Today marks a historic milestone in U.S. digital asset policy. The President signed the GENIUS Act into law following its bipartisan passage by 308-122 in the House on July 17 and 68-30 in the Senate on June 17. The GENIUS...more
The Senate passed the GENIUS Act with bipartisan support, marking a significant step forward in advancing stablecoin legislation. Legislative action on stablecoins will now move to the House of Representatives. The House...more
The digital asset policy landscape developed on multiple fronts this week. The House Financial Services and Agriculture Committees voted to advance the CLARITY Act, a bipartisan proposal to establish a regulatory framework...more
On Tuesday, June 10, the House Committees on Agriculture and Financial Services both favorably reported to the House H.R. 3633, the Digital Asset Market Clarity (CLARITY) Act (as amended). Both committees gave overwhelmingly...more
Former Congressman Peter Roskam, who leads BakerHostetler’s Federal Policy team, provides listeners with a front-row seat to the most important policy and political debates in Congress. In this episode of “The Cloakroom with...more
The House Committees on Financial Services and Agriculture have unveiled a discussion draft for a new comprehensive U.S. crypto market structure bill, aiming to establish clear regulatory boundaries between the U.S....more
In a significant development for the digital asset industry, Republican lawmakers from the U.S. House Committees on Financial Services and Agriculture have released a comprehensive discussion draft of proposed legislation...more
As Congress moves to enact comprehensive stablecoin legislation under the Trump administration, both the Senate and the House of Representatives have updated their respective payment stablecoin bills. Our recent Commentary...more
To keep you informed of recent activities, below are several of the most significant federal and state events that have influenced the Consumer Financial Services industry over the past week....more
This week, Congress wrapped up its final session of the 118th Congress. Crypto legislation in the next Congress will likely be based on the bills introduced in the prior session, but we might see some significant changes to...more
In this update, we focus on the potential changes in the executive branch and on the congressional committees that have jurisdiction over cryptocurrency. As the transition unfolds, much attention is on who will stay from the...more
Yesterday, the House passed H.R. 4763, the Financial Innovation and Technology for the 21st Century (FIT21) Act, by a vote of 279-136, including 71 votes from Democrats. The bill passed despite opposition from the White House...more
On January 11, 2024, the House Financial Services Committee announced the formation of a bipartisan Working Group on Artificial Intelligence (“AI”). The working group is to be led by the Chairman of the Digital Assets...more
On December 5, the U.S. House Financial Services Subcommittee on Digital Assets, Financial Technology and Inclusion held a hearing on “Fostering Financial Innovation: How Agencies Can Leverage Technology to Shape the Future...more
Today, most Americans are unable to afford a $500 emergency expense. For individuals living paycheck-to-paycheck, encountering an unplanned expense–like a car repair or medical bill–can drive them to overdraft their bank...more
The Blockchain Bi-Weekly presented by the Polsinelli Blockchain+ team is a rundown of some of the key stories in the Web3, blockchain and crypto ecosystems curated by our attorneys navigating the intersections of code, smart...more
November 15, 2023- U.S. House Committee on Financial Services Chair Patrick McHenry (R-NC), and Senator Cynthia Lummis (R-WY) led a letter with a bipartisan group of colleagues to the prudential regulators—the Office of...more
Two congressional committees of the U.S. House of Representatives commenced the new year by announcing the creation of new subcommittees for the 118th Congress that are expected to analyze issues concerning cryptocurrency and...more
On January 25, the House Committee on Financial Services announced its hearing schedule for the month of February, which includes a full committee hearing on February 8 at 10:00 a.m. ET on “Digital Assets and the Future of...more