Coin Center Urges Treasury to Narrow GENIUS Act Stablecoin Rules
- —Coin Center wants Section 1523.2(d)(2) to require an agreement with the issuer for "coordination"
- —Validating transactions and running nodes alone should not count as participating in issuance
- —Liability should require an issuer-specific link and purposeful material assistance
- —Treasury's proposed list of participation activities is described as non-exhaustive
Why it matters: Treasury's reading will determine whether validators and market makers can face criminal liability for an unlawful stablecoin issuance.
Source: Coin Center