The U.S. Blockchain Association supports the Treasury's overall direction on stablecoin regulation, calling for clear definitions of service providers and requirements for foreign issuers.

BlockBeats news, October 20: The Blockchain Association has submitted comments on the U.S. Treasury Department's proposed rules implementing Section 3 of the GENIUS Act. This section specifies which entities may issue and sell payment stablecoins in the United States. The association supports the Treasury's core regulatory approach but calls for further clarification of the definition of digital asset service providers, the criteria for determining "knowing participation," and the relevant requirements for foreign issuers.