Circle Advocates Uniform Stablecoin Regulation Under GENIUS Act
Circle has submitted a detailed comment letter to the U.S. Treasury, urging a 'same activity, same rules' approach for stablecoin regulation under the proposed GENIUS Act. The framework calls for payment stablecoins to be fully backed by cash and high-quality liquid assets, with clear reserve and redemption standards to protect consumers.
The proposal emphasizes a level playing field for both bank and nonbank issuers, advocating for monthly independent audits and plain-language disclosures. Circle's recommendations aim to create a unified national framework that accommodates both U.S. and qualifying foreign issuers while maintaining robust consumer protections.
This legislative moment could redefine the future of digital dollars in America, with Circle positioning itself as a key voice in shaping prudential standards for the stablecoin market.
