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Payment Systems New Legislation

Ropes & Gray LLP

Senate Passes Landmark Legislation to Regulate Payment Stablecoins

Ropes & Gray LLP on

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

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

A&O Shearman

Council of the EU agrees position on PSD3

A&O Shearman on

On June 18, 2025, the Council of the European Union (EU) took a significant step forward in modernising the EU’s payment services framework by formally agreeing on its negotiating mandate for the Payment Services Directive 3...more

A&O Shearman

Council of the EU publishes comparison tables on Payment Services Package

A&O Shearman on

The Council of the EU has published initial four-column tables for the two key legislative proposals under the Payment Services Package: (i) the proposed Payment Services Directive (PSD3);...more

Seward & Kissel LLP

GENIUS Move? Senate Passes Bill to Regulate Payment Stablecoins

Seward & Kissel LLP on

On June 17, 2025, the Senate voted 68-30 with bi-partisan support to pass the Guiding and Establishing National Innovation for U.S. Stablecoins Act (“GENIUS Act”), which proposes the establishment of a federal framework for...more

Orrick, Herrington & Sutcliffe LLP

RegFi Episode 67: Stablecoins: The GENIUS Act Explained

FS Vector’s Jackson Mueller sits down with RegFi co-hosts Jerry Buckley and Sasha Leonhardt to discuss the recently Senate-passed GENIUS Act. They explore the regulatory requirements that would be established under the...more

McDermott+

The ongoing saga of the PFS conversion factor: will it get fixed?

McDermott+ on

July 2, 2025 – There has been a lot of talk recently about the future of the Medicare Physician Fee Schedule (PFS) conversion factor (CF) – the standardized dollar amount used to convert relative value units (RVUs) into...more

Cadwalader, Wickersham & Taft LLP

The Fine Print, June 2025 - Operation and Structure of the GENIUS Act of 2025 on Payment Stablecoins

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

McDermott Will & Emery

Barrierefreiheitsstärkungsgesetz (BFSG) und die betroffenen Bankdienstleistungen

McDermott Will & Emery on

Am 28. Juni 2025 tritt das Barrierefreiheitsstärkungsgesetz (BFSG) in Kraft. Das Kernziel des BFSG ist es, allen Menschen die barrierefreie Teilhabe am Wirtschaftsleben zu ermöglichen. So ist die Teilhabe an digitalen...more

A&O Shearman

The Payment Services and Payment Accounts (Contract Termination) (Amendment) Regulations 2025

A&O Shearman on

The Payment Services and Payment Accounts (Contract Termination) (Amendment) Regulations 2025 (SI 2025/688) have been published, alongside an explanatory memorandum. The regulations amend regulation 51 of the Payment Services...more

Shumaker, Loop & Kendrick, LLP

Client Alert: Senate Passes GENIUS Act

The recent advancement of the GENIUS Act marks a turning point in the regulatory treatment of stablecoins in the United States, establishing a federal framework for the issuance and supervision of payment stablecoins. The...more

Sheppard Mullin Richter & Hampton LLP

Illinois Delays Interchange Fee Ban by One Year

On June 1, the Illinois General Assembly passed a bill that, if enacted, will delay the effective date of the Interchange Fee Prohibition Act by one year, from July 1, 2025, to July 1, 2026. The law prohibits financial...more

Orrick, Herrington & Sutcliffe LLP

Illinois amendment to delay the effective date of its Interchange Fee Prohibition Act passes both chambers

On May 31, the Illinois General Assembly passed legislation to defer the effective date of the Interchange Fee Prohibition Act by one year until July 1, 2026. As previously covered by InfoBytes, Illinois originally enacted...more

Bass, Berry & Sims PLC

Bedlam No More: Oklahoma Formally Allows Credit Card Surcharges

On May 28, Oklahoma enacted SB 677, which became law without the signature of Oklahoma Governor Kevin Stitt. This new law repeals Oklahoma Statute Title 14A, Section 2-417, which previously barred sellers from imposing a...more

Orrick, Herrington & Sutcliffe LLP

Washington State enacts provisions to allow companies to deduct interchange fees

On May 20, the governor of Washington State signed into law HB 2020 which amends the state’s tax laws to exclude interchange fees from the business and occupation tax. The legislation stemmed from a lawsuit where a company...more

Blake, Cassels & Graydon LLP

Aperçu de l’évolution de la réglementation dans le secteur canadien des paiements en 2025

Les modifications réglementaires apportées à l’écosystème canadien des paiements redéfinissent le risque opérationnel, les obligations en matière de conformité et les modalités commerciales dans l’ensemble du secteur....more

Brownstein Hyatt Farber Schreck

Colorado Enacts the Model Money Transmission Act

On April 18, 2025, Colorado enacted the Model Money Transmission Modernization Act (MTMA) (HB 25-1201), which repeals and replaces the state’s previous Money Transmitters Act. The law updates standards for the licensing,...more

Ankura

An Update on the CSBS Money Transmission Modernization Act (MTMA)

Ankura on

The financial landscape is rapidly evolving, with digital payment solutions becoming increasingly integral to both consumers and businesses. Amidst this shift, the Money Transmission Modernization Act (MTMA) emerged as a...more

K&L Gates LLP

United States: The Continuing Shift to Modern Money Transmission Laws

K&L Gates LLP on

Within the past two months, three states have adopted the Money Transmission Modernization Act (MTMA). The governors of Virginia, Mississippi, and most recently Colorado, signed bills that implement the MTMA, and two other...more

Blake, Cassels & Graydon LLP

The Shape of Things to Come: Regulatory Developments in Canadian Payments 2025

Regulatory updates to Canada’s payments ecosystem are reshaping operational risk, compliance obligations and commercial terms across the sector. From interest rate thresholds to anti-money laundering safeguards, there are...more

A&O Shearman

HMT announces new rules for bank account closures and payment service terminations

A&O Shearman on

The HM Treasury (HMT) has published a draft statutory instrument introducing new rules requiring banks and payment service providers (PSPs) to give customers at least 90 days' notice before closing their account or...more

A&O Shearman

PSR annual plan and budget

A&O Shearman on

The UK Payment Systems Regulator (PSR) has published its annual plan and budget for 2025/26. The foreword by Aidene Walsh, Chair of the PSR, references the government's announcement to incorporate the PSR into the FCA and...more

Sheppard Mullin Richter & Hampton LLP

Colorado Overhauls Money Transmission Law to Align with Multistate Licensing Standards 

On April 16, the Colorado General Assembly enacted House Bill 25-1201, replacing the state’s prior money transmitter law with the Money Transmission Modernization Act (the “Act”). Modeled on the multistate framework developed...more

Troutman Pepper Locke

Navigating the Future of Payment Stablecoins: Legislative Updates and Market Implications — Payments Pros – The Payments Law...

Troutman Pepper Locke on

In this special crossover edition of the Payments Pros and Crypto Exchange podcast, Carlin McCrory is joined by colleagues Alex Barrage and Ethan Ostroff to discuss recent legislative updates surrounding payment stablecoins....more

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