Coinbase Urges Treasury to Align GENIUS Act Regulations with Congressional Intent

Crypto exchange Coinbase has urged the U.S. Department of the Treasury to ensure the new regulations implementing the Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS) Act align closely with Congress’s original intention. The company fears that adding unnecessary requirements could hinder the development and adoption of stablecoins in the US, potentially impacting the country’s global leadership in digital assets.