US Treasury Proposes State Stablecoin Rules
Bitcoin & Crypto News Today | 2 Min News | The Daily News Now! · The Daily News Now!
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Show Notes
The US Treasury proposes new rules for state-level stablecoin regulation under the GENIUS Act, allowing states to manage stablecoins with market caps under ten billion dollars, provided they adhere to federal standards. States can add stricter rules but must maintain at least federal baseline strictness. The GENIUS Acts signing marks a significant step for crypto oversight, with crypto firms supporting potential yield-bearing stablecoins. Banks express concerns about customer deposits shifting to higher-yield options. Public comments are sought within sixty days to shape final regulations. Stablecoins with market caps over ten billion dollars fall under federal control.
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