GENIUS Act Gets Real: Treasury Maps
Out Stablecoin Rules
One of the most waited US $BTC crypto updates came from stablecoins this week.
The GENIUS Act was already signed last year, what happened now is different: the Treasury published proposed rules explaining how the law could actually work in practice. They're open for public comment until October 19.
Among the new details:
- a stablecoin would generally be "issued" at its first transfer, not when tokens are minted
- foreign issuers can access the US market if they meet specific requirements
- exchanges and market makers could face liability for knowingly helping with an illegal initial distribution
- redeemed tokens transferred again could count as a new issuance
So this isn't another big political announcement. It's the stage where GENIUS starts turning into actual rules that issuers, exchanges and stablecoins like $USDT and USDC may have to work around.
And importantly: these rules aren't final yet
#Macro Insights# #Stablecoins #GENIUSAct
Out Stablecoin Rules
One of the most waited US $BTC crypto updates came from stablecoins this week.
The GENIUS Act was already signed last year, what happened now is different: the Treasury published proposed rules explaining how the law could actually work in practice. They're open for public comment until October 19.
Among the new details:
- a stablecoin would generally be "issued" at its first transfer, not when tokens are minted
- foreign issuers can access the US market if they meet specific requirements
- exchanges and market makers could face liability for knowingly helping with an illegal initial distribution
- redeemed tokens transferred again could count as a new issuance
So this isn't another big political announcement. It's the stage where GENIUS starts turning into actual rules that issuers, exchanges and stablecoins like $USDT and USDC may have to work around.
And importantly: these rules aren't final yet
#Macro Insights# #Stablecoins #GENIUSAct