September 2025 – FinTech and Blockchain Law Watch

Will Payment Stablecoins Mean the End of State Money Transmitter Licensing?

Sep 04 2025

By: Judith Rinearson, Jennifer L. Crowder, and Joshua L. Durham

The GENIUS Act (Act) allows “permitted payment stablecoin issuers”—which term includes nonbanks that are either Federal qualified payment stablecoin issuers (FQPSI) (regulated by the OCC) or State qualified payment stablecoin issuers (SQPSI) (regulated by their qualifying state)—to:

Issue and redeem payment stablecoins;
Manage reserves;
Custody payment stablecoins, reserves, or private keys of payment stablecoins; and
Engage in activities that “directly support” the above listed activities.

The Global Stablecoin: Stablecoin Regulatory Framework in Singapore

Sep 03 2025

By: Lucas Nicolet-Serra, Edward Bennett, and Judith Rinearson

With the passage of the GENIUS Act in the US, there has been an increased focus on how different countries have approached Stablecoin regulation. This blog examines stablecoin regulation in Singapore.

Australia: Crypto in the Courts – ASIC v Finder Update

Sep 02 2025

By: Daniel Knight, Ben Kneebush and Thais Fernandes

The Federal Court of Appeal has dismissed ASIC’s appeal and upheld the primary judge’s decision that Finder Wallet’s (Finder) product “Finder Earn” was not a “debenture” and they did not have to hold an Australian Financial Services License (AFSL). ASIC is still considering the implications of this decision and have not yet indicated whether they will seek to appeal to the High Court of Australia.

Archive:September 2025