The GENIUS Act turns 1: State of Crypto

The GENIUS Act, signed into law a year ago, is still in the process of being implemented, with federal regulators working on crafting rules for stablecoin issuers. Agencies such as the Office of the Comptroller of the Currency and the Federal Depository Insurance Corporation have proposed rules, including requirements for know-your-customer checks and custody standards. The industry is also awaiting the passage of the Digital Asset Market Clarity Act, which has been delayed due to disagreements over an ethics provision.