Blockchain Law After the 2026 US CBDC Ban: What Banks and Counsel Need to Know
On 23 June 2026, the US Senate passed the 21st Century ROAD to Housing Act 85-5, embedding a four-year ban on the Federal Reserve issuing a central bank digital currency (CBDC) through 31 December 2030 — while explicitly exempting private, privacy-preserving stablecoins. The House followed the next day. The result hands Circle and Tether, which together account for roughly 87% of the $230 billion stablecoin market, a clear regulatory lane, while the Bank of England moves in the opposite direction, publishing its draft Code of Practice for systemic sterling stablecoins on 22 June 2026 and the European Central Bank continues toward a 2029 digital euro launch. Three major currency blocs, three different paths — and three different sets of legal exposure for banks, payment institutions and their counsel.
This is precisely the terrain mapped by Blockchain Technology and the Law: Opportunities and Risks, now in its second edition. Muharem Kianieff, Full Professor of Law at the University of Windsor and a specialist in banking law and payment mechanisms, was among the first scholars to offer a critical legal and economic analysis of blockchain. The second edition adds two new chapters covering Non-Fungible Tokens, stablecoins, and the emergence of CBDCs — plus an examination of the DAO case, the Cicada case, and the Celsius and FTX collapses that pushed regulators worldwide to tighten enforcement and draft new rules.
For law firms advising banks and fintechs, for compliance teams at payment institutions, and for academic law libraries tracking the field, this is a single-volume reference that connects the technology to the regulatory reality — from the US GENIUS Act framework for stablecoin issuers to the EU's MiCA regime and the UK's emerging systemic stablecoin code. With three major jurisdictions now diverging sharply on CBDCs while converging on stablecoin regulation, understanding the legal logic behind both tracks is becoming essential reading rather than optional background.
The book is written for practicing lawyers, jurists and academics, and belongs on the shelves of law firm libraries, law faculties, business schools and universities engaging with the legal architecture of digital money.
Explore more titles in our Economics & Finance Collection.
Q&A
Where can I buy Blockchain Technology and the Law: Opportunities and Risks?
Directly from CLNZ Books, with worldwide shipping included — view the book here.
What changed in US CBDC policy in June 2026?
Congress passed a ban on the Federal Reserve issuing a retail CBDC through 31 December 2030, embedded in the 21st Century ROAD to Housing Act, while explicitly exempting private dollar-denominated stablecoins that preserve user privacy.
Does the book cover stablecoin regulation?
Yes — Chapter 8 of the second edition is devoted to Non-Fungible Tokens and Stablecoins, directly relevant to frameworks like the US GENIUS Act and the EU's MiCA regulation.
Why are the UK and EU taking a different approach to CBDCs than the US?
The Bank of England is advancing a draft Code of Practice for systemic sterling stablecoins while keeping a digital pound under review, and the European Central Bank continues working toward a digital euro launch targeted for 2029 — a more centralized approach than the US private-issuer model.
Who should read this book?
Banking and finance lawyers, fintech compliance officers, regulators, and academic law libraries seeking a comparative legal framework for blockchain, payments and digital currency regulation.