GENIUS Act Public Comment Period Closes; Treasury, FDIC, FinCEN, OFAC to Finalize Stablecoin Rules
The public comment period for the GENIUS Act, a US stablecoin legislative framework, closed today. a16z filed a response stressing state regime alignment with federal rules as regulators prepare to finalize implementation.
TODAY: 🇺🇸 The public comment period on the GENIUS Act closes today, with the Treasury, FDIC, FinCEN, and OFAC expected to soon finalize implementation rules.
Today @a16zcrypto filed our response to the U.S. Treasury's GENIUS Act NPRM—one of the first federal efforts to implement U.S. stablecoin legislation. This one sets the standard for how state regimes can comply with the federal framework. Here’s why that matters: 1⃣ State regimes need to align wi
RT @milesjennings: Today @a16zcrypto filed our response to the U.S. Treasury's GENIUS Act NPRM—one of the first federal efforts to implemen…
TODAY: 🇺🇸 The public comment period on the GENIUS Act closes today for the Treasury, FDIC, FinCEN, and OFAC, which are expected to soon finalize implementation rules.
TODAY: 🇺🇸 The comment period on the GENIUS Act closes today for the Treasury's stablecoin rules, bringing the legislation one step closer to implementation.
TODAY: 🇺🇸 The comment period on the GENIUS Act closes today for the Treasury's stablecoin rules, bringing the legislation one step closer to implementation. https://t.co/NB02j4AKfm
Today @a16zcrypto filed our response to the U.S. Treasury's GENIUS Act NPRM—one of the first federal efforts to implement U.S. stablecoin legislation. This one sets the standard for how state regimes can comply with the federal framework. Here’s why that matters: 1⃣ State regimes need to align wi
Today, June 2, is the close of Treasury’s GENIUS Act comment period on state regulatory equivalence. The big picture is now clear: the GENIUS Act is law, and the remaining fight is implementation. FinCEN/OFAC and FDIC comments close June 9, NCUA closes July 17, and the statutory backstop is January
Today, we filed a comment letter with @USTreasury on how state stablecoin rules should be judged under the GENIUS Act. States should have a role in overseeing smaller stablecoin issuers, but the rules need to be clear and consistent across the country. Stablecoins only work if consumers and market
Continuing the GENIUS rulemaking sprint, @Paradigm filed a comment today on @USTreasury's proposed rule governing when a state regime is “substantially similar” to the federal one for stablecoin issuers. Treasury got the core architecture right, but there is room for improvement.
吴说获悉，加密风投机构 Paradigm 向美国财政部提交意见函，就《GENIUS Act》下州级稳定币监管框架“实质相似性”认定规则提出修改建议。Paradigm 支持财政部提出的整体框架，但认为部分条款可能影响州级发行路径的实际可用性，包括：在 OCC 相关实施细则尚未最终确定前，不应完成该规则制定；应为州级监管框架认证设定 180 天审批期限、补正程序及具体拒绝理由说明要求；允许各州根据发行人规模和风险状况设定运营支出保障要求，而非统一要求覆盖 12 个月运营成本；并明确限制个别州通过扩大收益限制或阻碍跨州经营等方式对州级稳定币发行人施加额外约束。https://t.co/2lMBp6c