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GENIUS Act Proposed Rules, World Liberty OCC Approval & Bitcoin Short Squeeze
Audio is available on Spreaker — see link below.
The U.S. Treasury has opened a 60-day comment window on landmark stablecoin rules under the GENIUS Act, while the OCC grants conditional approval to the Trump-backed World Liberty Financial bank — and Bitcoin's 3% rally turns out to be a short squeeze, not fresh demand. Everything crypto investors need to know from the past 24 hours, analysed without the hype.
Audio is available on Spreaker — see link below.
The U.S. Treasury has just issued its formal proposed rules under the GENIUS Act, opening a sixty-day public comment window that puts the stablecoin industry on a countdown to the most consequential federal framework it has ever faced. This isn't preliminary guidance.
The same day this proposal landed, the Office of the Comptroller of the Currency granted conditional approval to World Liberty Financial for a national trust bank charter. World Liberty is the Trump-backed entity behind the USD1 stablecoin.
The key unresolved piece in Treasury's proposal is foreign issuer treatment. Tether holds roughly sixty percent of the total stablecoin market with about one hundred eighty-four billion dollars in circulating USDT supply.
On the market side, Bitcoin rallied three percent Monday to sixty-four thousand five hundred dollars, driven by six hundred thirty-seven bitcoin in short liquidations. That's the largest single-day liquidation total since July twenty-first.
Two more developments worth tracking. The European Union's transaction ban on fourteen named crypto-asset service providers takes effect August twenty-third.
The two real watchpoints from here are the Treasury comment window and the World Liberty charter. How major issuers respond to those eighty-seven questions will shape the final rules.
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