RIA digital-asset regulatory change ledger
Which authority changed what, for whom, on what date, and what an advisor must do next.
FASB prepares proposal on digital assets as cash equivalents
FASB completed initial deliberations and directed staff to draft a proposed Accounting Standards Update clarifying when certain digital assets may be classified as cash equivalents and adding related disclosures and…
FinCEN and OFAC propose GENIUS Act AML and sanctions programs for stablecoin issuers
FinCEN and OFAC jointly proposed treating permitted payment stablecoin issuers as financial institutions under the BSA and requiring risk-based AML/CFT and sanctions compliance programs.
FDIC proposes GENIUS Act standards and reserve treatment for supervised stablecoin issuers
The FDIC proposed approval and operating standards for FDIC-supervised permitted payment stablecoin issuers, treatment of reserve deposits, and tokenized-deposit distinctions, then separately proposed BSA and sanctions…
FinCEN proposes risk-based AML/CFT program reform
FinCEN proposed superseding its 2024 AML-program proposal with a framework emphasizing effective, reasonably designed, risk-based programs;
Treasury proposes principles for certifying state stablecoin regimes
Treasury proposed broad principles for deciding when a state payment-stablecoin regulatory regime is substantially similar to the federal GENIUS Act framework.
DOL proposes an ERISA prudence safe harbor for plan options with alternative assets
DOL proposed clarifying ERISA prudence duties and a safe harbor for selecting designated investment alternatives, including asset-allocation funds containing alternative assets, in response to Executive Order 14330.
Treasury and IRS propose an alternative electronic-delivery process for Form 1099-DA
Treasury and the IRS proposed an alternative process for brokers to furnish Form 1099-DA electronically without the existing affirmative-consent and withdrawal framework, subject to enhanced electronic notice and…
SEC proposes higher small-entity thresholds for advisers and investment companies
The SEC proposed increasing asset-based thresholds that define small investment advisers and investment companies for Regulatory Flexibility Act analysis, adding periodic inflation adjustments, and amending Form ADV…
FDIC proposes approval procedures for bank-subsidiary stablecoin issuance
The FDIC proposed application and approval procedures for FDIC-supervised banks and savings associations seeking to issue payment stablecoins through subsidiaries under the GENIUS Act.
House passes a digital-asset illicit-finance working-group bill
The House passed the Financial Technology Protection Act of 2025.
House passes a bill restricting Federal Reserve central-bank digital currency activity
The House passed the Anti-CBDC Surveillance State Act.
House passes a Commerce Department blockchain leadership bill
The House passed the Deploying American Blockchains Act of 2025.
SEC seeks comment on foreign-private-issuer eligibility
The SEC issued a concept release examining whether the foreign-private-issuer definition and related accommodations remain appropriate.
How to read the ledger
Each entry names its posture: a binding action, a proposal, guidance, enforcement, or a political signal. A speech is not a rule and a bill is not a law. Every entry starts from the primary document and lists what is still open, rather than turning a headline into permission.
Coverage and corrections
The ledger follows the U.S. authorities that matter to registered investment advisers, plus state actions of national weight. A published version never changes. A correction or a changed reading creates a new version at the same address, and every earlier version stays in the JSON ledger.
Educational analysis for financial professionals. Not legal, tax, compliance, or investment advice. Verify current primary sources and consult qualified counsel before implementation.