Spencer Fane attorneys Kirstin Kanski and Alex Schoephoerster recently authored an article for the Kansas Bankers Association (KBA) digital newsletter, e-Source.
Their piece, Embracing Innovation: Banking Digital Assets Beyond GENIUS, provides an extensive summary of the GENIUS Act and the broader regulatory and legal framework for banking digital assets such as stablecoin, bitcoin, and more. They also outline the opportunities this evolving space creates for the banking sector.
“Many of the largest banks have publicly announced their involvement in the digital assets ecosystem, including JPMorganChase, Morgan Stanley, Charles Schwab, PNC, Citibank, State Street, Bank of America, and BNY Mellon. Some have been incubating blockchain strategies for many years,” the team notes. “The relevance of blockchain technologies and digital assets is no longer in the distant future. Embracing innovation through informed strategy is no longer limited to the innovators and early adopters. The time is now to craft a digital asset strategy or risk being left behind.”
At Spencer Fane, Kirstin and Alex are part of the Bitcoin, Blockchain, and Digital Assets team, which covers a wide range of the most significant areas of the growing digital assets sector. As thought leaders in the industry, the attorneys have actively engaged in policymaking and advocating on behalf of clients through meeting with legislators and assisting with the drafting of bills and serving on the boards of organizations committed to education and adoption of blockchain technologies.
Read the team’s full e-Source article here.