Wu Blockchain (@WuBlockchain): The revised GENIUS Act (S. 1582) in the U.S. Senate expands regulatory jurisdiction over foreign stablecoin issuers, requiring those serving U.S. user…
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The revised GENIUS Act (S. 1582) in the U.S. Senate expands regulatory jurisdiction over foreign stablecoin issuers, requiring those serving U.S. users, such as Tether, to comply with the legislation. It also broadens the definition of digital asset service providers to include developers, validator nodes, and self-custodial wallet providers, mandating compliance with the Bank Secrecy Act and anti-money laundering regulations. https://t.co/HxTolNDWpc