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Stablecoin rules and global fragmentation: what GENIUS Act means for cross-border payments
The GENIUS Act clarifies U.
With the GENIUS Act setting a U.S. standard for payment stablecoins - requiring transparent reserves, audits and strong custody - industry players see clearer compliance paths for domestic issuance. However, policy experts warn that divergent rules across jurisdictions could complicate cross-border use cases and interoperability.
Payments teams and global wallets will need to adapt technical rails and legal wrappers to satisfy varying onshore rules.
Central banks and standard-setting bodies are expected to accelerate talks on mutual recognition and supervisory cooperation.