<p>The U.S. Stablecoin Certification Review Committee will determine whether the frameworks of various states are &#34;substantially similar&#34; to the federal stablecoin issuance system. The committee is led by the Secretary of the Treasury and includes the Chair of the Federal Reserve and the Chair of the Federal Deposit Insurance Corporation (FDIC). Consensus must be reached for state jurisdictions to obtain federal approval for stablecoin regulation. The &#34;GENIUS Act&#34; aims to simplify state-level regulation, and Gavin Meyers, a financial services regulatory partner at Pierson Ferdinand LLP, stated that the act is expected to reduce the chaotic situation of state regulation. (Bloomberg)</p>

CRCL

<p>U.S. banking regulators will begin addressing stablecoin regulatory rules in various states. The U.S. Stablecoin Certification Review Committee will assess the similarities between state frameworks and the federal stablecoin issuance system. The committee is composed of the Secretary of the Treasury, the Chair of the Federal Reserve, and the Chair of the FDIC, and must reach a consensus to obtain federal approval. The "GENIUS Act" aims to simplify state-level regulation and is expected to reduce regulatory confusion</p>

U.S. banking regulators will begin addressing stablecoin regulatory rules for each state