Blockchain Association Seeks Explicit Exemptions in GENIUS Act Rule
Photo: TokenPost
The Blockchain Association wants Treasury to spell out existing GENIUS Act exemptions in a proposed stablecoin rule, clarifying which crypto businesses would face U.S. issuance and sales restrictions. In comments submitted Oct. 19, the group focused on Treasury’s proposal to implement Section 3 of the law. The GENIUS Act already excludes specified self-custodial interfaces and validation activities from the definition of a “digital asset service provider.” Treasury’s proposal incorporates those exclusions by reference, but the association wants them stated directly in the rule.
Source: TokenPost
