According to BlockBeats, the U.S. Stablecoin Certification Review Committee is set to evaluate whether state frameworks align substantially with the federal stablecoin issuance system. Led by the Treasury Secretary, the committee includes the Federal Reserve Chair and the Federal Deposit Insurance Corporation (FDIC) Chair. A consensus among these members is required for states to receive federal approval for stablecoin regulation.
The "GENIUS Act" aims to streamline state-level regulation. Gavin Meyers, a financial services regulatory partner at Pierson Ferdinand LLP, suggests that the act could reduce regulatory confusion across states.