The Stablecoin Standards Authority (SSA) has petitioned U.S. financial regulators, including the Treasury and the Federal Reserve, to coordinate the implementation of the GENIUS Act. The SSA emphasizes the need for consistent, risk-based regulation of dollar-pegged stablecoins, particularly focusing on large offshore entities like USDT. The petition highlights the importance of addressing settlement layer anonymity and calls for cross-border reviews of USDT issuers. Additionally, it advocates for the establishment of KYC registration for on-chain nodes to enhance the credibility and competitiveness of the stablecoin framework.
SSA Calls for Coordinated U.S. Action on GENIUS Act and USDT Risks
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