The American Blockchain Association submits opinions on the implementation rules of the GENIUS Act, calling for clear boundaries of responsibility

The American Blockchain Association has submitted its opinion on the implementation rules of Article 3 of the GENIUS Act proposed by the US Treasury Department. The association suggests clarifying the scope of digital asset service providers, excluding self hosted software, validators, and enterprises that only trade their own assets; The criminal responsibility for participating in the illegal issuance of stablecoins should be based on actual knowledge and coordination with the issuer to provide substantial assistance. The association suggests that trading platforms assess the compliance of overseas stablecoins based on the official list of issuers and trading bans, and adjust the criteria for determining the location of users in unlicensed agreements.