US Treasury proposes 'orderly' stablecoin redemption under GENIUS Act, diverging from MiCA
- —GENIUS Act: 'orderly' redemption instead of instant par-value, with 87 questions in the draft
- —MiCA requires 30-60% reserves in EEA bank deposits; GENIUS Act requires Treasuries up to 93 days
- —GENIUS Act licensing starts January 18, 2027; ban on unapproved tokens until mid-2028
- —US deadline for final rules expired July 18, 2026, without result
Why it matters: Different redemption and reserve rules create two separate liquidity pools for USDC and USDT, which could lengthen redemption times during stress.
Source: Coincierge