[Paradigm Submits Comment Letter to U.S. Treasury on State-Level Regulatory Pathway Under GENIUS Act] According to the official blog, Paradigm has submitted a comment letter to the U.S. Treasury regarding the rulemaking for the state-level regulatory pathway under the GENIUS Act. Paradigm supports the core framework of the proposal but points out that without addressing four key issues, the state-level pathway will not effectively serve issuers. First, the proposal anchors the federal framework to OCC regulations that have not yet been finalized, requiring states and issuers to plan based on undefined benchmarks, which directly hinders market access. The Treasury should not finalize this rule before the OCC's implementation rules are fully determined. Second, the proposal requires unanimous agreement from the heads of the Treasury, Federal Reserve, and FDIC to certify state-level systems but does not set decision deadlines, standards for veto explanations, or mechanisms to prevent a single member from indefinitely blocking certification.