Non-Fungible Insights: Blockchain Decrypted
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July 31, 2025
|4 min read
Preparing for Change: FCA Consultations Redefine the UK Digital Assets Regulatory Landscape
2025 is shaping up to be a pivotal year for the regulation of digital assets in the UK. As the European Union’s Markets in Crypto-Assets is reshaping the EU’s regulatory landscape by introducing a unified framework for crypto-asset service providers, the UK Financial Conduct Authority is advancing its own agenda, guided by its Cryptoasset Roadmap, to ensure regulatory clarity while supporting innovation.
July 21, 2025
|21 min read
Real GENIUS: Landmark U.S. Federal Payment Stablecoin Legislation
On July 18, 2025, President Donald Trump signed into law the Guiding and Establishing National Innovation for U.S. Stablecoins Act of 2025 (the GENIUS Act or the Act), following its bipartisan passage by the Senate on June 17 (68–30) and the House on July 17 (308–122).
July 26, 2024
|2 min read
FSTB and HKMA Unveil Stablecoin Legislative Proposal
On July 17, 2024, the Financial Services and Treasury Bureau (FSTB) and Hong Kong Monetary Authority (HKMA) jointly issued a legislative proposal on stablecoin regulation in response to a two-month public consultation period with industry stakeholders. The consultation—which began earlier this year—generated 108 responses from market participants, industry associations, business organizations, and individuals, many of whom expressed support for a “well-regulated environment” as “a prerequisite for sustainable and responsible development of the stablecoin ecosystem in Hong Kong.”
February 21, 2023
|2 min read
SEC and the NYDFS Take Aim at Paxos
On February 13, 2023, Paxos Trust Company, LLC, a New York State-chartered trust company regulated by the New York State Department of Financial Services, confirmed via a statement that it received a Wells Notice from the Securities and Exchange Commission on February 3, 2023.
June 23, 2022
|5 min read
First Civil Litigation in the U.S. Brought in Response to the Crash of the Stablecoin TerraUSD
On June 13, 2022, a class-action lawsuit was filed in the Northern District of California against Binance U.S. (“Binance”), the United States-headquartered partner of one of the most prominent global digital asset exchange platforms. The named Plaintiff, who had purchased Terra USD (“UST”) through Binance since April 13, 2022, alleges, among other things, that Binance misrepresented UST as a “safe” asset to purchasers and violated U.S. federal and state securities laws.