Crypto Industry Group Asks Treasury To Clarify GENIUS Act Rules For DeFi
Photo: NewsBTC
TL;DR: The Blockchain Association has urged the US Treasury to draw clearer lines around DeFi software, foreign stablecoin issuers and who could face liability under proposed GENIUS Act rules. The fight over US stablecoin regulation is shifting from Congress to the details of implementation. In comments on Treasury’s proposed Section 3 rules under the GENIUS Act, the Blockchain Association has argued that a framework designed for regulated payment issuers should not inadvertently catch unrelated software and market participants. One sticking point is the definition of a digital asset service provider.
Also reported by Crypto Daily.
Source: NewsBTC
