The U.S. Treasury is asking on the general public to supply suggestions required by the GENIUS Act on how the federal government may assist stop “illicit finance dangers” tied to digital property, per a Monday press launch from the federal government division.
U.S. Treasury Places The GENIUS Act In Motion
In line with the August 18 discover, the U.S. Treasury is looking for remark from members of the general public at massive on how monetary establishments can push again on illegal crypto use.
In the present day, Treasury issued a Request for Remark required by the GENIUS Act, which furthers the Administration’s coverage of supporting the accountable progress and use of digital property, as outlined in President Trump’s Government Order on “Strengthening American Management in Digital…
— Treasury Division (@USTreasury) August 18, 2025
“This request for remark gives the chance for people and organizations to supply suggestions on modern or novel strategies, methods, or methods that regulated monetary establishments use, or may probably use, to detect illicit exercise involving digital property,” the U.S. Treasury states.
“As required by the GENIUS Act, Treasury will use public feedback to tell analysis on the effectiveness, prices, privateness and cybersecurity dangers, and different concerns associated to those instruments,” the press launch continues.
Scott Bessent Shares His Take In New Assertion
Following information of the request for remark, U.S. Treasury Secretary Scott Bessent praised implementing the GENIUS Act as “important” to “securing American management in digital property.”
Implementing the GENIUS Act is important to securing American management in digital property.
Stablecoins will broaden greenback entry for billions throughout the globe and result in a surge in demand for U.S. Treasuries, which again stablecoins.
It’s a win-win-win for everybody concerned:… https://t.co/p5nRQpBfnw— Treasury Secretary Scott Bessent (@SecScottBessent) August 18, 2025
“Stablecoins will broaden greenback entry for billions throughout the globe and result in a surge in demand for U.S. Treasuries, which again stablecoins,” Bessent stated.
“It’s a win-win-win for everybody concerned: stablecoin customers, stablecoin issuers, and the U.S. Treasury Division,” he added.
U.S. President Donald Trump signed the crypto laws into legislation final month, a lot to the appeasement of key gamers within the blockchain sector.
“Let me say, your entire crypto group, for years you had been mocked and dismissed and counted out,” the president continued. “You had been counted out as little as a yr and a half in the past—however this signing is an enormous validation.”
The transfer reinforces that the GENIUS Act isn’t simply symbolic — it’s now changing into the framework for America’s digital asset technique.
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