"The U.S. Department of the Treasury issued a notice of proposed rulemaking on April 1, seeking public input on stablecoin regulation, advancing the implementation of the GENIUS Act."
"The NPRM outlines that states may regulate payment stablecoin issuers with total issuance below $10 billion if their frameworks align with federal requirements."
"The GENIUS Act establishes a comprehensive system for payment stablecoins, defining them as digital instruments designed for payments with fixed redemption expectations tied to monetary value."
The U.S. Treasury issued a notice of proposed rulemaking to align state and federal stablecoin regulations under the GENIUS Act. This NPRM is the first step in implementing the act, which aims to establish principles for assessing the comparability of state and federal regulatory frameworks. States can regulate payment stablecoin issuers with total issuance below $10 billion if their regulations align with federal standards. The framework differentiates between uniform requirements and areas where states can exercise discretion, ensuring consistency with federal obligations.
Read at news.bitcoin.com
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