Treasury’s Substantially Similar Principles for State Stablecoin Regimes Needs Recalibration
Nick Elledge, The Financial Brand
Regulatory changes in 2025 — including the GENIUS Act paired with new guidance from the OCC, FDIC, and Federal Reserve — opened the door for U.S. banks to launch their own digital asset products.
Since then, the drumbeat of announcements including products, partnerships, multi-billion-dollar acquisitions from the world’s largest financial institutions, stock exchanges, fintechs, card networks, and payments firms has created a strange combination of buzz and numbness…
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Conference of State Bank Supervisors
In a comment letter, the Conference of State Bank Supervisors (CSBS) urged the U.S. Treasury Department to amend its proposed principles for determining if state stablecoin regimes are substantially similar to the federal framework.
The CSBS-proposed changes would more effectively implement congressional intent to provide states discretion and flexibility to help ensure financial stability and protect consumers…
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PODCAST: The Mechanics of Tokenized Deposits
Jeremiah Buckley, Benjamin Hutten, Sasha Leonhardt, A. Daniel Ullman, II; Orrick, Herrington & Sutcliffe LLP/JD Supra
Orrick partners Dan Ullman and Ben Hutten join RegFi co-hosts Jerry Buckley and Sasha Leonhardt to examine the mechanics of tokenized deposits and the evolving regulatory framework surrounding digital payments.
They discuss the FDIC’s proposed treatment of tokenized deposits under the GENIUS Act, the infrastructure banks would need to support tokenized payment systems, interoperability challenges, and the implications for liquidity, compliance and financial crime monitoring. The conversation also explores how tokenized deposits may develop alongside stablecoins in the broader digital asset ecosystem…
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