On August 19, the Fed’s Vice Chair for Supervision, Michelle W. Bowman, addressed a blockchain symposium and outlined the Fed’s approach to blockchain technology, the costs of “reputational risk” in bank supervision, and...more
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
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
On July 30, 2025, the President’s Working Group on Digital Asset Markets released its report titled “Strengthening American Leadership in Digital Financial Technology” (the “Report”), which outlines the United States’...more
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
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
On July 18, 2025, President Trump signed into law the Guiding and Establishing National Innovation for U.S. Stablecoins Act (the “GENIUS Act”), establishing the first U.S. statutory federal regulatory framework for payment...more
On July 18, 2025, President Trump signed into law S. 1582, the Guiding and Establishing National Innovation for U.S. Stablecoins Act (the “GENIUS Act” or the “Act”). The Act covers payment stablecoins[1]—a relatively new form...more