Committee regarding volatility in cryptocurrencies that are designated to be...more
5/16/2022
/ Blockchain ,
Cryptocurrency ,
Digital Assets ,
Digital Currency ,
Financial Products ,
FSOC ,
Policy Statement ,
Regulatory Agenda ,
Regulatory Oversight ,
Secretary of the Treasury ,
Stablecoins ,
U.S. Treasury