Circle President & Former CFTC Chair: Congress Should Next Pass the CLARITY Act to Perfect Digital Asset Regulation

Odaily News: At a hearing of the U.S. House Financial Services Committee, Circle President and former CFTC Chair Heath Tarbert stated that the GENIUS Act has established a federal regulatory framework for payment stablecoins, effectively building a "dollar layer" for the Internet financial system. He urged Congress to next pass the CLARITY Act to complete the long-term regulatory framework for the digital asset "market layer." Additionally, Tarbert called for the final implementation rules of the GENIUS Act to close regulatory arbitrage loopholes for offshore stablecoins, requiring intermediaries that actually serve U.S. customers to be subject to corresponding restrictions, and ensuring that foreign stablecoin issuers meet truly comparable regulatory standards.