John Thune: “Stablecoin issuers would be held to the same standards as…”

“And the bill's enforcement provisions would provide companies with clarity on what the rules are and ensure accountability for any violations. The GENIUS act would also protect against national security threats and money laundering. Stablecoin issuers would be held to the same standards as other financial institutions subject to the Bank Secrecy Act. They would need to monitor and report suspicious activity. They would have to comply with U.S. sanctions, and they would have to block transactions that violate state and federal laws.” (02:33–02:41)

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