The US Treasury Department has officially implemented the Stablecoin <GENIUS Act>, and issuers with less than $10 billion in circulation can opt for state-level regulation

BlockBeats News, April 2, the U.S. Treasury Department officially launched the stablecoin innovation "GENIUS Act" implementation work, issued a proposed rulemaking notice as the first implementing regulation of the Act, totaling 87 pages, with a 60-day public comment period.

Under the "GENIUS Act," stablecoin issuers with a total circulation not exceeding $10 billion may choose to accept state-level regulatory regimes, provided that the state regulatory framework is "substantially similar" to the federal regulatory framework. The U.S. Treasury Department will establish general principles to determine "substantial similarity" through this notice.