GENIUS Act Could Reshape U.S. Dollar Stablecoin Regulation, Says Circle

TLDR: Circle urges full backing of payment stablecoins with cash or liquid assets for consumer protection. Foreign stablecoin regimes should meet GENIUS standards to gain Treasury recognition. Rulemaking must treat all dollar-like tokens equally to prevent regulatory evasion. Issuers must maintain wind-down plans and clear penalties for compliance breaches. Circle has submitted formal comments to [...]

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