U.S. Treasury Proposes State Regulatory Standards Under the Genius Act

Treasury Publishes Stablecoin Regulatory Proposal

On April 1, the U.S. Treasury announced the publication of a Notice of Proposed Rulemaking (NPRM) aimed at regulating stablecoins under the Genius Act. This proposal initiates a public comment period to determine whether state-level regulatory frameworks are substantially similar to federal regulations.

The proposed rule allows stablecoin issuers with less than $10 billion in outstanding balances to opt for state regulation...