US Treasury Starts to Implement GENIUS Act & Seeks Feedback – Best Crypto to Buy
The US Treasury Department is putting the GENIUS Act into action with a 60-day comment period to gather ideas on detecting illicit crypto activity. By establishing a stablecoin framework and seeking input, the Treasury is working to shape the Web3 sector. Under Trump, their ultimate ambition is to bolster crypto innovation safely. Such regulatory clarity […]
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The US Treasury Department has launched a request for public comments aimed at combating illicit activities associated with dollar-pegged cryptocurrencies, stablecoins. This initiative follows the recent passage of the GENIUS Act, a comprehensive piece of legislation designed to provide a regulatory framework for the stablecoin market issuers such as Tether (USDT) and Circle (USDC) in […]
The Senate revived the GENIUS bill on Monday, after a procedural vote put the bill on track to receive the green light. Altcoins like Best Wallet Token could catch steam as a result. GENIUS was initially rejected by the democrats two weeks ago due to concerns relating to Donald Trump’s ‘crypto dealings.’ Dem Senator, Elisabeth […]
The U.S. Department of the Treasury says that the growing use of crypto assets challenges the efficacy of American sanctions. “We are mindful of the risk that, if left unchecked, these digital assets and payments systems could harm the efficacy of our sanctions,” the Treasury Department explained. Treasury Says Crypto Threatens Efficacy of U.S. Sanctions The U.S. Department of the Treasury released its 2021 Sanctions Review Monday. “Technological innovations such as digital currencies, alternative payment platforms, and new ways of hiding cross-border transactions all....
The U.K. government is focusing on stablecoins for the next phase of its development of crypto regulations.
Over the past week, the cryptocurrency sector achieved a major milestone after the United States Senate passed the GENIUS Act. This landmark bill establishes the first federal standards for stablecoins, marking a significant victory for the digital asset sector and possibly the Bitcoin market. In response to this significant breakthrough, US Secretary of the Treasury […]