State regulators object to Treasury imposing OCC stablecoin rules on states
The Conference of State Bank Supervisors (CSBS) has provided comments to the US Treasury on its proposed rulemaking for state issued stablecoins under the GENIUS Act.
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In comments on Treasury's April GENIUS Act rulemaking, CSBS argued the statute 'does not direct states to follow or defer to the OCC,' resisting federal standards being written into state stablecoin regimes.
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