Bipartisan senators push Treasury to uphold states’ authorities under the GENIUS Act
The Block·
60-second summary
Bipartisan senators are pushing the Treasury Department to uphold states' authorities under the GENIUS Act, which aims to preserve states' ability to regulate stablecoins. This move comes as stablecoins continue to gain traction, with over $150 billion in circulation. The senators' push could impact the regulatory landscape for stablecoins, potentially influencing their adoption and market growth.
A group of bipartisan senators pressed the Treasury Department to preserve states' ability to regulate stablecoins.