Circle Pushes Treasury for Clear Rules on US Dollar Stablecoins

Michaela — Fri, 07 Nov 2025 09:54:01 +0000

Stablecoin issuer Circle has expressed support for the full implementation of the GENIUS framework, calling for a unified national approach to regulate both domestic and foreign payment stablecoin issuers. In comments submitted to the U.S. Treasury Department, the company emphasized the importance of clear, consistent oversight to protect consumers and strengthen confidence in the digital payments ecosystem.

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Circle urged the U.S. Treasury to implement the GENIUS framework with clear, consistent rules for all stablecoin issuers, domestic, foreign, bank, and nonbank alike.
The company emphasized that stablecoins should be fully backed by cash and high-quality liquid assets, with strict enforcement and penalties for noncompliance.
Circle framed the GENIUS Act as a chance to build a unified, transparent, and innovation-friendly federal digital payments system that reinforces U.S. leadership in digital finance.

Circle submitted comments to the Treasury on November 4 in response to its Advance Notice of Proposed Rulemaking on implementing the GENIUS Act. “We welcome the opportunity to help Treasury operationalize a statute that does more than set guardrails for payment stablecoins—it lays groundwork for a federal digital payments framework in the United States,” Circle wrote in a blog post discussing their recommendations.

The company reaffirmed several key principles championed by supporters of the GENIUS Act, including the requirement that stablecoins be fully backed by cash and high-quality liquid assets. At the same time, Circle urged regulators to establish clear enforcement standards and consistent penalties for noncompliance, emphasizing that banks, nonbanks, and both domestic and foreign issuers should operate under uniform rules to ensure consumer protection and prevent regulatory loopholes.

“GENIUS implementation is an opportunity to unify standards, raise transparency, and de-risk core payment functions without constraining innovation,” Circle wrote. “By setting clear definitions, risk-sensitive prudential requirements, predictable enforcement, and a reciprocal path for compliant foreign issuers, Treasury can promote a safer, more competitive market that channels demand toward transparent, fully reserved, compliance-anchored products—reinforcing U.S. leadership in digital finance,” the firm added.

Circle’s recommendations were submitted as part of the second round of public consultations on the GENIUS Act, following its signing into law by President Donald Trump in July.

As regulators continue shaping the GENIUS Act’s framework, Circle’s response reflects a broader industry push for clarity, accountability, and uniform oversight in the fast-evolving stablecoin sector. The company’s stance spotlights the growing convergence between traditional financial safeguards and digital asset innovation, as policymakers seek to balance innovation with systemic stability.

Whether these measures ultimately strengthen consumer trust and foster responsible growth in the U.S. stablecoin market will depend on how effectively the forthcoming rules are enforced and how aligned private issuers remain with national financial priorities.

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Michaela has no crypto positions and does not hold any crypto assets. This article is provided for informational purposes only and should not be construed as financial advice. The Shib Magazine and The Shib Daily are the official media and publications of the Shiba Inu cryptocurrency project. Readers are encouraged to conduct their own research and consult with a qualified financial adviser before making any investment decisions.

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The Shib News Recap: Thursday

Malaya Ruiz — Thu, 12 Dec 2024 23:00:00 +0000

The top headlines this Thursday from The Shib Daily are marked by increasing regulatory scrutiny in financial markets and the growing adoption of stablecoins. Furthermore, financial actions by politically connected figures also spark intrigue—but not as much as the newest controversy surrounding AI, which you’ll find out more about below.

SEC Commissioner Crenshaw’s Renomination Vote Stalled

The vote to renominate SEC Commissioner Caroline Crenshaw has been delayed because of a procedural conflict. The change in schedule overlaps with a Senate rule. Senator Brown is tasked with rescheduling the vote, but a timeline is yet to be announced. Crenshaw, facing controversy in the crypto community, must pass both committee and Senate votes within the next seven days.

Binance and Circle Unite to Drive Global USDC Adoption

Binance and Circle have teamed up to boost USDC adoption and support the growth of digital assets worldwide. Circle will assist Binance with technology and liquidity solutions to enhance USDC usage. This partnership will facilitate the broader integration of USDC into Binance’s offerings. The CEOs of both companies express optimism about their collaboration’s potential.

World Liberty Financial Purchases $12M Worth of ETH, LINK, and AAVE

World Liberty Financial (WLFI) has acquired Ethereum (ETH), Chainlink (LINK), and Aave (AAVE) using USD Coin (USDC). On December 12, WLFI processed $12 million in transactions, leading to a 6.86% surge in Ethereum’s price. Their Ethereum holdings now exceed 14,500 ETH, valued at over $56 million.

‘Deus in Machina’: The Controversial AI Jesus Draws Criticism

A project featuring an AI version of Jesus has sparked debate among some critics. Named “Deus in Machina,” it started in August at St. Peter’s Chapel in Lucerne, Switzerland. Created by Philipp Haslbauer and Marco Schmid, the project used OpenAI’s GPT-4o and an AI video generator. The avatar answered questions about faith and morality; it also referenced Scripture. Bishop James Long, Presiding Bishop of the United States Old Catholic Church, voiced his criticism, calling it “not sacramental” and “truly just sacrilege.”

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