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Treasury Sends Congress Crypto Report Under GENIUS Act Mandate
The U.S. Department of the Treasury has submitted a 32-page report to Congress under the GENIUS Act. The report focuses on tools used to combat crypto-enabled illicit finance. It also describes new methods for tracking blockchain transactions. Lawmakers are now reviewing its findings and recommendations. The report arrives months after the GENIUS Act became law in July. That law set rules for the issuance and use of stablecoins in the United States. At the same time, Congress is weighing the Clarity Act, which would create a broader market structure for digital assets. The current debate shows that federal interest ... (full story)
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