Odaily Planet Daily News Circle Chief Strategy Officer Dante Disparte stated in the Unchained podcast that the (GENIUS Act) contains a little-known provision aimed at preventing tech giants and Wall Street firms from dominating the stablecoin market. Any non-bank institution wishing to issue tokens pegged to the dollar must establish 'an independent entity more like Circle than a bank,' clear antitrust hurdles, and accept a veto from the Treasury Committee. Disparte pointed out that lending institutions issuing stablecoins must keep them in a legally independent subsidiary and include these stablecoins in a balance sheet that 'takes no risks, offers no leverage, and provides no loans.' This structure is even 'more conservative' than the deposit token models proposed by JPMorgan and other institutions. He added, 'It sets clear rules, and I believe the biggest winners in the end are American consumers and market participants, and frankly, the dollar itself.' (Cointelegraph)