Paradigm and Hyperliquid File Joint Comment on Treasury's Stablecoin AML Rules
Paradigm and Hyperliquid filed a joint comment with the U.S. Treasury on proposed AML and sanctions rules for stablecoin issuers under the GENIUS Act. The comment recommends preserving stablecoins' role in onchain markets while improving legal clarity for issuers and developers.
In a second regulatory front today, @Paradigm filed a joint comment with @HyperliquidPC on Treasury’s AML and sanctions rules for stablecoin issuers under GENIUS. FinCEN and OFAC got a lot right, but work remains to provide legal certainty to both issuers and developers.
Today we filed a comment with @paradigm on @USTreasury's proposed rule for stablecoin issuers. U.S.-regulated stablecoins power billions of dollars in daily trading, lending, and settlement. Our comment offers recommendations to preserve their critical role in onchain markets. https://x.com/Hyperl
Happy to work with @paradigm on these recommendations to help combat illicit finance while ensuring U.S.-regulated stablecoins can continue to power onchain markets. Read more about @USTreasury's proposed rule and our comment here ⬇️
The GENIUS AML rulemaking sits at a dangerous crossroads. Stablecoins can become a freer, faster, more open form of digital money, or they can become the backbone of an identity-linked financial surveillance system more comprehensive than anything possible in traditional banking. coincenter.org/co
Coin Center has filed a response to FinCEN and OFAC concerning AML/CFT programs and sanctions compliance for stablecoin issuers. We urge the agencies to do the following: 1. Recognize that overcollection of sensitive customer information can increase cybercrime, fraud, and downstream money launderi
Coin Center has filed a response to FinCEN and OFAC concerning AML/CFT programs and sanctions compliance for stablecoin issuers. We urge the agencies to do the following: 1. Recognize that overcollection of sensitive customer information can increase cybercrime, fraud, and downstream money launderi
Coin Center has filed a response to FinCEN and OFAC concerning AML/CFT programs and sanctions compliance for stablecoin issuers. We urge the agencies to do the following: 1. Recognize that overcollection of sensitive customer information can increase cybercrime, fraud, and downstream money launderi
Hyperliquid and Paradigm push Treasury to shield DeFi in stablecoin rules @HyperliquidX's policy arm and @paradigm pushed back on Treasury. On the final day of the comment window, the two filed a joint comment on the GENIUS Act's stablecoin rules, backing the framework overall but flagging one risk
In a second regulatory front today, @Paradigm filed a joint comment with @HyperliquidPC on Treasury’s AML and sanctions rules for stablecoin issuers under GENIUS. FinCEN and OFAC got a lot right, but work remains to provide legal certainty to both issuers and developers.
Hyperliquid advocate and Paradigm urge US to revise proposed anti-money laundering rule
Hyperliquid advocate and Paradigm urge US to revise proposed anti-money laundering rule https://t.co/vxiMkxSKnn
Hyperliquid Policy Center（HPC）与 Paradigm 联名致函美国财政部，呼吁修改 FinCEN 和 OFAC 为落实 GENIUS Act 而提出的反洗钱规则草案。双方支持将稳定币发行商的合规义务主要限定在一级市场，但认为 OFAC 拟将责任延伸至智能合约驱动的二级市场交易，可能使发行商对无法实际控制的交易承担责任，从而削弱受监管稳定币在 DeFi 和开放区块链环境中的应用。两家机构建议进一步收窄相关定义，并重新审视智能合约交互的监管要求。（The Block）wublock123.com/news/paradigm-…
Hyperliquid Policy Center and Paradigm urge Treasury to narrow stablecoin rules for DeFi