Circle submits comments on the implementation of the GENIUS Act

Jinse Finance reported that Circle has submitted a comment letter to the U.S. Treasury regarding the implementation of the GENIUS Act, emphasizing recommendations for a comprehensive regulatory framework for stablecoins to ensure consumer protection, market fairness, and global interoperability. Circle believes that rulemaking should reinforce Congressional intent, provide clear and robust rules for all issuers accessing the U.S. market, and offer American people transparent and easy-to-understand financial products and services. Circle proposed a series of policy principles, including protecting customer funds, achieving interoperability through mutual recognition, ensuring the same rules for the same activities, maintaining competitive balance domestically and internationally, setting clear consequences, and establishing "emergency" plans.