Cryptocurrency firm Circle has urged the U.S. Treasury Department to establish clear and uniform regulations for payment stablecoins under the newly enacted Guiding and Establishing National Innovation for U.S. Stablecoins Act (GENIUS Act). The company submitted a detailed letter outlining its recommendations on how the law should be implemented, aiming to protect consumers while fostering innovation in the digital currency space. Circle argues that the GENIUS Act marks a crucial step towards regulating stablecoins at the federal level. This follows years of fragmented oversight across U.S. states and agencies, creating a need for a single national regime for payment stablecoins. The company emphasizes the importance of strong consumer protections with fully backed stablecoins, separate custody, redemption at par value, and independent audits. Additionally, Circle advocates for global interoperability by recognizing foreign issuers meeting GENIUS standards, promoting competition without regulatory loopholes. This submission comes alongside similar calls from other industry stakeholders like Coinbase, emphasizing the need for consistent rules while mitigating potential risks to consumers and market stability.