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#GENIUSImplementationRulesDraftReleased
The U.S. Department of the Treasury has issued the first proposal for the (NPRM) regarding the regulation of stablecoins (Genius Act), indicating that the bill is entering a tangible implementation phase.
This proposal focuses on the regulatory pathway for "small stablecoin issuers," aiming to establish standards to assess whether state-level regulatory systems are "substantively equivalent" to the federal framework. According to the bill, institutions with issuance volumes below $1 billion can choose to accept state-level regulation, provided their regulatory systems meet federal standards#GateSquareAprilPostingChallenge