Tag: Genius

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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...

Trump urges passage of U.S. Clarity Act, attacks banks for ‘undercutting’ GENIUS

U.S. President Donald Trump said bankers are trying to undermine the GENIUS Act — the signature stablecoin legislation he signed into law last year...

U.S. regulator’s GENIUS pitch puts dark cloud over crypto sector’s stablecoin model

The crypto industry's stablecoin operations, such as the arrangement between issuer Circle and leading exchange Coinbase, could be under serious pressure in the U.S....

OCC Lays Out Framework for Regulated Stablecoins Under GENIUS Act

In brief The OCC opened a 60-day comment period on draft rules implementing the GENIUS Act. The proposal prohibits anyone other than a “permitted payment stablecoin...

NCUA Suggests GENIUS Act Rules for Credit Union Stablecoin Issuers

The United States National Credit Union Administration (NCUA) has proposed its first rules under the Guiding and Establishing National Innovation for US Stablecoins (GENIUS)...

NY Prosecutors Raise Alarm over GENIUS Act on Fraud: Report

Several New York district attorneys have reportedly warned about the US federal stablecoin law, the GENIUS Act, claiming it fails to adequately address fraud.According...