Law and Regulation

With action Tuesday by the U.S. Senate to pass the GENIUS Act, the move to establish rules that would govern the burgeoning stablecoin industry now transits to the U.S. House of Representatives, where lawmakers have developed their own set of rules, the STABLE Act. Meanwhile, stablecoin-market participants are looking to the …

Efforts to attach the Durbin-Marshall Amendment to the proposed GENIUS Act, a bill to regulate stablecoins, have failed. The Senate moved late Wednesday to advance the stablecoin bill without any amendments. Efforts to attach the amendment, which is the latest version of the Credit Card Competition Act, to the GENIUS …

FlightLogger, a provider of software for flight training, has chosen BlueSnap Inc. as its payments provider globally. Gross proceeds to Circle Internet Group Inc. from its recent initial public offering came to $1.2 billion, a total that includes an agreement by underwriters to purchase an additional 5.1 million shares of Class A common stock …

The Teamsters Union, along with labor unions in the retail and food-service sectors, sent a letter to Congress Wednesday supporting the Durbin Marhsall Amendment to the GENIUS Act, a bill to regulate stablecoins. The endorsement is the latest salvo in the ongoing battle over the Credit Card Competition Act, which …

Cannabis remains a federally illegal drug in the United States, but various states have acted over the past decade to legalize it and sales continue to grow fast enough that the market remains potentially lucrative for processors and banks. An example of how a major financial institution has entered this …

Airlines, airline unions, and commercial aircraft manufacturers sent a letter to Congress late Monday voicing their opposition to attaching the Durbin Marhsall credit card amendment to the GENIUS Act, a bill to regulate stablecoins. The letter states that attaching the Durbin Marshall amendment to the GENIUS Act would impose “onerous, …

Illinois lawmakers extended the implementation date for the Interchange Fee Prohibition Act by 12 months early Sunday to July 1, 2026. Groups opposing the IFPA, the first law of its kind passed by any state, argued the law would cause “widespread economic disruption” and that it would place an undue …

As online marketplaces continue to reshape global commerce, the opportunities for these businesses—and their payment providers—are vast. Yet, as recent trends demonstrate, so are the risks. Online marketplaces and their payment providers are increasingly at the center of a growing web of sophisticated fraud, regulatory scrutiny, and legal accountability. Challenges …

Several organizations representing the payments industry sent a letter to Congress late Wednesday urging lawmakers not to pass legislation that will tax cross-border remittances originated in the United States and will require money transmitters to gather identity and citizenship verification data from the sender. The bill has advanced to the …

More states are introducing legislation exempting merchants from paying interchange on sales tax and tips. Bills are currently pending in Alaska, Massachusetts, and New York. In Alaska, the proposed bill, which was attached at the 11th hour to a bill authorizing businesses to pay employees using reloadable cards, has been …