Circle submitted a letter of opinion on the implementation of the "GENIUS Act"

Circle submitted a letter of comments to the U.S. Department of the Treasury regarding the implementation of the GENIUS Act, emphasizing recommendations for a comprehensive regulatory framework for stablecoins to ensure consumer protection, fair market competition, and global interoperability.

Circle believes that rulemaking should reinforce Congress's intent by providing clear and robust rules for all issuers engaging with the U.S. market, while offering the American people transparent and easily understandable financial products and services. Circle proposed a series of policy principles, including protecting customer funds, achieving interoperability through mutual recognition, ensuring the same rules apply to the same activities, maintaining competitive balance domestically and internationally, and establishing clear consequences and contingency plans.