Senators Urge Treasury Ensure State Authority in GENIUS…
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Senators Urge Treasury Ensure State Authority in GENIUS Rules
**> Except from article.**
A bipartisan group of US senators led by Republican Senator Cynthia Lummis has urged the Treasury to ensure that state authorities are given the ability to regulate **stablecoin issuers** as the department considers how to implement the GENIUS Act.
In a letter to Treasury Secretary Scott Bessent on Tuesday, the lawmakers said it was critical that the Treasury implement a section of the law giving a pathway for certain issuers to be regulated by the states “**in a manner that preserves and promotes State participation**.”
#cryptocurrency
**> Except from article.**
A bipartisan group of US senators led by Republican Senator Cynthia Lummis has urged the Treasury to ensure that state authorities are given the ability to regulate **stablecoin issuers** as the department considers how to implement the GENIUS Act.
In a letter to Treasury Secretary Scott Bessent on Tuesday, the lawmakers said it was critical that the Treasury implement a section of the law giving a pathway for certain issuers to be regulated by the states “**in a manner that preserves and promotes State participation**.”
#cryptocurrency
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