On July 18, 2025, President Trump signed into law the Guiding and Establishing National Innovation for US Stablecoins Act (“GENIUS Act”), marking a pivotal moment in the evolution of digital asset regulation. As the first comprehensive federal framework governing payment stablecoins, the GENIUS Act introduces a robust regulatory regime designed to enhance market integrity and consumer protection. The GENIUS Act will take effect on the earlier of (i) January 18, 2027 (i.e., 18 months following enactment) or (ii) 120 days following the issuance of final implementing regulations. For an in-depth look at the GENIUS Act, click here.
The GENIUS Act — A New U.S. Federal Framework for Stablecoin Issuers, Custodians and Banks
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Todd Beauchamp
Todd Beauchamp is a partner in Baker McKenzie’s DC office and serves as Chair of the Fintech & Payments practice in North America. Todd is recognized by Chambers and Legal 500 as a leading lawyer in fintech, payments, and financial services regulation, and by Lexology Index as a "Global Elite Thought Leader" for fintech.
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Usman M. Sheikh
Usman Sheikh is Chair of the Blockchain, AI & Fintech Practice (Canada). He is a Partner in Baker McKenzie's Toronto office, a member of the Firm's Transactional Practice Group and is also a member of the Litigation and Government Enforcement Practice Group. He leads the Firm's blockchain team (consisting of over 150 lawyers) globally, and co-leads the Firm's artificial intelligence (AI) team in North America. A highly regarded thought leader on emerging technology, Usman is often called upon globally by heads of governments, as well as key regulatory and governmental bodies, to provide insight and strategic input on legal and regulatory developments relating to emerging technologies, including FinTech, blockchain technology / digital assets, artificial intelligence (AI), Web2/Web3, quantum computing and the internet of things (IoT).
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Michael Garellek
Michael serves as the head of the Financial Services Regulatory Practice for Canada and is a Transactional Partner in Baker McKenzie's Toronto office. His practice focuses on Canadian financial regulation and compliance for fintechs, financial institutions and financial market participants, online marketplaces, blockchain and web3 devs. Michael has assisted many global companies establish and grow their businesses in Canada.
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Charles Weinstein
Charles Weinstein is a partner in Baker McKenzie’s US Fintech & Payments practice, based in the Firm’s DC office. Charles has significant experience advising banks, non-bank financial services companies, and technology companies of all sizes on a broad range of regulatory and commercial issues that arise in the payments, fintech, and consumer finance sectors. He has extensive experience in the areas of money transmission, electronic payments, e-commerce, digital wallets and stored value, virtual currency and digital assets, consumer credit, and other emerging payment and credit products.
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Adam Buehler
Adam Buehler is a senior associate in the Miami office of Baker McKenzie and a member of the North America Transactional Group. Adam represents clients in the areas of public and private offerings of debt and equity securities, public company securities law compliance, and global reorganization transactions.