Circle Advocates for Clear Stablecoin Regulations Under GENIUS Act
Circle, the issuer of USDC, has called on the U.S. Treasury to establish uniform regulatory standards for payment stablecoins under the newly enacted GENIUS Act. The company's recommendations, submitted in a November 4 letter, emphasize consumer protection through full backing, segregated custody, and public audits.
The GENIUS Act marks the first comprehensive federal framework for stablecoin regulation in the U.S. Circle's proposal aligns with the legislation's "same activity, same rules" principle, advocating for global interoperability and recognition of compliant foreign issuers.
This regulatory clarity comes as stablecoins increasingly bridge traditional finance and digital asset ecosystems. The Treasury's implementation of the GENIUS Act could set a precedent for other jurisdictions grappling with stablecoin oversight.
