Crypto Industry Group Asks Treasury To Clarify GENIUS Act Rules For DeFi
Summary
The Blockchain Association has asked the US Treasury to clarify proposed GENIUS Act stablecoin rules. It wants self-custody software and validators distinguished from customer-facing financial businesses, liability for unlawful issuance to require knowing and meaningful assistance, and foreign-issuer compliance standards based on information service providers can access. These are industry recommendations, not rules Treasury has adopted. The final regulations will determine how broadly compliance obligations extend beyond stablecoin issuers.
