ABA cautions against allowing state regulation that could expand stablecoin issuer activities
As it seeks to implement the Genius Act, the Treasury Department should not allow states to greatly expand the scope of services offered by payment stablecoin issuers beyond what is spelled out in the law, ABA said. The post ABA cautions against allowing state regulation that…
As it seeks to implement the Genius Act, the Treasury Department should not allow states to greatly expand the scope of services offered by payment stablecoin issuers beyond what is spelled out in the law, ABA said. The post ABA cautions against allowing state regulation that…
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Why it matters
The ABA's caution against state-level expansion of stablecoin issuer activities signals a significant regulatory debate with potential implications for the stablecoin market's regulatory framework and credit-market participants' risk assessment, though it stops short of a formal regulatory change.
Sources
ABA Banking Journal
ABA cautions against allowing state regulation that could expand stablecoin issuer activities
As it seeks to implement the Genius Act, the Treasury Department should not allow states to greatly expand the scope of services offered by payment stablecoin issuers beyond what is spelled out in the law, ABA said. The post ABA cautions against allowing state regulation that…