Those provisions could align well with U.S.-based stablecoins, such as Circle’s USDC and Ripple’s RLUSD, which are domiciled in the U.S. and claim to already comply with many of the bill's requirements.

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Senate Banking Committee to Vote on Bipartisan 'Genius' Stablecoin Bill This Week

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The GENIUS Act would be well-suited for U.S.-based stablecoin issuers like Circle’s USDC and Ripple’s RLUSD, which already claim compliance with many of its provisions, potentially giving them a competitive advantage under the new regulatory framework

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The GENIUS Act would be well-suited for U.S.-based stablecoin issuers like Circle’s USDC and Ripple’s RLUSD, which already claim compliance with many of its provisions, potentially giving them a competitive advantage under the new regulatory framework