Multiple Senators Write to Treasury Department Seeking Clarification on State-Level Stablecoin Regulatory Certification Process Under the GENIUS Act

TechFlow News, June 17: According to CoinDesk, a bipartisan group of U.S. Senators led by Republican Senator Cynthia Lummis sent a letter to Treasury Secretary Scott Bessent, criticizing the Treasury Department’s previously released stablecoin regulatory principles for failing to specify timelines and procedural requirements for state-level certification—leaving states uncertain about how to proceed. The letter urges the Treasury Department to issue written procedural guidance clarifying the application, review, and certification processes under state regulatory frameworks, while preserving sufficient flexibility to accommodate varying legislative timelines across states.