Sky Blog
Since the Second World War, the U.S. dollar has been the dominant global currency for trade, settlement, and reserve purposes. As other countries seek to move away from the dollar system, key U.S. policymakers believe that the rise of dollar …
On April 8, 2026, the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (“FinCEN”) and the Office of Foreign Assets Control (“OFAC”) jointly issued a notice of proposed rulemaking (“NPR”) to address anti-money laundering (“AML”) and countering the financing …
The GENIUS Act, enacted in July 2025, provides a federal regulatory framework for stablecoin issuers, including a carveout that, under certain conditions, allows states to oversee issuers of less than $10 billion. After the law went into effect, the …
On February 25, 2026, the Office of the Comptroller of the Currency (the “OCC”) issued a proposal to implement significant portions of the Guiding and Establishing National Innovation for U.S. Stablecoins Act, known as the GENIUS Act (the “Act”), which …
The enactment of the Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS) Act established the nation’s first federal prudential framework for “payment stablecoins,” mandating 1:1 reserve backing and explicitly prohibiting issuers from paying interest.[1] This legislative bargain was …
The Guiding and Establishing National Innovation for U.S. Stablecoins Act (“GENIUS Act”) establishes the first comprehensive federal framework for “payment stablecoins” in the United States. The bill’s most discussed, and debated, provision is Section 4(a)(11), which provides:
No …
Key Points:
On September 19, 2025, the US Department of the Treasury (Treasury) issued an Advance Notice of Proposed Rulemaking (ANPRM), seeking public comment related to its implementation of the Guiding and Establishing National Innovation for US Stablecoins Act (the GENIUS Act), …
The convergence of emerging financial technologies and traditional diplomatic relations has created novel challenges for legal frameworks governing digital asset regulation and conflicts of interest in government. Recent developments involving the Trump administration, United Arab Emirates (UAE) investment entities, and …
The enactment of the GENIUS Act of 2025 marks a watershed moment in American cryptocurrency regulation, establishing the first comprehensive federal framework for payment stablecoins.[1] Yet within this law lies a provision that may fundamentally reshape the balance between …
President Trump entered the White House in January 2025 promising to make the United States the “Crypto Capital of the World.” The federal agencies and Congress are responding with unprecedented speed to make that a reality.
In the depth of …
Executive Summary
In July 2025, the U.S. House of Representatives passed the Anti-CBDC Surveillance State Act (H.R. 1919), legislation prohibiting the Federal Reserve from issuing a central bank digital currency (CBDC) directly to the public.¹ Days later, President Trump signed the Guiding …
On July 18, 2025, President Trump signed into law the Guiding and Establishing National Innovation for U.S. Stablecoins Act (the “GENIUSAct” or the “Act”), a first-of-its kind bill that establishes a comprehensive federal regulatory framework …
After nearly two decades of regulatory uncertainty, digital assets stand at a critical juncture in American financial law. On July 18, 2025, President Trump signed the “Guiding and Establishing National Innovation for US Stablecoins Act,” known as the GENIUS Act, …
On June 17, 2025, the Senate passed the GENIUS Act, shorthand for the Guiding and Establishing National Innovation for U.S. Stablecoins Act, by a bipartisan vote of 68-30, with 18 Democratic Senators supporting the Bill. The GENIUS Act would amend …
Stablecoins have emerged as a central pillar of the digital asset ecosystem, offering a bridge between traditional fiat currencies and decentralized finance. The GENIUS Act, a stablecoin regulation proposal, is advancing with bipartisan support through the U.S. Senate.[1] Given …
Congress seems on its way to passing the first piece of federal crypto-regulation, the Guiding and Establishing National Innovation for U.S. Stablecoins – or GENIUS – Act. The law would create a comprehensive regulatory framework for payment stablecoins, which are …