Blockchain Association files comments on Treasury's GENIUS Act stablecoin rule, seeking clearer definitions
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Promote with Leviathan NewsThe Blockchain Association filed comments on Treasury's proposed rule implementing Section 3 of the GENIUS Act, which governs who may issue, offer, and sell payment stablecoins in the U.S. While applauding Treasury's efforts, it raised several concerns: "digital asset service provider" should exclude self-custody software, validators, and firms trading their own assets; criminal liability for "knowingly participating" should require actual knowledge and substantial assistance; exchanges should rely on Congress's public lists of registered foreign issuers; and location rules should use actual knowledge for permissionless protocols. It also urged revisiting cost estimates and aligning effective dates.
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Thread · 3 events · started 9 Jul 12:58 · last update 20 Oct 01:20
- UpdateOCC expects final GENIUS Act stablecoin rules before the end of October6 acc.
- UpdateGENIUS Act stablecoin rulemaking faces agency deadlines ahead of implementation2 acc.
- UpdateBlockchain Association seeks clearer GENIUS Act stablecoin-rule boundaries3 acc.
- Leviathan published this article
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- @wublockchain12 吴说区块链On X ↗
吴说获悉，美国区块链协会于 10 月 19 日向美国财政部提交关于《GENIUS 法案》第 3 节实施规则的正式意见，要求明确数字资产服务提供商（DASP）的监管边界，确保自托管软件、区块链验证者、DeFi…
- @TheBlockCo The BlockOn X ↗
THE BLOCK: The Blockchain Association has filed comments on Treasury's proposed rule implementing Section 3 of the GENIUS Act, which governs who can issue and sell payment stablecoins in the U.S. The group backed Treasury's core approach but called for clearer lines on the…
- @BlockchainAssn Blockchain AssociationFirst reportOn X ↗
1/ We filed comments today on @USTreasury's proposed rule implementing Section 3 of the GENIUS Act, covering who can issue, offer, and sell payment stablecoins in the U.S. We applaud Treasury’s implementation efforts. Our letter seeks clearer lines so the final rule matches what…
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