Tag: Genius

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Banks seek to slow down implementation of crypto’s GENIUS Act on stablecoin oversight

The crypto industry is frequently finding bankers involved in its top-priority regulatory efforts, and this time, a coalition of bank trade associations has asked...

US Treasury Moves Forward with GENIUS Act, Focusing on Illicit Finance

Payment stablecoin issuers in the United States will be required to implement a regime targeting illicit finance under the proposed framework for the GENIUS...

US Treasury Rolls Out Draft Rule To Implement GENIUS Act Compliance Program

Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure The US Treasury on Wednesday released a joint proposed rule from the...

FDIC Proposes Rules For Stablecoin Issuers under GENIUS Act

The US Federal Deposit Insurance Corporation (FDIC) has proposed new rules to regulate FDIC-supervised stablecoin issuers in accordance with the Guiding and Establishing National...

FDIC Advances Stablecoin Oversight Framework Under GENIUS Act With New Prudential Rule Proposal

The Federal Deposit Insurance Corporation (FDIC) has advanced a new regulatory framework that begins to define how U.S. banks and their subsidiaries...

Fed’s Barr Calls for Balanced US Stablecoin Rules Under GENIUS Act

US Federal Reserve Governor Michael Barr said Tuesday that clearer US stablecoin rules could speed the market’s growth, but warned that regulators still need...

Genius Group Dumps Bitcoin Treasury Amid Revenue Surge

AI-powered Bitcoin treasury and education company Genius Group revealed on Tuesday that it sold the remainder of its Bitcoin in Q1 to pay off...

U.S. Treasury Launches First GENIUS Act Rulemaking Proposal

The U.S. Department of the Treasury has formally begun implementing the Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS) Act, releasing...

Genius Group (GNS) Dumps All Bitcoin Holdings To Clear Debt

Genius Group sold its entire Bitcoin reserves to repay $8.5 million in debt, the company said today. The firm entered a Bitcoin first strategy...

FDIC Chair Says no Deposit Insurance for Stablecoins under GENIUS Act

Travis Hill, chair of the US Federal Deposit Insurance Corporation (FDIC), confirmed that, in his opinion, a law passed in July would not give...

Stablecoins won’t get any kind of deposit insurance under GENIUS rules, says FDIC chief

Stablecoin users won't benefit from any government guarantee of their money when the new U.S. law is implemented to govern these tokens, said Federal...

Treasury’s GENIUS Act Report Backs Mixers, But Wants a New ‘Hold Law’ For Crypto

Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure Treasury sent Congress its GENIUS‑Act‑mandated report on “innovative tools” to fight crypto‑enabled...