News & Analysis as of

Payment Systems Digital Assets

K&L Gates LLP

Will Payment Stablecoins Mean the End of State Money Transmitter Licensing?

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The GENIUS Act (Act) allows “permitted payment stablecoin issuers”—which term includes nonbanks that are either Federal qualified payment stablecoin issuers (FQPSI) (regulated by the OCC) or State qualified payment stablecoin...more

Morgan Lewis

The GENIUS Act’s Stablecoin Regulatory Scheme Promotes Uniformity But May Fall Short

Morgan Lewis on

As the stablecoin market continues to evolve at lightning speed, regulation of these innovative financial products has strived to keep apace. While the GENIUS Act in the United States has created a robust regulatory...more

Loeb & Loeb LLP

Wyoming Debuts First U.S. State-Issued Stablecoin — Frontier Stable Token (FRNT)

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Wyoming has officially launched the Frontier Stable Token (FRNT), the first stablecoin in the U.S. issued by a public entity. Fully backed by U.S. dollars and short-term treasury bills, with reserves legally required to...more

Orrick, Herrington & Sutcliffe LLP

RegFi Episode 71: GENIUS Act: Establishing a Federal Regulatory Framework for Stablecoins

Mona Elliot and Sam Canavos of Patomak Global Partners join RegFi co-hosts Jerry Buckley and Sherry Safchuk to discuss the newly enacted GENIUS Act, its goals and implications for the stablecoin market. The conversation...more

K&L Gates LLP

The White House Working Group on Digital Asset Markets Report: What it Means for Stablecoins and Payments

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On 30 July 2025, the President’s Working Group on Digital Asset Markets published its long-awaited report, entitled “Strengthening American Leadership in Digital Financial Technology” (the Report). The Report introduces...more

Carey Olsen

The GENIUS Act - a boost for fund tokenisation

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The recently passed GENIUS Act might provide a major boost for the tokenisation of funds. A regulated, blockchain-based payment mechanism brings the automation of payments by tokenised funds a step closer. Drawdowns and...more

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

Hogan Lovells

The Payments Newsletter including Digital Assets & Blockchain, August 2025

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Key developments of interest over the last month include: the U.S. Consumer Financial Protection Bureau's decision to restart the open banking rulemaking process; the UK FCA's publication of a policy statement with final...more

Orrick, Herrington & Sutcliffe LLP

Fed governor highlights private sector innovation and regulatory collaboration in evolving payments landscape

On August 19, Fed Governor Christopher Waller delivered remarks at a blockchain symposium, emphasizing the ongoing evolution of payment systems driven by advances in computing, data processing, and distributed networks....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

Goodwin

Stablecoins: An Alternative Payment Method for Merchants?

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A new wave of payment innovation is upon us, and it is fueled, at least in part, by digital-first consumers’ and merchants’ concerns about the rising costs of traditional payment methods....more

Mayer Brown

FATF Revises AML Standards For Certain Funds Transfers

Mayer Brown on

On June 18, 2025, the Financial Action Task Force (“FATF”) revised the Travel Rule requirements for certain funds transfers (the “2025 Revisions”). The 2025 Revisions are intended to adapt anti-money laundering (“AML”)...more

Winthrop & Weinstine, P.A.

The Basics: Stablecoins and The GENIUS Act

A stablecoin is a type of cryptocurrency designed to maintain a fixed value—most often pegged to the U.S. dollar—by being backed 1:1 with reserves. Think of it as a digital IOU: for every $1-pegged coin in circulation, the...more

Lowndes

From Cash to Crypto: Could USD Stablecoins Be the High Road for Florida’s Cannabis Industry

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Why Are Florida’s Cannabis Businesses Still Stuck in the Cash Age? In Florida, licensed medical marijuana businesses may be legal under state law, but under federal law cannabis remains a Schedule I controlled substance....more

Alston & Bird

President’s Working Group Declares a New Era for Digital Assets

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What Happened? On July 30, 2025, the President’s Working Group on Digital Asset Markets released a comprehensive Digital Assets Report, outlining a national strategy for cryptocurrency and blockchain. Declaring a departure...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

BakerHostetler

Weekly Blockchain Blog - August 2025 #2

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Traditional and Digital Asset Companies Announce New Products, Acquisitions - In a recent press release, a global payments technology company announced expanded support for stablecoin- and blockchain-based settlement...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

BakerHostetler

Weekly Blockchain Blog - August 2025

BakerHostetler on

US Fintech and Digital Asset Companies Announce Stablecoin Initiatives - A major U.S. fintech company recently announced a partnership with the issuer of the USDC stablecoin “to give financial institutions the ability to...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

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

A&O Shearman

Mansion House: HMT policy paper on wholesale financial markets digital strategy

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HM Treasury has published a policy paper on the wholesale financial markets digital strategy. The purpose of the strategy is to ensure the UK benefits from opportunities to improve its wholesale financial markets, by using...more

Eversheds Sutherland (US) LLP

The GENIUS Act: US law for payment stablecoins

The first piece of major US federal legislation in the global digital assets space was signed into law on July 18, 2025, by President Trump.1 Declared by President Trump as positioning the United States to be the “crypto...more

Hogan Lovells

The Payments Newsletter including Digital Assets & Blockchain, July 2025

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Key developments of interest over the last month include: the UK government's communications in connection with the Chancellor's annual Mansion House speech, and the launch of its Financial Services Growth and Competitiveness...more

Ropes & Gray LLP

Senate Passes Landmark Legislation to Regulate Payment Stablecoins

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On July 18, 2025, U.S. President Donald J. Trump signed the GENIUS Act (Guiding and Establishing National Innovation for U.S. Stablecoins Act), an act designed to establish a framework for the regulation of “payment...more

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