#美国区块链协会提交genius法案意见
$ETH
Blockchain Association Submits Comments on the GENIUS Act
Federal Regulatory Framework for U.S. Stablecoins Nears Implementation
Guys,
The battle over U.S. stablecoin regulation
has now moved into the details of the rules.
The Blockchain Association recently submitted comments to the U.S. Treasury Department,
proposing changes to the implementation rules for the GENIUS Act.
It supports establishing a regulatory framework for stablecoins,
but believes certain lines of responsibility must be clearly defined.
What is the GENIUS Act?
It is U.S. federal legislation targeting payment stablecoins.
Its main requirement is that
stablecoin issuers must maintain reserves equal to 100% of their outstanding stablecoins.
Reserves must consist primarily of highly liquid assets, such as cash and short-term U.S. Treasury securities.
It mandates monthly reserve disclosures and annual audits for large issuers,
establishing stablecoin regulatory standards at the federal level.
The Blockchain Association's key requests
The Association broadly supports the GENIUS Act framework,
but has submitted comments proposing improvements to the details.
1. Require stablecoin reserve assets to be segregated,
keeping customer funds separate from company funds
to reduce the risk of a run;
2. Simplify the alignment of state regulatory standards
to avoid conflicts between overlapping state and federal oversight
and reduce compliance costs;
3. Support banks in issuing stablecoins in compliance with regulations
and encourage traditional financial institutions to enter the market.
Keep regulation principles-based
and avoid imposing too many rigid technical requirements,
leaving room for blockchain innovation.
The detailed implementation rules are currently being developed.
This is a positive development for the U.S. dollar stablecoin sector over the medium to long term,
and supports the narrative of U.S. dollar dominance.
A long-term positive.
$ETH
Blockchain Association Submits Comments on the GENIUS Act
Federal Regulatory Framework for U.S. Stablecoins Nears Implementation
Guys,
The battle over U.S. stablecoin regulation
has now moved into the details of the rules.
The Blockchain Association recently submitted comments to the U.S. Treasury Department,
proposing changes to the implementation rules for the GENIUS Act.
It supports establishing a regulatory framework for stablecoins,
but believes certain lines of responsibility must be clearly defined.
What is the GENIUS Act?
It is U.S. federal legislation targeting payment stablecoins.
Its main requirement is that
stablecoin issuers must maintain reserves equal to 100% of their outstanding stablecoins.
Reserves must consist primarily of highly liquid assets, such as cash and short-term U.S. Treasury securities.
It mandates monthly reserve disclosures and annual audits for large issuers,
establishing stablecoin regulatory standards at the federal level.
The Blockchain Association's key requests
The Association broadly supports the GENIUS Act framework,
but has submitted comments proposing improvements to the details.
1. Require stablecoin reserve assets to be segregated,
keeping customer funds separate from company funds
to reduce the risk of a run;
2. Simplify the alignment of state regulatory standards
to avoid conflicts between overlapping state and federal oversight
and reduce compliance costs;
3. Support banks in issuing stablecoins in compliance with regulations
and encourage traditional financial institutions to enter the market.
Keep regulation principles-based
and avoid imposing too many rigid technical requirements,
leaving room for blockchain innovation.
The detailed implementation rules are currently being developed.
This is a positive development for the U.S. dollar stablecoin sector over the medium to long term,
and supports the narrative of U.S. dollar dominance.
A long-term positive.