According to Odaily, Circle's Chief Strategy Officer Dante Disparte discussed the GENIUS Act on the Unchained podcast, highlighting a lesser-known provision designed to prevent tech and Wall Street giants from dominating the stablecoin market. The act requires non-bank entities wishing to issue dollar-pegged tokens to establish independent entities similar to Circle, clearing antitrust barriers and subject to veto by the Treasury Committee. Disparte emphasized that lending institutions issuing stablecoins must store them in legally independent subsidiaries and include them on balance sheets that do not assume risk, offer leverage, or provide loans. This structure is considered more conservative than the deposit token model proposed by institutions like JPMorgan. Disparte noted that the act sets clear rules, ultimately benefiting U.S. consumers, market participants, and the dollar itself.