Back to Congress passes GENIUS Act creating first federal stablecoin framework
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Under the GENIUS Act, the SEC retains primary oversight of payment stablecoins.
Explanation
The Act removes SEC and CFTC jurisdiction over payment stablecoins, assigning oversight to the Fed, FDIC and OCC instead.
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Related Questions
The GENIUS Act requires stablecoin issuers to publicly disclose their reserve holdings.
Easytrue falseBanks have warned that under the GENIUS Act, ______ could migrate to uninsured crypto reserves.
Easymultiple choiceWhich is NOT an aim of the GENIUS Act?
Easymultiple choice
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