Regulatory Change Series: The State of Digital Asset Regulatory Action

For 2025, the theme in Washington, DC has been the federal government’s embrace of all things involving digital assets. Over the summer, Congress passed the GENIUS Act, which will regulate the use of stablecoins for payments and settlement transactions. Immediately after passing that law, Congress turned to consider the CLARITY Act, which will update the federal securities laws to facilitate issuance and trading of digital asset securities. While other issues have slowed passage of new legislation, we expect the CLARITY Act to remain a priority item on the legislative agenda. 

The Securities and Exchange Commission is not waiting for Congress to act, and has launched its own initiatives to support innovation and digital assets. These include consideration of a shift to 24/7 trading of equities, as well as the tokenization of equity securities to facilitate faster trading and settlement. We expect the SEC to move forward with these and other proposals later in the fall. 

Please join this webinar to hear how these developments in Washington will impact the US and global financial markets.