Circle Submits Comment Letter on U.S. Treasury Department's Implementation of the GENIUS Act

Techub News reported that Circle submitted a comment letter regarding the U.S. Department of the Treasury's implementation of the "GENIUS Act," emphasizing recommendations for a comprehensive regulatory framework for stablecoins to ensure consumer protection, fair market competition, and global interoperability. Circle believes that rulemaking should reinforce Congress's intent to establish clear and robust rules that support full compliance for all issuers entering the U.S. market, while providing transparent and easily understandable financial products and services to the American public. Circle proposed a series of policy principles, including safeguarding customer funds, achieving interoperability through reciprocity, applying the same rules to the same activities, maintaining a balance between domestic and international competition, setting clear consequences, and developing contingency plans.