SDG 9: Industry, Innovation and Infrastructure | SDG 16: Peace, Justice and Strong Institutions
Institutions: Ministry of Finance
The U.S. Department of the Treasury has issued an Advance Notice of Proposed Rulemaking (ANPRM) asking for public input on how to implement the GENIUS Act, which regulates payment stablecoins. The Act aims to foster innovation in stablecoin payments while safeguarding consumers, addressing financial stability risks, and mitigating illicit finance threats. This notice does not yet impose new requirements but invites stakeholders to submit data and commentary. Responses are open for 30 days following publication in the Federal Register.
Relevant question for policy stakeholders: Should India consider adopting a similar regulatory consultation process for digital assets, and what balance should be struck between innovation, financial stability, and prevention of misuse in the stablecoin ecosystem?
Follow the full news here:
https://home.treasury.gov/news/press-releases/sb0254