Weekly Crypto Regulation News Roundup: GENIUS Act Targets Big Tech, SEC ETF Reversal
U.S. regulators accelerated their oversight of digital assets this week, with Congress and federal agencies reshaping the landscape. The GENIUS Act's 'Libra clause' emerged as a pivotal measure, mandating standalone entities for non-bank stablecoin issuers and imposing antitrust reviews. Meanwhile, the SEC's abrupt ETF reversal underscored the volatility of crypto policy.
The Treasury-led oversight committee now holds veto power over stablecoin projects, a direct response to Meta's abandoned currency ambitions. Banks face parallel restrictions, signaling a broader push to prevent concentration of power in digital finance.