The United States officially launches the GENIUS Act implementation work, with a maximum issuance of $10 billion and the option for issuers to choose state-level regulation.

BlockBeats News, April 2nd — The U.S. Treasury Department officially launched the stablecoin innovation "

" implementation work, issued a proposed rulemaking notice as the first implementing regulation of the Act, totaling 87 pages, with a 60-day public comment period.

Under the "

," stablecoin issuers with a total circulation not exceeding $10 billion can choose to accept a state-level regulatory regime, provided that the state regulatory framework is "substantially similar" to the federal regulatory framework. The U.S. Treasury Department will establish broad principles to determine the "substantial similarity" through this notice.