Stable Rules for Stablecoins: Treasury Proposes AML and Sanctions Framework for Issuers
Brad A. Resnikoff, Matthew Bisanz, Tamer A. Soliman, Jeffrey P. Taft, Andrew Olmem, and Kelly F. Truesdale; Mayer Brown
On April 8, 2026, FinCEN and OFAC issued a joint Notice of Proposed Rulemaking to implement the anti-money laundering and sanctions compliance provisions of the GENIUS Act for permitted payment stablecoin issuers (“PPSIs”).
The Proposed Rule would treat PPSIs as “financial institutions” under the BSA, require PPSIs to establish and maintain AML/CFT programs, and—for the first time—explicitly mandate that a category of US persons…
Read MoreThe Stablecoin Stumbling Block
Daniel Heller, Financial Times
The crypto tokens are not yet safe enough to be used at scale in the settlement of large, wholesale financial transactions
The belief that blockchain technology and tokenisation of assets will play a prominent role in the future financial system has gained steady traction in recent years. Initiatives such as the Genius Act in the US, which set a regulatory framework for stablecoins, have further reinforced this trend…
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Coalition Urges Congress to Advance Digital Asset Legislation
Melina Druga, Financial Regulation News
A coalition of more than 120 digital asset companies and organizations recently sent a letter to the U.S. Senate Committee on Banking, Housing, and Urban Affairs, urging it to move forward with a markup of digital asset market structure legislation.
The coalition requests the committee establish a comprehensive federal market structure framework for digital assets to provide regulatory certainty, protect consumers and to ensure the United States remains the global leader in financial innovation…
Read MoreResource: U.S. Crypto Policy Tracker: Legislative Developments
Latham & Watkins
Click on for the latest legislative developments related to blockchain, cryptocurrencies, and digital assets, at both federal and state levels.
Digital Asset Market Clarity (CLARITY) Act of 2025 [H.R. 3633]
On May 29, 2025, House Committee on Financial Services Chairman French Hill introduced the Digital Asset Market Clarity (CLARITY) Act, which would establish a regulatory framework for digital assets in the US…
