Treasury Secretary Bessent likens GENIUS Act to Lincoln-era banking reform
Summary
Treasury Secretary Bessent has compared the newly passed GENIUS Act to historical banking reforms from the era of Abraham Lincoln. Meanwhile, the Office of the Comptroller of the Currency has established final regulations governing reserves and redemptions for stablecoins. Bessent described the legislative package as a major turning point for the financial sector in the United States.
The OCC has finalized rules for stablecoin reserves and redemptions, with Bessent calling the GENIUS Act a “watershed moment for American finance.”
Source: Read the full story at Cointelegraph.com News
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