On May 15, a draft of the GENIUS Act was revealed by Eleanor Terrett with the following key points:
Issuers of stablecoins are prohibited from falsely claiming to be insured by the FDIC or using terms related to the U.S. government. This is to protect consumers from misunderstandings about the safety of stablecoins.
Regulations prohibit non-financial technology companies such as Meta and Google from issuing stablecoins. This ensures that only organizations with financial expertise can participate in cryptocurrency issuance.
Strengthening the separation between banks and businesses to avoid conflicts of interest and ensure the safety of the financial system.
Enhancing law enforcement capabilities regarding violations and expanding ethical oversight for certain government employees, including Elon Musk. This ensures that financial oversight is conducted more rigorously and transparently.
The content provided above is for market information only and is not investment advice.
Source: https://tintucbitcoin.com/du-luat-genius-cam-cong-ty-cong-nghe-phat-hanh-stablecoin/
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