Wu Blockchain has learned that Miles Jennings, Head of Policy at a16z crypto, revealed that a16z has submitted a comment letter to the U.S. Treasury regarding the proposed rules under the GENIUS Act. The letter calls for state-level stablecoin regulatory frameworks to align with the federal framework. a16z stated that for stablecoins to be used for payments, they must be interchangeable, and therefore core rules around reserves, redemption, capital, liquidity, and risk management should not vary by state. At the same time, definitions like “payment stablecoins” and “digital asset service providers” should also be uniformly applied to avoid state regulators reinterpreting these terms. a16z further suggested clarifying interstate operation rules, enabling compliant state-level stablecoin issuers to serve the national market under a more transparent framework. https://(wublock123.com)/news/a16z-submits-genius-act-comments-to-us-treasury-62108