The U.S. Blockchain Association submitted comments on the implementation rules of the GENIUS Act, calling for clarification of the boundaries of responsibility in stablecoin operations.

PANews October 20 news: The U.S. Blockchain Association stated that it has submitted comments on the proposed implementation rules for Section 3 of the GENIUS Act by the U.S. Department of the Treasury. The association recommends clarifying the scope of "digital asset service providers" to exclude self-hosted software, infrastructure such as validators, and enterprises that only trade their own assets; for criminal liability involving participation in the illegal issuance of stablecoins, actual knowledge and coordination with the issuer to provide substantial assistance should be the prerequisite. The association also recommends that trading platforms may determine the compliance of foreign stablecoins based on official issuer lists and trading bans, and adjust the standards for determining user location in permissionless protocols.