logo

Senator Warren Urges Swift Implementation of the "GENIUS Act" and Highlights Stablecoin Regulatory Gaps

By: theblockbeats.news|2025/10/22 02:17:43

BlockBeats News, October 22: Senator Elizabeth Warren, Ranking Member of the Senate Banking Committee, wrote to Treasury Secretary Yellen urging the prompt implementation of the GENIUS Act and highlighting regulatory gaps. In the letter, Warren stated that the "U.S. Stablecoin Innovation GENIUS Act" represents a "light-touch regulatory framework for crypto banks," and the Treasury Department must take action to implement and enforce the law to minimize significant risks to U.S. financial stability, consumers, taxpayers, and national security. The GENIUS Act, signed into law by Trump in July, requires stablecoins to be fully backed by the U.S. dollar or similar liquid assets, mandates annual audits for issuers with a market cap over $500 billion, and establishes guidance for foreign issuers. Currently, major U.S. agencies are working to implement the law.


One of the Democrats' main concerns is around stablecoins, as Paxos recently accidentally minted $30 trillion worth of PYUSD stablecoins due to a technical issue. Warren commented on this, stating: "This incident demonstrates that operational failures can pose significant risks to issuers, market integrity, and financial stability. The Treasury Department needs to explain to the public how it intends to address these risks and, if unable to do so, clarify what authorizations it would need from Congress."

WEEX illumina la scena mondiale con una serie di eventi offline nel 2025
pump.fun Acquisisce il Trading Terminal Padre, il token PADRE non verrà più utilizzato sulla piattaforma

Potrebbe interessarti anche

Condividi
copy

Chi ha guadagnato

Ultime notizie crypto

13:35

Pavel Durov: Telegram lancerà Cocoon, una rete aperta di calcolo sicuro, a novembre

13:33

RIVER Public Sale Conto alla rovescia 1 ora: Abbonamento BNB Aperto entro 48 ore, rimborso al prezzo d'asta più basso Offerta

13:31

Anteprima delle decisioni della Fed: Dichiarazione politica Può vedere le modifiche alle seguenti sezioni

13:28

Anteprima riunione della Fed: La conferenza stampa potrebbe portare sorpresa a Hawkish

13:26

「100% Win Rate Whale」 Goes Long on SOL con la dimensione della posizione che supera i $100 milioni

Leggi di più
Community
icon
icon
icon
icon
icon
icon
icon
icon

Assistenza clienti@weikecs

Cooperazione aziendale@weikecs

Trading quantitativo e MMbd@weex.com

Servizi VIPsupport@weex.com