US Treasury Issues GENIUS Act Rules for State Stablecoin Certification
- —State-qualified issuers with no more than $10 billion in outstanding tokens may opt for state regulation instead of federal oversight
- —A committee chaired by the Treasury Secretary and including the Fed Chair and FDIC Chairman reviews certifications
- —States must recertify annually or their approval is suspended
- —Initial certifications have a one-year deadline, with a two-year cure period for denials
Why it matters: The rule determines whether smaller stablecoin issuers can operate under state supervision rather than seeking a federal license.
Source: BlockchainReporter