Circle's Submission Letter on the Implementation of the "GENIUS Act"

BlockBeats News, November 6th, Circle submitted a comment letter to the U.S. Treasury Department on the implementation of the "GENIUS Act," emphasizing the recommendation for a comprehensive regulatory framework for stablecoins to ensure consumer protection, market integrity, and global interoperability. Circle believes that rulemaking should reinforce congressional intent, providing clear and robust rules for all issuers touching the U.S. market while offering the American people transparent and easily understandable financial products and services. Circle has put forward a series of policy principles, including safeguarding customer funds, achieving interoperability through mutual recognition, ensuring consistent rules for the same activities, maintaining a balance of competition domestically and internationally, establishing clear consequences and contingency plans, etc.