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a16z Submits Comments on GENIUS Act to U.S. Treasury on June 3

Regulation & Policy

2026-06-03 01:28:03

According to PANews, a16z submitted comments on the GENIUS Act to the U.S. Department of Treasury on June 3. The firm, represented by crypto policy director Miles Jennings, called for state-level regulations to align with GENIUS to ensure stablecoin interoperability. According to a16z, stablecoins issued across different states must maintain equal value, and divergent state frameworks would fragment the payment network. The firm also urged states not to reinterpret key terms such as "payment stablecoin" and "digital asset service provider," and recommended that issuers already licensed in one state should not face additional requirements from other states.

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