Key Contacts
The GENIUS Act: A Federal Framework for Payment Stablecoins
On July 18, 2025, the GENIUS Act was signed into law in the United States, establishing a federal regime to regulate payment stablecoins. The GENIUS Act provides a clear path for bank and nonbank issuance of payment stablecoins and marks a significant milestone in the United States’ efforts to regulate digital assets.
The Morrison Foerster Fintech and Digital Asset Groups will keep you informed about the latest and most significant stablecoin-related developments, including tracking implemented regulations domestically, as well as similar efforts across the world.
To keep current on these and related developments, subscribe for updates.
Regulatory Implementation Tracker
Featured Webinar
Featured Resources
Client AlertCross-Border Developments: A Comparison of UK and U.S. Regulatory Frameworks for Stablecoins
Both the UK and the U.S. are now advancing respective regulatory frameworks aimed at integrating stablecoins used in payments into their broader financial systems. In this alert, we outline the different approaches taken by the two countries and the broader importance of “comparable” regimes.
Client AlertUK Proposes Regulating Systemic Stablecoins
The Bank of England (BOE) released a consultation paper outlining a regulatory regime for UK payment stablecoins issued by non-banks. This paper addresses key definitions, obligations, and applicable regulators and represents the BOE’s “vision for the future” that the UK payments landscape be “multi-money.”
Client AlertNYDFS Settles with Stablecoin Issuer for Alleged Compliance Failures
In a recent settlement, New York State Department of Financial Services (NYDFS) left no doubt that it will continue to actively regulate cryptocurrency despite the pullback in law enforcement efforts by the federal government.
Client AlertCrypto-Asset Safekeeping: What’s Involved If You’re a Bank (or if You Want to Be One)
On July 14, 2025, the federal banking agencies issued a joint statement to clarify regulatory expectations for banking organizations that provide or are considering providing safekeeping for crypto-assets.
Client AlertThe GENIUS Act: A New Federal Regulatory Framework for Payment Stablecoins
On July 18, 2025, President Trump signed into law the GENIUS Act (S.1582). This landmark legislation sets forth a new federal regulatory framework for the issuance of payment stablecoins.
Client AlertKey Takeaways from the White House Crypto Report
On July 30, 2025, the White House released a 166-page report titled “Strengthening American Leadership in Digital Financial Technology”.
Speaking EngagementThe Future Impact of Stablecoins on the Financial SystemThis course provided participants with a comprehensive understanding of blockchain technology and digital assets, the regulatory framework for digital assets, and ongoing policy debates and reforms.
Client AlertCharting a New Course for Digital Asset Securities
On May 15, 2025, the Division of Trading and Markets of the U.S. SEC and the Office of General Counsel of FINRA withdrew the 2019 Joint Staff Statement regarding broker-dealer custody of digital asset securities, while simultaneously releasing new FAQs relating to crypto asset activities and distributed ledger technology.
Client AlertU.S. SEC Issues Statement on Stablecoins
On April 4, 2025, the staff of the U.S. SEC Division of Corporation Finance issued a statement on stablecoins, outlining the Staff’s view that certain stablecoins are not securities under the federal securities laws and therefore not subject to registration under the federal securities laws.