The Treasury proposal would establish some of the core definitions and jurisdictions in the law Congress completed last year. The first major proposal to implement the GENIUS Act has emerged from the Treasury Department, marking a significant milestone in the process to put U.S. stablecoin regulations in place. The administration — including banking and markets regulators — are well past the one-year deadline set out in the law, which expired last month, but the regulators are making steady pro…
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