U.S. Crypto Regulation: GENIUS Act Delayed, Banks Gain Clarity

By: bitcoin ethereum news|2025/05/14 15:45:04
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Iris Coleman May 13, 2025 17:40 The U.S. regulatory landscape for cryptocurrency sees developments in stablecoin legislation, digital asset market structure, and banking clarity, according to a16z crypto. The U.S. cryptocurrency regulatory framework is witnessing significant developments as lawmakers and regulatory bodies engage in substantial discussions and actions. According to a16z crypto, efforts to establish a comprehensive regulatory environment for digital assets continue to evolve. Stablecoin Legislation and Market Structure The Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS) Act faced a setback in the Senate with a procedural motion failing by a 48-49 vote. Despite this, bipartisan negotiations are expected to persist, aiming for another vote in the near future. Concurrently, a discussion draft for a market structure regulatory framework for digital assets has been released by the House Committee on Financial Services, led by Chair French Hill. Banks and Crypto Clarity In a move that provides clarity to the banking sector, the Office of the Comptroller of the Currency (OCC) issued an interpretive letter. This letter confirms that national banks and federal savings associations can engage in crypto-asset activities such as custody and execution services, provided they adhere to appropriate third-party risk management practices. SEC’s Ongoing Engagement The Securities and Exchange Commission (SEC) continues to focus on cryptocurrency regulation. The SEC’s Crypto Task Force recently held roundtables on crypto custody and tokenization, emphasizing the importance of regulatory oversight in these areas. Global and State-Level Developments On the global stage, the European Union and other international entities are also making strides in cryptocurrency regulation. Domestically, individual states like New Hampshire are exploring investment opportunities in digital assets, with Governor Kelly Ayotte signing legislation permitting investments in digital assets with substantial market capitalization. These developments indicate a dynamic regulatory environment for cryptocurrencies in the United States, with ongoing discussions and legislative actions shaping the future of digital asset regulation. Image source: Shutterstock Source: https://blockchain.news/news/us-crypto-regulation-genius-act-delayed-banks-clarity

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