The Blockchain Association urged the US Treasury to clarify proposed GENIUS Act rules on DeFi software, foreign-issued stablecoins and liability for unlawful issuance. These are the group’s requests, not changes Treasury has adopted.
The group wants the rules to distinguish customer-facing financial businesses from self-custody software and validators. It argues that liability for knowing participation should require genuine knowledge and meaningful assistance, not ordinary secondary-market activity. It also says requirements involving foreign issuers should rely on accessible regulatory information rather than assume providers can investigate issuers with which they have no direct relationship.
