NCA and Blockchain Association urge US Treasury to reconsider GENIUS Act rules – Details
Photo: AMBCrypto
On the 19th of October, the National Cryptocurrency Association (NCA) submitted recommendations to the U.S. Treasury on implementing the GENIUS Act. According to the letter, NCA's main concern is ensuring that ordinary Americans who already own stablecoins are not unfairly affected by changes in regulations. The NCA's proposed GENIUS Act rules For that, the NCA argues that stablecoin holders should not lose access to their funds when a stablecoin becomes ineligible for issuance. Here, it wants the U.S. Treasury to establish a transition period allowing existing holders to redeem, sell, or convert their stablecoins.
Source: AMBCrypto
