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Stablecoins Regulatory Oversight

Mayer Brown

Key House Committee Chairs Release Draft Bill on Digital Asset Market Structure: Bill Would Establish CFTC/SEC Regulatory...

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On May 5, 2025, the Republican committee chairs in the US House of Representatives with jurisdiction over digital asset legislation released a digital asset market structure discussion draft bill (the “Discussion Draft”). The...more

Seyfarth Shaw LLP

Recent Passing of Hong Kong Stablecoins Bill

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On May 21, 2025, Hong Kong’s Legislative Council passed the Stablecoins Bill, establishing a regulatory framework for stablecoins–cryptocurrencies whose value is tied to an external asset or commodity. This marks an important...more

Hogan Lovells

The Payments Newsletter including Digital Assets & Blockchain, May 2025

Hogan Lovells on

Key developments of interest over the last month include: draft legislation to regulate BNPL credit in the UK (in contrast to the de-prioritising of enforcement of BNPL regulatory breaches in the US); final confirmation of UK...more

Vedder Price

SEC Division of Corporation Finance Staff Issues Guidance on Crypto Assets

Vedder Price on

As previously summarized here, since SEC Commissioner Mark T. Uyeda was named Acting Chairman on January 21, 2025, the SEC has significantly shifted its approach to cryptocurrency regulation and enforcement actions, including...more

Paul Hastings LLP

Support for Stablecoin Legislation and Leadership Confirmations

Paul Hastings LLP on

While the House and Senate were out of session for the last two weeks, federal financial regulators and legislators took a wide range of actions impacting the future of digital asset policy. Senate Banking Chair Tim Scott...more

Latham & Watkins LLP

SEC Staff Clarifies That Certain Dollar-Backed Stablecoins Do Not Implicate the Securities Laws

Latham & Watkins LLP on

The Staff noted that a stablecoin generally is not subject to SEC jurisdiction if it is not an investment and used solely for commercial activity....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

King & Spalding

OCC Clarifies Crypto-Asset Guidance

King & Spalding on

The Office of the Comptroller of the Currency (“OCC”) and the Federal Deposit Insurance Corporation (“FDIC”) have both recently taken actions and issued statements that indicate a more permissive bank regulatory approach to...more

K&L Gates LLP

United States: Staff Cedes Jurisdiction Over Certain Stablecoins

K&L Gates LLP on

On 4 April 2025, the SEC’s Division of Corporation Finance (Division) issued a statement (Statement) providing that the offer and sale of certain “Covered Stablecoins” do not involve the offer and sale of securities within...more

ArentFox Schiff

SEC Commissioner Crenshaw Critiques Stable Coin Analysis: Understates the Risks

ArentFox Schiff on

On April 4, US Securities and Exchange Commission (SEC) Commissioner Caroline A. Crenshaw, the sole Democrat serving as a Commissioner, issued a statement critiquing the Division of Corporation Finance’s analysis in its...more

A&O Shearman

SEC staff takes a position on the security status of USD-backed stablecoins

A&O Shearman on

On April 4, 2025, the staff of the SEC’s Division of Corporation Finance (the “Staff”) issued a statement concluding that a narrow class of USD-backed, fully reserved, non-yield-bearing stablecoins (“Covered Stablecoins”) do...more

Sheppard Mullin Richter & Hampton LLP

CSBS Flags Key Risks in Draft Stablecoin Legislation

On April 1, the Conference of State Bank Supervisors (CSBS) submitted a letter to the House Financial Services Committee expressing concerns with an introduced draft of H.R. 2392—the Stablecoin Transparency and Accountability...more

Katten Muchin Rosenman LLP

Banking Agencies Begin Publishing Updated Crypto Guidance

On March 28, the Federal Deposit Insurance Corporation (FDIC) rescinded Biden administration guidance related to state-chartered banks' participation in "crypto-related activities" and published a new interpretation of the...more

Brownstein Hyatt Farber Schreck

Regulating Digital Dollars: How Federal Bills Stack Up

In November of 2021, the President’s Working Group on Financial Markets, joined by the Federal Deposit Insurance Corporation (FDIC) and the Office of the Comptroller of the Currency (OCC), issued a report formally...more

Latham & Watkins LLP

OCC Affirms Regulated Entities Can Engage in Crypto and Stablecoin Activities

Latham & Watkins LLP on

In a break from restrictive Biden-era policies, OCC-supervised banks may now engage in crypto without supervisory nonobjection, potentially opening new avenues for innovation....more

American Conference Institute (ACI)

[Event] 8th Forum on FinTech & Emerging Payment Systems - April 9th - 10th, New York, NY

ACI’s 8th Annual Legal, Regulatory, and Compliance Forum on Fintech & Emerging Payment Systems will provide in-depth guidance on the latest regulatory developments at the Federal and State Level that you need to be aware of....more

Latham & Watkins LLP

Hong Kong Consults on Proposed Approach to Stablecoin Legislation

Latham & Watkins LLP on

The proposed regulatory framework would create substantive obligations on issuers of fiat-referencing stablecoins to safeguard the public. On 27 December 2023, the Financial Services and the Treasury Bureau (FSTB) and...more

Latham & Watkins LLP

Illinois Considering Crypto Licensing

Latham & Watkins LLP on

A legislative initiative in Illinois would establish licensing and consumer protection requirements for digital asset businesses serving consumers in the state. On February 21, 2023, the Illinois Department of Financial...more

K&L Gates LLP

MiCA – Overview of the New EU Crypto-Asset Regulatory Framework (Part 2)

K&L Gates LLP on

This is Part 2 of a three-part series which examines the main elements of the new MiCA regime in the EU. As a recap, our discussion is based on the Compromise Text (published on 5 October), with references also made to the...more

K&L Gates LLP

MiCA – Overview of the New EU Crypto-asset Regulatory Framework (Part 1)

K&L Gates LLP on

On 30 June 2022, the new EU Market in Crypto-assets Regulation (MiCA) was agreed on between the European Commission (Commission), the European Parliament (Parliament), and the Council of the European Union (Council). MiCA is...more

K&L Gates LLP

Brussels Regulatory Brief: October 2022

K&L Gates LLP on

ANTITRUST AND COMPETITION - Commission Adopted the Revised Informal Guidance Notice for Novel or Unresolved Competition Issues - Following a public consultation, the European Commission (Commission) published on 3 October...more

Nelson Mullins Riley & Scarborough LLP

Gary Gensler the Righteous Man

In a recent speech,2 Gensler quoted the first Chairman of the SEC, Joseph Kennedy3 who noted: “No honest business need fear the SEC.”4 Unfortunately, Gensler failed to note that as the SEC often explains, whether a party has...more

Nelson Mullins Riley & Scarborough LLP

Change in Corporate Enforcement Policy, But How Much?

In a recent speech, SEC Chairman Gary Gensler quoted the first chairman of the SEC, Joseph Kennedy, who noted, “No honest business need fear the SEC.” Unfortunately, Gensler failed to note that as the SEC often explains,...more

Polsinelli

Senate Hearing Advocates Limited Digital Asset Regulation Reform Including CFTC Regulation of Bitcoin and ETH

Polsinelli on

On September 15, 2022, the Senate Committee on Agriculture, Nutrition, and Forestry (the “Ag. Committee”) held a hearing to discuss Senate Bill 4760, titled the Digital Commodities Consumer Protection Act of 2022 (the “Bill”)...more

WilmerHale

All About Web3: The Regulatory Outlook for Cryptocurrency

WilmerHale on

Cryptocurrency continues to dominate the headlines, from starting the year at a high with major TV ads to questions in recent weeks about the stability of the market. In this episode of In the Public Interest, co-host and...more

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