In recent weeks all eyes have been on Congress as various bills regulating digital assets advance. But state legislatures have been busy as well, with several considering new legislation on digital assets and cryptocurrency.Continue Reading ›
The GENIUS Act of 2025: Stablecoin Legislation Adopted in the US
The statute’s new regulatory framework for payment stablecoins paves the way for increased digital asset adoption and innovation.
On July 18, 2025, President Trump signed into law the Guiding and Establishing National Innovation for US Stablecoins Act (the GENIUS Act), legislation that establishes a regulatory framework for payment stablecoins. It is the first federal legislation
Banking Agencies Issue Joint Statement on Risk-Management Considerations for Cryptoasset Safekeeping
Banking organizations safekeeping digital assets for customers must do so in a safe and sound manner and in compliance with applicable laws and regulations.
By Arthur S. Long, Parag Patel, Pia Naib, and Deric Behar
On July 14, 2025, the Board of Governors of the Federal Reserve System (FRB), the Federal Deposit
SEC Staff Clarifies Disclosure Expectations for Crypto Asset Exchange-Traded Products
The Staff highlighted disclosure-related observations and issues identified during reviews of digital asset ETP filings.
By Jenny Cieplak, Paul M. Dudek, Zachary Fallon, Aaron Gilbride, Stephen P. Wink, and Deric Behar
On July 1, 2025, the Securities and Exchange Commission’s (SEC’s) Division of Corporation Finance (the Staff) published a Statement
A Giant LEAP Forward: Hong Kong Consults on Crypto Dealing and Custody
Government plans to supercharge the digital assets industry, with crypto dealing and custody regimes the icing on the cake for a holistic regulatory framework.
By Simon Hawkins, Adrian Fong, and Sam Maxson
On 26 June 2025, the Hong Kong Financial Services and Treasury Bureau (FSTB) issued its second policy statement on the development
Hong Kong’s Stablecoin Regime Comes Into View
Taking effect in August 2025, the new legislation will bring issuers of fiat-referenced stablecoins into the regulatory perimeter.
By Simon Hawkins, Adrian Fong, and Sam Maxson
On 21 May 2025, the Legislative Council of Hong Kong passed the Stablecoin Bill, which was then gazetted as the Stablecoins Ordinance. It will come into
EBA Publishes No Action Letter on Interaction Between MiCA and PSD2
In the short term, firms are likely to face dual authorisation and significant regulatory requirements.
By Stuart Davis, Gabriel Lakeman, Brett Carr, and Emma Trankeenan
On 10 June 2025, the European Banking Authority (EBA) issued a No Action letter on the relationship between the Markets in Crypto-Assets Regulation (MiCA) and the Payment
SEC Staff Clarifies That Certain Protocol Staking Activities Do Not Implicate the Registration Requirements of the US Federal Securities Laws
The Staff clarifies that protocol staking does not qualify as a security under the Howey test, clearing the way for market participants to engage in staking.
By Jenny Cieplak, Zachary Fallon, Yvette D. Valdez, Stephen P. Wink, Naim Culhaci, Adam Bruce Fovent, Donald Thompson, and Deric Behar
On May
SEC Staff Withdraws Statement on Broker-Dealer Custody of Digital Asset Securities and Issues Crypto FAQs
The Staff’s most recent actions continue to set the stage for notice-and-comment rulemaking long-awaited by the digital asset industry.
By Zachary Fallon, Stephen P. Wink, Naim Culhaci, Donald Thompson, and Deric Behar
On May 15, 2025, the Securities and Exchange Commission’s (Commission or SEC) Division of Trading and Markets (the Staff)
OCC Affirms Banks Can Engage in Crypto Custody and Execution Activities
The federal banking agencies continue to open the channels for regulated entities to engage in digital asset activities.
By Arthur S. Long, Parag Patel, Pia Naib, and Deric Behar
On May 7, 2025, the Office of the Comptroller of the Currency (OCC) published Interpretive Letter 1184 (a response to an inquiry from