At an “unparalleled moment” for financial services regulation, Morrison Foerster partner Avy Mallik is closely tracking regulatory developments related to digital assets.
Mallik, who joined the law firm last month, was previously general counsel of the California Department of Financial Protection and Innovation, and director of fintech policy and senior counsel for the House Financial Services Committee.
While the Genius Act, which passed in July, indicates what the federal government wants to see in the digital asset space, states will also look to lead, Mallik said Oct. 27 at the Money20/20 conference in Las Vegas.
For instance, California’s new licensing system for crypto exchanges, third-party wallets, stablecoin issuers and crypto kiosks takes effect July 1, 2026; Mallik worked with the state’s governor and lawmakers on that legislation.
In fintech broadly, “there’s so much interest, there’s so much innovation occurring, that states will lead on some areas, and in other areas they will work in partnership with the federal government,” Mallik said in an interview with the Dive Newsdesk.
Money20/20 is owned by Informa, Banking Dive’s parent company.
