WuShuo has learned that a16z crypto has submitted its first round of feedback on the implementation phase of the GENIUS Act to the U.S. Treasury Department, suggesting the use of 'privacy-preserving decentralized digital identity' to enhance compliance and security. a16z is urging FinCEN to update anti-money laundering (AML) and KYC rules to allow financial institutions to adopt cryptographic technologies like zero-knowledge proofs (ZKP), achieving a win-win for identity verification and privacy protection. They also emphasized the need to clearly distinguish between 'decentralized stablecoins' and 'payment stablecoins,' advocating for a fair competition and technology-driven regulatory framework to ensure the GENIUS Act strengthens the dollar's position while unlocking innovation potential. http://(wublock123.com)/index.php?m=content&c=index&a=show&catid=6&id=51724