As per 528btc, the Stablecoin Standards Authority (SSA) has submitted a multi-agency petition to key U.S. financial regulators, including the Treasury and the Federal Reserve, urging coordinated action to implement the GENIUS Act. The petition calls for consistent, risk-based regulation of U.S.-linked dollar-pegged stablecoins, with a focus on large offshore arrangements like USDT and settlement layer anonymity. It also requests cross-border reviews of USDT issuers and the establishment of KYC registration for on-chain nodes to ensure the credibility and competitiveness of the new stablecoin framework.
SSA Urges U.S. Regulators to Coordinate GENIUS Act Implementation and Address USDT Risks
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