Hyperliquid Policy Center (HPC) and Paradigm have jointly sent a letter to the U.S. Treasury, urging revisions to the anti-money laundering rule proposals from FinCEN and OFAC aimed at implementing the GENIUS Act. Both parties support limiting compliance obligations for stablecoin issuers primarily to the primary market but believe that OFAC's proposal to extend liability to smart contract-driven secondary market transactions could hold issuers accountable for transactions they cannot practically control, thereby weakening the use of regulated stablecoins in DeFi and open blockchain environments. The two organizations suggest further narrowing the relevant definitions and re-evaluating regulatory requirements for smart contract interactions. (The Block) https://(wublock123.com)/news/paradigm-hpc-call-to-narrow-stablecoin-aml-rules-defi-impact-62500