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Senators Urge Treasury to Preserve State Stablecoin Authority Under GENIUS Act

2026-06-19 14:37:42

A bipartisan group of senators led by Cynthia Lummis urged U.S. Treasury Secretary Scott Bessent to preserve state-level authority for certain stablecoin issuers under the GENIUS Stablecoin Act. The senators said Treasury's previously proposed rules did not clarify the timeline and standards for certifying state regulatory regimes.

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