U.S. senators urge Treasury not to leave states out of GENIUS Act stablecoin process
CoinDesk·
60-second summary
US senators, led by Republican Cynthia Lummis, are urging the Treasury Department to include states in the GENIUS Act's stablecoin oversight process. They are pushing for a mechanism to verify states' ability to supervise stablecoins, emphasizing the need for a comprehensive approach that addresses regulatory gaps. This move aims to ensure consistent national standards for stablecoin regulation.
Senators led by Republican Cynthia Lummis are insisting the Treasury Department ensure states get a process to prove their ability to supervise stablecoins.