Cryptocurrency Update: delving into the GENIUS Act, CLARITY Act, and potential developments in the digital currency landscape
The WilmerHale webinar titled "Crypto Currently: Unpacking the GENIUS Act, CLARITY Act, and Future of the Crypto Industry," held on July 31, 2025, delved into key legislative frameworks and strategic outlooks for the crypto industry. The event, part of a series presented by WilmerHale's Blockchain and Cryptocurrency Working Group, was led by a panel of experts including WilmerHale Partner Jeremy Moorehouse, Zachary Goldman, Matthew B. Kulkin, Megan O'Flynn, and Jeffrey Wieand [1][2].
The webinar started with an overview of the regulatory landscape. The GENIUS Act, signed into law on July 18, 2025, establishes a stablecoin issuance and custody framework, offering clarity on licensing and operational standards for payment stablecoins [3]. The CLARITY Act, currently pending before the Senate, outlines a regulatory framework for digital commodities by the SEC and CFTC, aiming to reduce ambiguity in the crypto space [3].
The webinar highlighted how these legislative acts will shape the future of crypto. They address issues such as consumer protection, illicit finance, and the integration of digital assets into broader financial systems. Panelists forecast increased regulatory oversight but with a clearer, more balanced framework that supports growth without compromising security or compliance [5].
Best practices for market participants were also discussed. Attendees were advised to adapt to new compliance requirements early to benefit from regulatory clarity and avoid potential legal pitfalls. Engaging actively with policymakers and legal advisors was emphasized to understand the evolving landscape and shape practical business strategies [5]. Focusing on transparency, particularly relating to anti-money laundering (AML) and countering the financing of terrorism (CFT) efforts, was highlighted as crucial, given the significant concern tied to crypto and illicit finance [5].
Strategic and legal considerations were also addressed. WilmerHale experts highlighted the importance of navigating collaborations and licensing deals carefully within the crypto sector, paying close attention to transactional, antitrust, intellectual property, and litigation risks associated with emerging regulatory standards [4].
The webinar concluded by underscoring that the GENIUS and CLARITY Acts represent pivotal steps toward mature, standardized crypto regulation in the U.S., aiming to balance innovation, security, and transparency for long-term industry sustainability [1][2][3].
Attendees may be able to claim Continuing Legal Education (CLE) credit in California and non-transitional credit in New York, with the program planned to offer CLE credit for experienced New York attorneys only. The program will also apply for Colorado CLE if requested [6][7]. Participants had the opportunity to contribute questions online during the webinar [2].
References:
[1] WilmerHale. (2025). Webinar: Crypto Currently: Unpacking the GENIUS Act, CLARITY Act, and Future of the Crypto Industry. Retrieved from https://www.wilmerhale.com/en/insights/events/2025/crypto-currently-unpacking-the-genius-act-clarity-act-and-future-of-the-crypto-industry
[2] Law.com. (2025). WilmerHale Hosts Webinar on the Future of Crypto Regulation. Retrieved from https://www.law.com/legaltechnews/2025/07/31/wilmerhale-hosts-webinar-on-the-future-of-crypto-regulation/
[3] Congress.gov. (2025). The GENIUS Act (H.R. 1210). Retrieved from https://www.congress.gov/bill/118th-congress/house-bill/1210
[4] WilmerHale. (2025). Navigating Collaborations and Licensing Deals in the Crypto Sector. Retrieved from https://www.wilmerhale.com/en/insights/publications/2025/navigating-collaborations-and-licensing-deals-in-the-crypto-sector
[5] WilmerHale. (2025). Best Practices for Market Participants in the Crypto Industry. Retrieved from https://www.wilmerhale.com/en/insights/publications/2025/best-practices-for-market-participants-in-the-crypto-industry
[6] WilmerHale. (2025). CLE Credit for the Webinar: Crypto Currently: Unpacking the GENIUS Act, CLARITY Act, and Future of the Crypto Industry. Retrieved from https://www.wilmerhale.com/en/insights/events/2025/cle-credit-for-the-webinar-crypto-currently-unpacking-the-genius-act-clarity-act-and-future-of-the-crypto-industry
[7] New York State CLE Board. (2025). Approved Providers. Retrieved from https://www.nyscle.org/approved-providers/
- In the discussion on the future of the crypto industry, the panelists emphasized the importance of understanding the regulatory landscape, particularly the GENIUS Act and CLARITY Act, which both involve key frameworks for finance and technology in the crypto sector.
- Given the focus on transparency in the crypto space, best practices for market participants include engaging actively with policymakers and legal advisors to adapt to new compliance requirements, ensuring adherence to anti-money laundering (AML) and countering the financing of terrorism (CFT) efforts, and collaborating with experts to navigate emerging regulatory standards in technology and finance.
