Transcript Highlights:

• Wastewater infrastructure projects.
• Adding additional GROW projects without reducing the current list of GROW projects is difficult, but
• Obviously, if you project...
• Project Fund.
• Again, most of these projects will also be leveraged, so it's a public-private leveraging sector to bring

Transcript Highlights:

• <00:27:48.519> on $500,000 for the East Capa to project on $500,000 for the East Capa to project
• Priority numbers 2A and 2B follow. maintenance projects began a preferred maintenance projects began
• that whenever we're looking at projects that whenever we're looking at projects we<02:00:25.880>
• land since we try to work with private land since we try to work with private<02:02:08.040> land<
• <02:29:32.399> over could pay those kind of projects over could pay those kind of projects

Keywords: 910, house, all

Transcript Highlights:

• cost<03:33:04.160> any<03:33:04.640> any project plan project cost any any project
• Project.
• Project costs.
• Project. Undertakings and state. Eight. Project.
• Project costs include the project plan.

Keywords: 920, all

Summary: The meeting included a Senate recognition ceremony honoring the Winona High School boys basketball team for winning the 2026 Alabama High School Athletic Association 5A state championship. A resolution was read commending the team for its 101-40 victory over Silicag, noting the team’s record-setting performance, Brendan Davis’s MVP honor, the contributions of other players, and Coach Cedric Lane’s leadership. Senators and the lieutenant governor praised the players’ sportsmanship, the school community, and the team’s historic season, and copies of the resolution were presented to the team, coaches, and administrators. Several guests and school representatives also spoke briefly, including the coach and principal, who thanked the Senate and noted the team’s success and the principal’s retirement after 35 years. After the recognition, the Senate returned to session and adopted the Committee on Rules report setting the special order calendar. The calendar included Senate Bill 99 on the Ten Commandments, Senate Bill 298 on Class 3 municipalities, House Bill 381 on camp safety, Senate Bill 370 on tax increment districts, Senate Bill 363 on the Department of Economic and Community Affairs, House Bill 466 on firefighters, House Bill 95 on elections, House Bill 259 on stablecoin, and Senate Bill 342 on education. The chamber then took up SB 99, sponsored by Senators Kelly and Sessions. Senator Kelly described the bill as requiring local school boards to display the Ten Commandments, together with founding documents such as the Declaration of Independence, Constitution, Bill of Rights, and Alabama Constitution preamble, in certain history classrooms and common areas for grades five through 12, using donated displays and funds when available. He said the bill was intended as a historical and educational measure, not religious instruction, and emphasized the inclusion of a disclaimer stating Alabama is not establishing a religion. After extended debate and a petition to close debate from the Rules Committee, the Senate voted on the bill by long roll and passed SB 99, with the recorded vote announced as 30 yeas and 4 nays.

Transcript Highlights:

• restoration and those tidelands projects restoration and those tidelands projects that<00:15:37.680
• or crafting projects.
• Chairman, I'm happy to answer any questions. the projects they they select.
• It simply the projects they they select.
• <00:19:40.720> Um projects or crafting projects. Um projects or crafting projects.

Keywords: Ports and Marine Resources - Room 216, 30 January, 2026; 11:00 AM, 925, all

Summary: The committee first took up Senate Bill 2263, which would require Department of Marine Resources law enforcement officers to have probable cause before boarding or stopping a vessel or conducting a search at a marina. The bill sponsor said current law does not require probable cause for DMR stops, and members discussed complaints from constituents about boats being stopped and searched without cause, including checks for life jackets, fish measurements, whistles, and flares. Questions also raised whether the bill should be consistent with wildlife officers and other law enforcement standards; the sponsor noted a separate bill addressing freshwater officers was in another committee. The committee ultimately moved the bill forward with a do pass recommendation. The committee then considered Senate Bill 2264, a coastal restoration and conservation planning bill. The sponsor explained that Mississippi receives multiple streams of restoration-related funding, including RESTORE Act, GOMESA, tidelands, and other federal funds, but lacks a coordinated science-based plan for how those dollars should be deployed. The bill would create a technical advisory board with representatives from state agencies, universities, and an NGO to develop a strategic plan and annual report on priorities such as water quality, habitat loss, and Mississippi Sound restoration. Members confirmed the bill would not change executive branch control over the funds and that GCRF economic damage funds were not included. The committee adopted the bill and reported it out. Next, Senate Bill 2370 was taken up to allow airport authorities to remove abandoned vehicles using the same procedures available to municipalities and private landowners. The sponsor said airports were dealing with vehicles left in parking areas for long periods and needed authority to begin the abandonment process. The bill was reported out. Senate Bill 2618, which would authorize airport authorities to enter public-private partnerships for property on airport-controlled land, was amended with a reverse repealer so it could be studied further; the committee then adopted the amendment, passed the bill as a committee substitute, and reported it out. Finally, Senate Bill 2634, which would let DMR create and pay reserve officers for special events and other staffing needs, was also approved and reported out.

Transcript Highlights:

• Privately.
• projects, Healthy Soil projects, and Noxious Weed projects across the state.
• Project Fund, $51 million in over 400 active projects of Local Government Road Fund, and nearly $488
• We'll have an even flow of planned projects and ready-to-construct projects.
• fund to far smaller projects.

Keywords: 996, all

Transcript Highlights:

• These are very specific projects that we need, whether it's a new project or for this, it's to add redundancy
• And then when you enter capital assets in a system, you have to enter in project by project.
• And this was one of the projects on there.
• Project and it's progressed further.
• Alexis project.

Keywords: 908, all

Summary: The HR division continued work on the behavioral health budget, with members revisiting several funding items and generally agreeing to hold provider inflation increases until the full division picture is clearer. They tentatively supported additional funding for Community Connect and Free Through Recovery, as well as increases for the drug court program and peer support, while clarifying that some items were already in the House version and others were one-time or grant-related expenditures. The committee spent considerable time on a proposed $2 million behavioral health services program for nursing homes and basic care facilities. Senator Mathern brought revised language to describe a capitated payment model for training, consultation, and direct patient care for residents with medically based behavioral disorders and disruptive behaviors. Some members remained skeptical and wanted to see the amendment before deciding, but the discussion centered on whether the funding would help nursing homes accept patients who otherwise end up in state hospitals or acute care settings. Members also discussed several one-time funding items, including electronic health record and legacy system upgrades, network redundancy for the state hospital, partial hospitalization/intensive day treatment expansion, and a bathroom remodel at the Southeast Human Service Center. The committee restored the bathroom project to the original $972,000 estimate after concerns that the House reduction would not cover the needed ADA and plumbing work. They also debated a $12.96 million behavioral health facility grant for Altru in Grand Forks, with some members opposing it and others supporting it as a regional service expansion, but ultimately set it aside for later consideration. The meeting ended with staff flagging other sections of the bill, including the opioid settlement advisory language, the state hospital steering committee, behavioral health education grants, and the system of care grant. The chair announced that medical services would be taken up the next day, and members agreed to adjourn after planning to revisit unresolved behavioral health items and vote on the held bill later.

Transcript Highlights:

• We want our models to learn about the world, not private individuals.
• the possibility that our models might generate responses that include private or sensitive personal
• might generate responses that include private or sensitive personal information.
• The project was simple.
• While private enterprises can implement AI solutions within. or even days.

Summary: The subcommittee met to hear a panel discussion on artificial intelligence and automation in Florida government. Panelists from Worldwide Technology, OpenAI, the James Madison Institute, and the Florida Digital Service described AI as a tool to improve efficiency, constituent services, fraud detection, translation, HR workflows, public safety, and regulatory review, while emphasizing that AI should supplement rather than replace workers. They also stressed the importance of data readiness, workforce training, governance, and having existing technology systems and policies in place before broader deployment. Members asked about public records concerns, vendor vetting, model integrity, and how to balance innovation with privacy and security. Chief Schoonover said agencies are already using or exploring AI in areas such as Medicaid analysis, environmental data, emergency management, tax forms, and child support, and noted that the Digital Service publishes prohibited vendor and application lists. OpenAI discussed its red teaming, safety evaluations, privacy controls, and government products such as ChatGPT Gov, and said it does not train on personal data or target users with ads. The committee also discussed concrete examples of efficiency gains, including reduced call times, faster translation turnaround, and streamlined HR classification work, as well as concerns about job disruption and constituent access. In closing, members raised data center infrastructure and energy needs, with panelists noting that AI depends on substantial compute, power, cooling, and utility capacity. The chair concluded by encouraging continued dialogue and noting that future AI legislation should be targeted to specific problems rather than overly broad.

Transcript Highlights:

• More importantly in my time in the private sector, I've learned a lot.
• Because we've got transmission projects in the West that have been pending for 20 years.
• I am perfectly happy to work on any of the projects that the DOE is working on.
• It's a great project.
• Confranchise individual private property rights or the states? Absolutely, sir.

Keywords: nuclear energy, permitting process, energy production, public lands, national parks, uranium imports, legislative bills, infrastructure development

Summary: The committee meeting was dominated by discussions on a variety of legislative bills including major topics such as nuclear energy advancement, the effects of regulatory hurdles on energy production, and proposals to improve national park staffing and maintenance. Members expressed concerns over the federal government's handling of uranium imports and the necessity for maintaining a robust domestic nuclear supply chain. Efforts to streamline permitting processes to facilitate more efficient energy project development were also a focal point, alongside public testimony from stakeholders in the energy and environmental sectors. The meeting highlighted the urgent need for infrastructure development to meet rising energy demands while addressing climate change impacts.

Transcript Highlights:

• to the private school, you don't really know what they spent the money on.
• So before a project begins, does there have to be approval from...
• So then is it possible that a project could start without FAA approval?
• There were certain things that they had to do before a project could happen.
• And so all of that really does matter when it comes to these projects.

Summary: The Administrative Rules Subcommittee met to review a long agenda of agency rule changes, beginning with housekeeping on the order of business and then taking up rules from multiple state agencies. Early items included Department of Energy and Environment rules on landfill post-closure trust fund spending thresholds and liquefied petroleum gas standards, DFA’s odometer disclosure rule allowing electronic signatures and disclosures, and several Department of Health rules covering ionizing radiation, mobile home and recreational parks, lead-based paint, counseling licensure, hearing instrument dispensers, athletic training, dental specialties and compacts, nursing, pharmacy, physician assistants, medical compacts, speech-language pathology and audiology, radiologic technology, massage therapy, community health workers, doula certification, and cosmetology/body art. Most of these were described as technical updates, conformity with recent acts, federal standards, or compact participation, and nearly all were approved without objection after brief questions and, in many cases, no public comment. The committee also reviewed Department of Labor and Licensing rules on minimum wage/independent contractor standards, boiler rules, motor vehicle commission requirements for ATV/LSV dealers, professional wrestling regulation, appraiser qualifications, and military recruiting and retention programs. Testimony generally emphasized that the rules implemented recent legislation, updated fees or licensing standards, or streamlined existing processes. Members asked a few questions about fee structures, the rationale for regulating professional wrestling, and how the National Guard’s public-private partnership and incentive programs would work; the department said the recruiting incentives would be funded from existing appropriations and were intended to improve retention and force strength. These rules were also approved without objection. The most extensive discussion came on the Department of Education’s Arkansas Children’s Educational Freedom Account Program rule. The department said the revisions, based on Act 920 of 2025, were intended to add guardrails, clarify allowable expenses, and speed approval of core educational purchases. Changes included defining core educational expenses, limiting certain sports-related spending, adding an intentional misuse standard, restricting phone purchases except for disability-related needs, setting a $1,000 threshold for additional review of technology purchases, capping carryover funds at $8,500, and creating a reconsideration process for denied expenses. Members raised concerns about safeguards, appeals, sports equipment, provider credentialing, rural vendor access, and whether the department would be flexible or overly restrictive. The department said it would review every request, provide written explanations for denials, allow appeals up to the State Board, and refer suspected fraud to prosecutors if necessary. After hearing from 13 members of the public, the committee continued to discuss the rule, but the transcript ends before any final vote on the EFA rule is shown.

Transcript Highlights:

• :10.560> projects<00:04:10.920> include<00:04:11.280> roofs request these projects
• This would be the next major project and a series of projects from bonding bills that have funded the
• this project this project the<00:11:01.279> second<00:11:01.639> request<00:11:01.959
• not be funded um because they're private not be funded um because they're private facilities<00:
• Available for project completion?

Keywords: 1183, house

Transcript Highlights:

• This program has effectively partnered federal agencies with private sector entrepreneurs to scale research
• and development projects aimed at addressing the pressing challenges of the day.
• And we must leverage America's private capital markets backing the most innovative ideas.
• Private capital is critical to accelerating the development of next-generation defense tech.
• . as the budget projects are being developed, as the budget requests are being developed.

Keywords: SBIR, STTR, Innovate Act, small business, innovation, legislative reforms, economic growth, funding, technology transfer

Summary: The meeting focused on the Small Business Innovation Research and Small Business Technology Transfer Programs (SBIR-STTR), emphasizing the critical reforms necessary to enhance their effectiveness. Chair Ernst introduced the Innovate Act to streamline processes, ensuring funding is awarded based on merit and addressing existing abuses within the system. The discussion was robust, with numerous members expressing concerns about phase transitions and the need for targeted funding to support impactful technological innovations. The conversation also highlighted the program's importance in fostering economic growth, particularly for small businesses in rural areas, and the urgency for legislative changes as the program's authorization approaches expiration.

Transcript Highlights:

• So how does this impact the funded ratio projections? And again, these are projections.
• Projections, and again, these are projections, so they do assume all assumptions being met, which we
• And if I can direct your attention... projections, and again, these are projections, so they do assume
• They are Canadian private With one investment manager, Catalyst Capital, a Canadian private equity firm
• “This is the current projection.

Keywords: 959, house, all

Summary: The Joint Committee on Public Employee Retirement held a hearing focused on the Missouri State Employees’ Retirement System (MOSERS) and its long-term financial condition. MOSERS staff and its investment consultant reviewed the system’s structure, membership, funding policy, and investment approach. They reported a June 30, 2025 funded ratio of 55.4%, with about $17.4 billion in liabilities and $9.6 billion in assets, and explained that the board certified a 32% employer contribution rate under its minimum contribution policy, up from 30.25%, which will increase state appropriations. They also described the system as mature, with more retirees and inactive members than active employees, and said declining payroll growth has made it harder to improve funding. The presentation emphasized that recent board actions were intended to strengthen the plan over the long term, even though they increased near-term costs. Those changes included lowering the assumed investment return over time to 6.95%, updating mortality assumptions, moving from an open to a closed amortization schedule, and adopting a minimum employer contribution policy. The investment consultant said MOSERS historically used a more risk-balanced asset allocation than many peers, which helped explain weaker relative returns during a long period when public equities outperformed; the board has since shifted toward a more equity-oriented allocation. He said recent performance has improved, with the portfolio outperforming its policy index and ranking better against peers in the short term, though longer-term peer performance remains a concern. Committee members questioned why the funded ratio had declined over roughly 20 years and whether past investment and actuarial assumptions were too optimistic or too conservative. MOSERS officials responded that the current board is trying to correct earlier decisions and that the present strategy is more in line with industry practice. Members also discussed a proposed MOSERS bill package that would automatically refund small balances to terminated non-vested members and increase deferred compensation auto-escalation, with officials saying the refund provision would improve efficiency and return small balances sooner. The committee also briefly discussed ongoing litigation involving Catalyst Capital; MOSERS said attorney fees have been about $20 million so far, the case remains on appeal, and the damages amount is sealed. No formal votes were taken, and the committee adjourned after questions and discussion.

Transcript Highlights:

• Those projects are approximately a year and a half out.
• And it varies from project to project, right?
• and non-DOT projects.
• private sector, non-DOT projects through Honduras for concrete materials.
• It's still got to be trucked to the facility or to the project.

Summary: The Transportation Committee heard and acted on a series of transportation, licensing, and memorial bills. The first major item was CS/SB 462, the Department of Transportation agency package, which included provisions on transportation trust fund revenue for electric vehicles, county project reporting, speed limits, workforce grants, procurement and utility relocation procedures, airport participation, metropolitan planning, and related DOT administration. The committee adopted a substitute amendment after extensive discussion, especially over utility relocation reimbursement, penalties, and whether the bill was too rigid while stakeholders continued negotiating. Testimony came from industry and utility representatives both supporting the need to address delays and opposing the bill’s prescriptive approach. The bill passed 8-3. The committee then approved several specialty license plate and memorial measures. CS/SB 1024 added a United States Military Academy plate alongside the Naval Academy plate. CS/SB 824 created a Florida Highway Patrol specialty plate. CS/SB 666 created a Miami Northwestern Senior High School alumni plate, with supporters emphasizing the school’s history and scholarship uses for the revenue. CS/SB 916 authorized indemnification and insurance arrangements for commuter rail operations on the Brightline corridor, modeled on SunRail law, and was reported favorably after technical amendments. CS/SB 1290 updated DHSMV rules to conform to IFTA and federal motor carrier standards, raised the crash-damage reporting threshold, and made other registration and email-notification changes; CS/SB 1292 created a public-records exemption for certain email addresses used in motor vehicle and vessel notifications. CS/SB 1408 designated memorial highways for fallen officers Jesse Madsen and Elio Diaz, and CS/SB 1502 authorized FDOT blanket permits for mobile cranes to travel at night under specified conditions. All of these bills were reported favorably. The committee also received a lengthy informational presentation from FDOT on aggregates and the state’s construction-material supply chain. The witness described aggregate sources, transportation methods, recycling efforts, the importance of the Lake Belt and out-of-state imports, and the department’s supply-chain grant program. Senators asked about long-term reserves, stranded reserves, pricing, and the impact of regulation on future supply, and requested the study and a summary of regulatory impacts for members. The meeting concluded with no further business and adjournment.

Transcript Highlights:

• <00:37:57.240> and Minnesota with 175 jobs projected and Minnesota with 175 jobs projected
• <00:38:40.599> sector partner closely with the private sector partner closely with the private
• a very small number go to the private a very small number go to the private sector<00:57:10.480>
• > well as pro project implementation and well as pro project implementation and the<01:26:58.920>
• five years following the project close five years following the project close out<01:27:33.320><

Keywords: 1183, house

Summary: The House Higher Education Finance and Policy Committee met and approved the minutes from the previous meeting. The chair noted that agency overviews from the Office of Higher Education and other state agencies were not available, so the committee proceeded with University of Minnesota presentations instead. The committee also reviewed posted committee rules. University of Minnesota representatives gave an overview of the university’s research enterprise, describing it as a system of five campuses with a possible expansion to St. Cloud, and highlighting research strengths across campuses in agriculture, energy, natural resources, health, and the Twin Cities flagship campus. They said the university has more than $1.3 billion in annual research expenditures, receives most of its research funding from federal sources, and is ranked highly for both overall research and interdisciplinary research. Examples discussed included the Clinical and Translational Science Institute, the Forever Green initiative, and research tied to sustainable crops, health, and commercialization. Members asked questions about specific research areas, including biodegradable or renewable plastics, wheat research, food dyes, health and environmental toxins, and the market for winter camelina and winter pennycress. University staff said they could follow up with more detailed information and explained that the winter crop work is intended to become market-driven over time, while also improving soil health and creating new revenue streams for farmers. They also clarified that the university’s federal research funding includes money from NIH, NSF, DOE, DOD, and other agencies, and that the “other” funding category includes foundations, subawards, and internal university seed funding. The committee then heard a second University of Minnesota presentation focused on partnerships, commercialization, and workforce development. Testimony highlighted collaborations with industry and government partners such as U.S. Steel, 3M, Medtronic, Cisco, and defense-related industry leaders, as well as programs supporting microelectronics, AI, cybersecurity, and sustainable aviation fuels. No formal votes were taken beyond approving the minutes, and the committee ended the segment by moving on to the next testifier.

Transcript Highlights:

• I live in Los Lunas; I have a private well...
• that project.
• Do you ever work with Project ECHO at UNM?
• future well installation projects.
• I want to ask you about the ION project.

Keywords: 996, all

Transcript Highlights:

• So it allows them to flex for project and economic trends.
• So it allows them to flex for project and economic trends.
• And a lot of private donations.
• So 20% is through the private funding.
• So it's just the private funders.

Summary: The work session focused first on Washington’s apprenticeship system, especially building trades programs and support services. Labor and Industries staff explained how registered apprenticeship works in the state, including the role of the Washington State Apprenticeship and Training Council, the requirements for paid on-the-job training and classroom instruction, and the difference between apprenticeship and pre-apprenticeship. Panelists emphasized that apprenticeship is tied to actual jobs and training agents, and that many waitlists reflect a shortage of job openings and employer participation rather than a lack of interest. They also discussed youth apprenticeship, the growth of apprenticeship and pre-apprenticeship programs, and the use of Career Bridge and L&I’s database to help people find programs. Representatives asked whether the state should expand apprenticeship programs and how people can find openings. Speakers said more programs alone would not solve the backlog without more employers signing on as training agents and more apprenticeship utilization on projects. The panel also highlighted the Constructed Career Initiative, a grant-funded navigation and support program that helps people enter and stay in building trades apprenticeships through outreach, case management, and wraparound aid such as transportation, tools, and work clothes. A related nonprofit, Build Up, described similar support services, including prison-based boot and PPE programs and assistance for reentry participants. The panel said these services are especially important because apprentices often face unstable income, housing, food, and transportation barriers. The panel also discussed House Bill 2084 and the new Construction Training Pathway Oversight Committee, which is examining construction training in correctional facilities and how to create clearer pathways from prison-based training to apprenticeship, college, or work. Speakers said the committee is still in its early stages and will report to the legislature. The session ended with committee members thanking the panel and noting the importance of support services and referral networks for apprentices. The meeting then resumed at Renton Technical College, where college leaders and faculty discussed serving non-traditional students. The college reported strong enrollment growth, a median student age of 30, a diverse student body, and high job placement rates, while also noting significant budget cuts and program reductions from the prior year. Health care and early childhood education programs were highlighted, including efforts to expand access through hybrid scheduling, evening and Saturday classes, Spanish-language offerings, and in-person wraparound support for admissions, financial aid, and registration. Faculty said these changes were driven by student data and were aimed at helping working parents, English learners, and other non-traditional students complete credentials and enter family-wage careers.

Transcript Highlights:

• The remainder is appropriated to state agencies, judicial, and higher education projects.
• Some of the agency projects are for the benefit of local entities.
• So higher ed institutions prioritize projects on a five-year ICIP.
• So the projects are authorized specifically by the legislature in the bill.
• Chairman and Senator, it is on both public and private insurance.

Keywords: 996, all

Transcript Highlights:

• right now they've been getting a private right now they've been getting a private donations donations
• <00:45:33.599> are so that we know that these projects are so that we know that these projects
• They have a year to their project.
• <00:46:01.119> as public to come and see these projects as public to come and see these projects
• and encourage private funders. and encourage private funders.

Keywords: 1191, senate, all

Transcript Highlights:

• You mentioned the public-private partnership.
• One, the private sector knows exactly where those jobs are and what jobs are needed, what jobs will be
• And so there it's a great partnership, and of course the public-private partnerships do tend to work
• a lot of reasons uh one the private a lot of reasons uh one the private sector<00:02:48.159>
• <00:03:11.760> Partnerships course the public private Partnerships course the public private

Keywords: 1187, senate, all

Transcript Highlights:

• Stephanie Chan is our business project Stephanie Chan is our business project manager<00:58:11.520
• be compelled to give up your private be compelled to give up your private keys<01:02:32.480>
• So unlike a lot of other RWA projects or TradFi blockchain projects, we're really focused on expanding
• So unlike a lot of other RWA projects or TradFi blockchain projects, we're really focused on expanding
• So unlike a lot of other RWA projects or TradFi blockchain projects, we're really focused on expanding

Keywords: 1189, house, all

Summary: The Stable Token Study Commission held its first regular meeting, welcomed all remaining appointed members, and completed brief introductions from legislators and agency designees. The chair outlined the commission’s plan to use the first part of the enabling legislation as a “level-setting” discussion, focusing this meeting on the basics of blockchain, the current landscape for stablecoins and tokenized real-world assets, and leaving blockchain-based trust for a later meeting. No votes were taken. The main presentation came from Deanna Bario Zales of the Global Blockchain Business Council, who described stablecoins as increasingly converging toward fiat-backed or asset-backed models, with algorithmic designs viewed more cautiously. She said stablecoins are being used for payments, remittances, DeFi activity, cross-border transfers, retail use in high-inflation markets, and treasury functions, while noting risks such as peg instability, reserve transparency, counterparty and network risk, and possible capital flight from weaker banking systems. She cited growth in supply, wallet activity, and transfer volume, and said U.S.-pegged stablecoins dominate the market, with USDT and USDC leading. Zales also discussed tokenized real-world assets, describing them as digital representations of physical assets that can enable fractional ownership, liquidity, and faster settlement. She said the market is growing quickly, with institutional participation from firms such as BlackRock and Franklin Templeton, and projected continued expansion. She closed with an overview of regulatory developments, emphasizing the new U.S. stablecoin framework under the Genius Act, the proposed Clarity Act, OCC guidance, and similar regimes in the EU, UK, UAE, Singapore, Japan, and elsewhere, all of which she said are shaping compliance requirements and market development.