The new draft of the GENIUS Act proposes to divide stablecoin regulation between state and federal authorities, adding enforcement and transparency requirements for issuers. Notably, it raises the threshold for state oversight to stablecoins with a market cap up to $10 billion and introduces a waiver process for larger issuers to stay under state supervision. Issuers must also follow new rules, including monthly liquidity reports and compliance with AML regulations, as the bill awaits amendments before a full Senate vote.
What is your reaction?
Excited
0
Happy
0
In Love
0
Not Sure
0
Silly
0