According to Wu Blockchain, the U.S. Treasury is seeking public comments on the proposed rules under the 'GENIUS Act,' aiming to establish principle standards for determining whether state regulatory systems are 'substantially similar' to the federal stablecoin regulatory framework. Under this framework, stablecoin issuers with issuance volumes not exceeding $10 billion can opt for state-level regulation, but the relevant state systems must meet core requirements in areas such as reserves, disclosures, risk management, and regulatory authority, and must have sufficient enforcement capabilities. Issuers that fail to meet the criteria or do not submit certification will be transitioned to the federal regulatory system. https://(wublock123.com)/news/us-treasury-seeks-comment-genius-act-state-stablecoin-substantial-similarity-58972