Fintech Confidential How Regulators and Banks Completely Reshaped Crypto Rules in September 2025
Bitcoin hit $116K before $3.45 billion in liquidations while stablecoins transferred a record $15.6 trillion with bots executing 70% of that volume. Host Tedd Huff, CEO of Voalyre, and BakerHostetler Partner Robert Musiala break down what happened in crypto this month and why it matters to your business now. The SEC issued two major no action letters creating roadmaps for DePIN networks and state bank custody while Treasury opened a 58 question comment period closing October 20th on Genius Act implementation. The Wolfsburg Group published global AML guidance requiring banks to know their customer’s customer when serving stablecoin issuers as nine European banks formed a consortium to launch a MICA compliant Euro stablecoin by 2026. Market fragmentation accelerates as purpose built stablecoins target specific communities while USDT and USDC slip to 84% combined share despite growing absolute volumes. Security threats remain the biggest adoption risk even as regulatory clarity emerges. Learn the five moves compliance and product teams should make today: display fees before sends, segment use cases by ecosystem, publish clear redemption rules, run cross chain incident drills, and build a one page control map that speeds both sales cycles and audits. If you manage risk, product, or finance in payments or crypto, this episode gives you the regulatory context and practical steps to act without waiting for Congress.
LINKS
Confidential Informant:
Robert A. Musiala Jr., LinkedIn: https://www.linkedin.com/in/robert-a-musiala-jr-esq-cfcs-b6534bb/
Firm Profile: https://www.bakerlaw.com/professionals/robert-a-musiala-jr/
The Blockchain Monitor: https://www.theblockchainmonitor.com/
BakerHostetler: https://www.bakerlaw.com/
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Skyflow: Zero-trust data privacy vaults as an API to collect, secure, and tokenize personal information while keeping compliance and usability. Learn more: https://skyflowsecure.com
Hawk AI: Real-time screening, ML monitoring, and dynamic customer risk ratings to strengthen fraud and financial-crime prevention. Sign up for demo: https://gethawkai.com
ABOUT
Confidential Informant: Robert Musiala has worked in the crypto assets market since 2012. He has led major investigations, advised on compliance and product agreements across Web3 and NFTs, and co-leads BakerHostetler’s Web3 and assets team. He also authors The Blockchain Monitor with weekly legal insights.
BakerHostetler: A U.S. law firm advising clients from startups to Fortune 500 on blockchain-related matters, policy, compliance, and risk.
Host: Tedd Huff is Founder & CEO of Voalyre and DD3 Media and hosts Fintech Confidential, bringing clear, practical conversations on how money moves.
DD3 Media: A media creation, management, and production company delivering engaging fintech and Web3 content.
Chapters
00:00 Highlights
01:17 Dfns - Wallets as a Service (sponsor)
02:38 Kickoff
03:48 Lightning Round: Bitcoin and majors
05:15 Lightning Round: XRP, memecoins, staking pressure
06:28 Layer1 - Layer2 top News
07:29 Stable Coin Top News
09:02 Regulatory Landscape
11:38 Secuity Threats and Compliance
19:12 Bots = ~70% of the $15.6T stable coin transfers
20:37 Skyflow - Provacy Vault API (sponsor)
23:30 SEC pace and “rules of the road” setup
26:01 SEC rulemaking agenda explained
27:11 No-action letter: programmatic transfers and the Howey lens (DEPIN)
30:31 More no-action letters plus Treasury request for comments (ANPRM)
32:42 Wolfsberg guidance: bank risks and controls for stablecoin issuers
36:02 September summary: regulatory momentum and market impact
39:58 Rob's Top Three Take Aways
40:47 Tedd's Top Three Take Aways
43:22 Hawk Ai (sponsor)
44:08 Disclaimer