TechFlow, November 4 — According to Circle, the company has submitted comments to the U.S. Department of the Treasury regarding the implementation of the GENIUS Act, aiming to establish a uniform and prudent regulatory framework for dollar-denominated payment stablecoins.
In its submission, Circle supports the comprehensive implementation of the GENIUS Act to create a consistent national regulatory regime covering authorized payment stablecoin issuers, regulated foreign payment stablecoin issuers, and consumers. The company proposed five core policy principles: protecting customer funds through simple and robust rules; achieving interoperability through reciprocity; applying the same rules to the same activities to eliminate loopholes; maintaining a level playing field for domestic and foreign entities; and establishing clear consequences with mandatory "contingency" plans.
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