News & Analysis as of August 21, 2025

Stablecoins

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Virtual Currency (aka Digital Currency or Digital Money) is a type of currency or medium of exchange that is not issued by any government nor guaranteed by a government currency. Despite lacking legal tender status, Virtual Currency is still traded and exchanged in some environments, typically online environments or communities. Bitcoin is the most well-known form of Virtual Currency. less -

The GENIUS Act Advances in the Senate

Troutman Pepper Locke on 5/28/2025

The U.S. Senate’s proposal to regulate stablecoins, known as the GENIUS Act, has successfully cleared a significant procedural hurdle, moving closer to a full floor debate. On May 19, lawmakers voted to invoke cloture on the...more

CFPB Proposes to Include Virtual Currency Transactions Under the EFTA

Goodwin on 1/14/2025

The Consumer Financial Protection Bureau (CFPB) issued a proposed interpretive rule that, if finalized as written, would bring certain virtual currency products and services, such as stablecoins and digital wallets, within...more

Connecticut Banking Commission Releases Advisory on Money Transmission

Sheppard Mullin Richter & Hampton LLP on 8/12/2022

On July 20, 2022, the Connecticut Department of Banking (the “Department”) issued a Consumer and Industry Advisory on Money Transmission (the “Advisory”). The Advisory provides general guidance on what types of activities and...more

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Virtual Currency › Consumer Financial Products › Stablecoins

The GENIUS Act Advances in the Senate

CFPB Proposes to Include Virtual Currency Transactions Under the EFTA

Connecticut Banking Commission Releases Advisory on Money Transmission

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