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U.S. Treasury FinTech Financial Services Industry

Sheppard Mullin Richter & Hampton LLP

Stablecoin Regulation Takes Effect Under Newly Enacted GENIUS Act

On July 18, the Guiding and Establishing National Innovation for U.S. Stablecoins Act (GENIUS ACT) was signed into law, creating the first federal regulatory framework for payment stablecoins. The law prohibits the issuance...more

Morrison & Foerster LLP

The GENIUS Act: A New Federal Regulatory Framework for Payment Stablecoins

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

Cozen O'Connor

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

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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

Holland & Knight LLP

Another Surprise in the One Big Beautiful Bill: Excise Tax on Remittances

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As Republicans in the U.S. Senate now consider the reconciliation bill, they will need to consider what tax provisions contained in the One Big Beautiful Bill (OBBB), passed by the U.S. House of Representatives on May 22,...more

Davis Wright Tremaine LLP

New Administration Outlook: The Future of Government Payments – No More Paper Checks Later This Year

New executive order mandates a general transition to electronic payments and the elimination of paper checks for federal payments, such as distributing tax refunds, Social Security benefits, veterans' benefits, and other key...more

Jones Day

Updates on Proposed Stablecoin Legislation: the GENIUS Act and the STABLE Act

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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

Paul Hastings LLP

Daily Financial Regulation Update -- Friday March 14, 2025

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March 13, 2025- The U.S. Senate Committee on Banking, Housing and Urban Affairs voted to advance the Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS) Act, legislation that establishes a regulatory...more

Katten Muchin Rosenman LLP

Executive Order Establishes Strategic Bitcoin Reserve and Digital Asset Stockpile

Bitcoin and other digital assets now have a welcome home in the United States government. On March 6, President Trump signed an executive order (the March 6 Order) establishing the Strategic Bitcoin Reserve and United States...more

Fenwick & West LLP

Rollback of DeFi Reporting Regs Advances Through Congress

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On March 4, 2025, the U.S. Senate passed joint resolution S.J.Res.3, disapproving the DeFi broker reporting regulations Treasury finalized at the end of the Biden Administration. Senator Ted Cruz (R-TX) introduced the...more

Troutman Pepper Locke

Treasury Secretary Bessent to Appoint Rodney E. Hood as First Deputy Comptroller of the OCC

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On February 7, Secretary of the Treasury Scott Bessent announced that he will appoint Rodney E. Hood as a Deputy Comptroller and designate him as the First Deputy Comptroller of the Office of the Comptroller of the Currency...more

Orrick, Herrington & Sutcliffe LLP

President Trump issues executive order on digital financial technology

On January 23, the White House issued Executive Order 14178: Strengthening American Leadership in Digital Financial Technology to promote “open access to banking services” and prohibit central bank digital currencies (CBDCs)....more

Troutman Pepper Locke

Troutman Pepper Locke Weekly Consumer Financial Services Newsletter – February 2025

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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

Paul Hastings LLP

PHFintech: Crypto Policy Tracker - December 13, 2024

Paul Hastings LLP on

A significant headwind for companies in the digital asset space is that they have reportedly struggled to secure and maintain relationships with banks, in what is now called “Choke Point 2.0.” With the incoming Trump...more

Troutman Pepper Locke

Will Resiliency Carry the Digital Asset Sector Through 2024?

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In 2023, the digital asset industry demonstrated remarkable resilience amidst significant challenges, including the dissolution of several digital asset financial services companies, numerous bank failures, and a $4.7 billion...more

A&O Shearman

UK Regulators Consult on Digital Securities Sandbox

A&O Shearman on

On April 3, 2024, the Bank of England and U.K. Financial Conduct Authority published a joint consultation paper on proposed rules for the incoming digital securities sandbox. The Financial Services and Markets Act 2023...more

WilmerHale

“Decentralized Finance (DeFi),” Fintech, Regtech, and the Financial Services Industry (Ch. 8A)

WilmerHale on

Decentralized Finance (DeFi) is an umbrella term used to describe financial services provided outside of the traditional markets, that rely on blockchain technologies to create innovative products instead of relying on...more

Nutter McClennen & Fish LLP

Nutter Bank Report: November 2023

Headlines 1. Recent Bank Failures The FDIC has issued a final rule that will impose special assessments to recover the loss to the Deposit Insurance Fund (Fund) arising from the systemic risk determination announced on March...more

Orrick, Herrington & Sutcliffe LLP

U.S.-UK partnership discuss fintech innovation

On October 30, the U.S. Treasury Department issued a joint statement on behalf of the U.S.-UK Financial Innovation Partnership (FIP) providing an overview of recent meetings where Regulatory and Commercial Pillar participants...more

Cadwalader, Wickersham & Taft LLP

Treasury Delivers Mother Lode of Tax Reporting Rules to the Crypto Industry’s Doorstep

On August 29, 2023, the IRS published detailed proposed regulations addressing digital asset broker reporting requirements (the “Proposed Regulations”). The Proposed Regulations elaborate on the 2021 changes to the Internal...more

Morrison & Foerster LLP

10 Tips for Fintechs in Navigating Sponsor Bank Relationships through this Banking Crisis

The current banking crisis, which in significant part has been focused on regional banks catering to fintech companies, is likely to result in increasing regulatory focus on an industry already subject to regulatory scrutiny....more

Orrick, Herrington & Sutcliffe LLP

Treasury seeks to advance CBDCs

On March 1, Treasury Undersecretary for Domestic Finance Nellie Liang announced that the Treasury Department will lead a new senior-level working group to advance work on a U.S. central bank digital currency (CBDC). ...more

Orrick, Herrington & Sutcliffe LLP

Treasury official highlights fintech, crypto assets, and cloud services challenges

On February 15, Treasury Assistant Secretary for Financial Institutions Graham Steele delivered remarks before the Exchequer Club of Washington, D.C., during which he discussed the U.S. Treasury Department’s financial...more

Wilson Sonsini Goodrich & Rosati

Focus on Fintech – Q4 2022

In this latest issue of Wilson Sonsini's Focus on Fintech newsletter, we discuss the FTX bankruptcy and the increased federal regulatory scrutiny of crypto assets, and new rules and innovations in the payments...more

Morrison & Foerster LLP

Treasury Calls for Enhanced Supervision of Fintech Partnerships

On November 16, 2022, the Department of Treasury (“Treasury”) issued a report titled “Assessing the Impact of New Entrant Non-bank Firms on Competition in Consumer Finance Markets” (“Treasury Report”), which, among other...more

Wilson Sonsini Goodrich & Rosati

Big Tech’s Competition Impacts on Payments and Retail Finance in Regulatory Spotlight

The UK Financial Conduct Authority (FCA) recently published a discussion paper (here) summarizing its preliminary findings on the potential competition impact of Big Tech entry into retail financial services. The FCA is now...more

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