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Treasury Takes Initial Steps Towards GENIUS Act Rulemaking

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In July, Congress passed, and President Donald Trump signed, the Guiding and Establishing National Innovation for U.S. Stablecoins Act (the “GENIUS Act”). The GENIUS Act was a watershed moment in the history of cryptocurrency. It establishes a comprehensive federal regulatory scheme for a type of cryptoasset—specifically, stablecoins. It also broadly preempts state regulation in this area….
By: Mayer Brown

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