New York continues to set the highest bar for virtual currency-related businesses, but what does that mean for stablecoin issuers in a post-GENIUS world?

New York is not retreating from stablecoin supervision after the July 2025 passage of the Guiding and Establishing National Innovation for U.S. Stablecoins Act.

Instead, on June 9, the New York State Department of Financial Services released for public comment a proposed new Part 202 to Title 23 of the New York Codes, Rules and Regulations, which would materially enhance New York's existing regulatory requirements for payment stablecoin issuers and align them with the federal framework.


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