GENIUS Act Rules Face New Questions After Ripple CLO Filing
Photo: CoinCentral
TLDR Ripple CLO Stuart Alderoty urges Treasury to protect stablecoin holders under the proposed GENIUS Act regulations. The NCA seeks temporary redemption windows when issuers lose authorization or fail to meet regulatory requirements. The association requests legal procedures to recover stolen stablecoins and replace assets under court orders. The NCA wants self-custody wallets and direct peer-to-peer transfers excluded from certain distribution restrictions. Treasury’s October 19 comment deadline has passed, but regulators have yet to finalize the Section 3 rules. Ripple CLO Stuart Alderoty has urged the U.S. Treasury to protect stablecoin users as regulators develop GENIUS Act rules.
Source: CoinCentral
