This Week in Crypto Law
The opinion editorial below was written by Alex Forehand and Michael Handelsman for Kelman.Law.
This week in crypto law showcased a defining theme of 2026: digital assets are moving deeper into mainstream finance even as jurisdictional disputes and systemic-risk concerns intensify. From a major proposed Bitcoin ETF and new banking access for crypto firms, to growing international pressure for stablecoin coordination and a potentially consequential state-federal showdown over prediction markets, regulators and institutions continue shaping the next phase of crypto law.
Goldman Sachs Files for Bitcoin ETF
Goldman Sachs filed with the U.S. Securities and Exchange Commission to launch a Bitcoin ETF, another signal that digital assets are becoming embedded in regulated investment products. The filing underscores continued institutional confidence in crypto exposure through securities-law frameworks, while further blurring the distinction between traditional finance and digital asset markets. Each new crypto-linked registered product pulls digital assets deeper into conventional securities regulation, accelerating mainstream adoption while increasing the influence of traditional regulatory structures.
Pakistan Opens Banking Rails to Licensed Crypto Firms
The central bank of Pakistan announced licensed virtual asset service providers may now access the banking system, marking a notable shift from restriction to regulated integration. The move follows a new licensing regime requiring verification procedures and strict anti-money laundering controls. Pakistan’s approach reflects a broader global trend away from outright bans and toward supervised adoption—using licensing and banking access as regulatory tools rather than prohibitions.
BIS Calls for Global Stablecoin Coordination
The Bank for International Settlements warned that fragmented stablecoin regulation could create instability, regulatory arbitrage, and risks to monetary policy. The BIS urged coordinated international oversight, one of the clearest calls yet for a harmonized global framework for stablecoins. As stablecoins increasingly function as payment infrastructure, inconsistent regulation may become a systemic risk issue, elevating stablecoin oversight from market regulation to international financial policy.
France Pushes for Euro-Denominated Stablecoins
France is advocating stronger legal support for euro-backed stablecoins as policymakers raise concerns about U.S. dollar dominance in digital payments. French officials framed the issue as one of financial sovereignty, warning that Europe risks ceding control over emerging payment rails without stronger support for domestic issuers. Stablecoin regulation is increasingly intertwined with geopolitical and monetary policy considerations, not just financial innovation.
New York Challenges Coinbase and Gemini Prediction Markets
The New York Attorney General has sued Coinbase and Gemini, alleging their event-contract platforms constitute illegal gambling under state law. The exchanges contend these products fall within federal derivatives regulation, setting up a potentially significant jurisdictional conflict between state authority and federal oversight. This dispute could become a major test of federal preemption in crypto-adjacent markets and may ultimately shape how prediction markets are regulated nationwide.
Staying informed and compliant in this evolving landscape is more critical than ever. Whether you are an investor, entrepreneur, or business involved in cryptocurrency, our team is here to help. We provide the legal counsel needed to navigate these exciting developments. If you believe we can assist, schedule a consultation here.
This Week in Crypto Archive:
This Week in Crypto Law (Apr. 12, 2026)
This Week in Crypto Law (Apr. 5, 2026)
This Week in Crypto Law (Mar. 29, 2026)
