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Banking Sector New Legislation

Sheppard Mullin Richter & Hampton LLP

Wyoming Launches First State-Issued Stable Token

On August 19, the Wyoming Stable Token Commission announced the launch of the Frontier Stable Token (FRNT), making Wyoming the first public entity in the United States to issue a state-backed, blockchain-based stablecoin. The...more

A&O Shearman

ECB Issues Opinion On Lithuania's CRD VI Transposition Into National Law

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The European Central Bank (ECB) has published its opinion adopted on 14 August in response to a request from Lithuania's Minister of Finance. The opinion concerns proposed amendments to the Law on Lietuvos bankas (the draft...more

Phelps Dunbar

Is the GENIUS Act Smart for Community Banks?

Phelps Dunbar on

The GENIUS Act, passed in July, is the first comprehensive federal framework for payment stablecoins in the United States. On the surface, it promises clarity and an opportunity for community banks to participate in the...more

A&O Shearman

UK Future Entity for Open Banking to Be Established by End of 2025

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The UK Financial Conduct Authority (FCA) has published a feedback statement on the design of the Future Entity for UK open banking (FS25/4). The feedback statement responds to the feedback received to the consultation, which...more

Orrick, Herrington & Sutcliffe LLP

U.S. Congress enacts stablecoin regulatory act, now law

On July 18, the U.S. Congress enacted the “Guiding and Establishing National Innovation for U.S. Stablecoins Act,” or the “GENIUS Act,” to regulate the issuance and treatment of payment stablecoins, which are digital assets...more

Paul Hastings LLP

Federal Reserve Ends Novel Activities Program and Industry Groups Press on GENIUS Act

Paul Hastings LLP on

Congress is on recess, leaving regulatory agencies and industry groups to drive this week’s developments in digital asset policy. The Federal Reserve announced a sunset of its Novel Activities Supervision Program, folding...more

Hogan Lovells

US president’s working group issues report outlining key policy recommendations for digital assets regulation

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On July 30, 2025, the President's Working Group on Digital Asset Markets released its much anticipated report setting out recommendations concerning the regulation of digital assets in the United States....more

Bradley Arant Boult Cummings LLP

State Laws Show Uniformity Is Key To Truly Fair Bank Access

Over the past few years, one of the more noteworthy types of new financial services rules at the state level has been the so-called fair access to banking law. Concerns about ideological debanking have gained political...more

A&O Shearman

HMT extends consultation deadline on applying FSMA 2000 model of regulation to UK CRR

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HM Treasury (HMT) has announced an extension to the consultation deadlines set out in its policy update on applying the Financial Services and Markets Act 2000 (FSMA) model of regulation to the Capital Requirements Regulation...more

Sheppard Mullin Richter & Hampton LLP

Trade Groups Urge Congress to Address GENIUS Act Loopholes

On August 12, a coalition of banking trade associations sent a joint letter to Congress warning that the recently enacted GENIUS Act contains a loophole that could allow the indirect payment of interest or yield on payment...more

J.S. Held

Understanding India’s Evolving Legal and Regulatory Framework for Combating Financial Fraud

J.S. Held on

Introduction - Financial fraud represents a persistent threat to economic stability, undermining trust among businesses, investors, and the general public. As India’s financial ecosystem expands and transactions become...more

A&O Shearman

UK FCA Handbook 132

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The UK Financial Conduct Authority (FCA) has published Handbook Notice 132, outlining legislative and technical updates to the FCA Handbook made by the statutory instruments set out below. - Non-Financial Misconduct...more

Foley & Lardner LLP

The Executive Order Guaranteeing Fair Banking for All Americans and Its Implications for State Regulation of Insurance Trade...

Foley & Lardner LLP on

On August 7, 2025, the White House issued an Executive Order titled “Guaranteeing Fair Banking for All Americans,” which is intended to address instances of unfair discrimination in banking decisions by financial institutions...more

Cadwalader, Wickersham & Taft LLP

Use of Payment Stablecoins as Margin and Collateral Under the GENIUS Act

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

Nutter McClennen & Fish LLP

Nutter Bank Report: July 2025

In the wake of the Guiding and Establishing National Innovation for U.S. Stablecoins Act (GENIUS Act), the federal banking agencies have issued joint guidance to provide clarity on supervisory expectations for banks that...more

Cozen O'Connor

Bipartisan Coalition of AGs Bank on SAFER Cannabis Reform

Cozen O'Connor on

A bipartisan coalition of state and territorial AGs sent a letter to Congress urging the passage of the SAFER Banking Act of 2025, which would create federal safe harbor protections for financial institutions that serve...more

Katten Muchin Rosenman LLP

Payment Stablecoins Get "Smart" (or GENIUS-like)

Congress recently passed the first significant federal legislation recognizing the apparent enduring presence of payment stablecoins in the US financial and consumer markets. President Donald Trump signed into law on July 18,...more

Fox Rothschild LLP

Thirty-two Attorneys General Press Congress to Finally Pass the SAFER Banking Act to Protect Cannabis Businesses and Communities

Fox Rothschild LLP on

The cannabis industry continues to face a fundamental challenge: access to the regulated banking system. Despite legalization (adult use and/or medical) in dozens of states, cannabis remains federally illegal, leaving...more

Hogan Lovells

Crypto week in the U.S. House of Representatives: The GENIUS Act and the push for regulatory clarity

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Following the week of July 14, 2025 – labelled as “Crypto Week” by the U.S. House of Representatives – the United States has witnessed significant developments in its digital asset regulatory framework, including the signing...more

A&O Shearman

Bank Resolution (Recapitalisation) Act implemented

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The Bank Resolution (Recapitalisation) Act 2025 (Commencement) Regulations 2025 have been made, which brings into force certain provisions of the Bank Resolution (Recapitalisation) Act 2025 from 16 July, in parallel with the...more

Paul Hastings LLP

Banking Regulators Clarify Crypto Custody Expectations, Congress Advances Landmark Digital Asset Legislation and Senate Releases...

Paul Hastings LLP on

In a pivotal week for digital asset policy, federal banking regulators issued long-awaited guidance outlining risk-management expectations for crypto-asset safekeeping activities. The OCC, Federal Reserve and FDIC released a...more

DLA Piper

Stablecoins and the Genius Act: What You Need to Know

DLA Piper on

On July 17, 2025, the US Congress passed the Guiding and Establishing National Innovation for US Stablecoins Act (Genius Act or Act) by 308–122 vote, a landmark piece of legislation establishing the first federal regulatory...more

Orrick, Herrington & Sutcliffe LLP

Stablecoin Framework Signed into Law

On July 18, 2025, the President signed the GENIUS Act into law, setting clear rules for who can issue payment stablecoins in the U.S. Only permitted issuers and registered foreign issuers are allowed, and they must follow...more

Lowenstein Sandler LLP

Crypto Brief - Lowenstein Crypto Newsletter - July 24, 2025

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On July 18, the GENIUS Act (the Act) was signed into law by President Donald Trump. According to a fact sheet released by the White House, the legislation aims to position the United States as a leader in the development of...more

ArentFox Schiff

GENIUS Act Ushers in New Era for US Stablecoin Regulation and Digital Asset Leadership

ArentFox Schiff on

On July 18, President Trump signed the GENIUS Act into law, marking a significant development in the regulation of digital assets and stablecoins in the United States....more

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