Circle advocates for uniform regulation of stablecoins under the GENIUS Act, emphasizing the principle of “same activity, same rules.” The company’s proposal focuses on robust standards for reserves, redemption, and disclosure to protect consumers and ensure market integrity. It calls for consistent oversight of both U.S. and foreign issuers.
- Full backing with cash and high-quality liquid assets, separate from company funds.
- Independent monthly verification of reserves with public reports.
- Reciprocal recognition for foreign regimes adhering to GENIUS standards.
## ПРАКТИЧЕСКИЕ ВЫВОДЫ
- Circle recommends treating stablecoins as cash equivalents for accounting/tax purposes.
- The proposal aims to create a level playing field for all issuers.
- Focus on strong consumer protection and preventing regulatory loopholes.
