News & Analysis as of

Financial Services Industry Digital Assets Regulatory Oversight

Katten Muchin Rosenman LLP

CFTC Staff Reaffirm the Commission’s FBOT Framework, Providing Clarity to Non-US Exchanges

Amid “recent confusion and disruption regarding whether non-US exchanges should register [with the Commodity Futures Trading Commission (CFTC or Commission)] as a designated contract market (DCM) or [foreign board of trade...more

Orrick, Herrington & Sutcliffe LLP

OCC terminates 2022 consent order against federally chartered digital asset bank

On August 18, the OCC terminated its 2022 consent order against a federally chartered bank specializing in digital assets. The OCC, in support of its decision, cited the safety and soundness of the bank and its compliance...more

Orrick, Herrington & Sutcliffe LLP

Illinois enacts two new consumer protection laws regulating digital assets

On August 18, Governor Pritzker of Illinois announced he had signed two comprehensive pieces of consumer protection legislation: The Digital Assets and Consumer Protection Act, which will regulate digital asset companies; and...more

Troutman Pepper Locke

GENIUS Act Under the Microscope: Strengths, Weaknesses, and Regulatory Milestones

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As digital assets continue to reshape the financial landscape, regulatory clarity around stablecoins is increasingly vital. The GENIUS Act, signed into law by President Trump in July, establishes the first-ever federal...more

Orrick, Herrington & Sutcliffe LLP

Wyoming debuts first state-issued stablecoin in the U.S.

On August 19, Wyoming launched the Frontier Stable Token (FRNT), under the supervision of the Wyoming Stable Token Commission (WSTC), making it the first state in the U.S. to issue a government-backed stablecoin. The...more

Conyers

Regulatory & Risk Advisory Review: Cayman Islands – April to June 2025

Conyers on

Welcome to the latest edition of our Regulatory & Risk Advisory Review. In this issue, we explore key regulatory updates and emerging trends to help you stay informed and ahead in today’s dynamic compliance environment. The...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

Braumiller Law Group, PLLC

Hot Topics in International Trade - August 2025 - GENIUS Act Establishes Legal Framework for Payment Stablecoins

The President signed into law the Guiding and Establishing National Innovation for U.S. Stablecoins of 2025’or ‘‘GENIUS Act of 2025’” (the Act) on July 18, 2025. The new law establishes a basis for regulators to permit a...more

Stinson LLP

Payment Stablecoin Regulatory Framework Established as GENIUS Act Signed Into Law

Stinson LLP on

The Guiding and Establishing National Innovation for U.S. Stablecoins Act (the GENIUS Act) was recently signed into law by President Trump, establishing a regulatory framework for payment stablecoins and their issuers. The...more

Akin Gump Strauss Hauer & Feld LLP

CryptoLink - June 2025

June marked a pivotal moment in U.S. digital asset oversight with major developments from the SEC, Congress, and the DOJ. First, on June 9, 2025, the SEC’s Crypto Task Force held its final scheduled roundtable called “DeFi...more

Jones Day

Stablecoins: Revolutionizing Global Finance?

Jones Day on

Following the recent focus on two major regulatory frameworks—the Guiding and Establishing National Innovation for U.S. Stablecoins Act (known as the GENIUS Act) in the United States, and Regulation (EU) 2023/1114 of the...more

A&O Shearman

ESMA peer review report issuing CASP oversight recommendations under MiCAR

A&O Shearman on

The European Securities and Markets Authority (ESMA) has published a peer review report assessing the authorisation and supervision of a crypto-asset service providers (CASPs) under the Markets in Crypto-Assets Regulation...more

Cozen O'Connor

Passage of the GENIUS Act: A Turning Point in Stablecoin and Digital Asset Regulation

Cozen O'Connor on

President Donald J. Trump has signed into law the GENIUS Act (Guiding and Establishing National Innovation for U.S. Stablecoins of 2025 or the GENIUS Act of 2025), establishing the first comprehensive federal framework for...more

Nutter McClennen & Fish LLP

The GENIUS Act is Signed into Law: What Banks Need to Know about Payment Stablecoins

On July 18, 2025, President Trump signed into law the Guiding and Establishing National Innovation for U.S. Stablecoins Act (the “GENIUS Act”), after it passed both the U.S. Senate by a vote of 68-30 and the U.S. House in a...more

Vedder Price

Jonathan Gould Confirmed as Comptroller of the Currency

Vedder Price on

On Thursday, July 10, 2025, the U.S. Senate confirmed Jonathan Gould to serve as the next Comptroller of the Currency in a 50–45 vote. Gould will succeed Acting Comptroller Rodney Hood, who offered his congratulations and...more

Troutman Pepper Locke

CSBS Issues Guidance on Virtual Currency and Tangible Net Worth

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On June 26, the Conference of State Bank Supervisors (CSBS) released new guidance regarding the treatment of virtual currency in the calculation of a licensee’s tangible net worth under the Money Transmission Modernization...more

Carey Olsen

Bermuda leads the way on digital transformation

Carey Olsen on

The surge in adoption of digital technologies and AI is rapidly changing the business, investment and security environments. The global demand for improved and increased digital infrastructure capacity, resilience, speed and...more

Orrick, Herrington & Sutcliffe LLP

RegFi Episode 62: The Expanding Role of State AGs in Consumer Financial Protection

Rob McKenna, Orrick partner and former Washington State Attorney General, joins RegFi co-hosts Jerry Buckley and Caroline Stapleton to discuss the expanding role of state attorneys general in consumer financial protection....more

Latham & Watkins LLP

EBA Publishes No Action Letter on Interaction Between MiCA and PSD2

Latham & Watkins LLP on

In the short term, firms are likely to face dual authorisation and significant regulatory requirements. On 10 June 2025, the European Banking Authority (EBA) issued a No Action letter on the relationship between the...more

A&O Shearman

Further suite of technical standards supplementing MiCAR published in the OJ

A&O Shearman on

Three Commission Delegated Regulations supplementing Regulation (EU) 2023/1114 (the EU Markets in Crypto Assets Regulation) (MiCAR) have been published in the Official Journal of the European Union, namely: - Commission...more

Moore & Van Allen PLLC

The Desk: June Edition

While there was some—albeit limited—Enforcement activity in May (click here for last month’s enforcement actions), in this month’s Round-Up we want to highlight some updates that suggest the Enforcement front may continue to...more

Wiley Rein LLP

[Podcast] Crypto Advocacy in Action: A Conversation with Coinbase's Nick Carden

Wiley Rein LLP on

In this episode, Frank welcomes two distinguished guests: Nick Carden, Associate General Counsel at Coinbase, and Michael Toner, Chair of Wiley's Election Law and Government Ethics Practice. Together, they discuss the...more

Ballard Spahr LLP

OCC, FDIC eliminating ‘reputational risk’ from supervision, examinations

Ballard Spahr LLP on

The OCC has removed “reputational risk” from its handbooks and guidance and the FDIC is moving to do the same. ...more

Orrick, Herrington & Sutcliffe LLP

FDIC Acting Chairman Hill outlines policy updates on bank formation, digital assets, and resolution planning

On April 8, FDIC Acting Chairman, Travis Hill, provided an update on the FDIC’s policies since his last speech two and a half months ago (covered by InfoBytes here) and outlined the agency’s future plans on de novo bank...more

Troutman Pepper Locke

FDIC Turns a New Page on Banks’ Engagement in Crypto-Related Activities

Troutman Pepper Locke on

Last Friday, the Federal Deposit Insurance Corporation (FDIC) announced the rescission of Financial Institution Letter (FIL-16-2022) and issued new guidance clarifying the process for FDIC-supervised institutions to engage in...more

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