Wu Blockchain has learned that on October 19, the U.S. Blockchain Association submitted formal comments to the U.S. Treasury regarding the implementation rules for Section 3 of the GENIUS Act. The association called for clear regulatory boundaries for Digital Asset Service Providers (DASP) to ensure that self-custody software, blockchain validators, DeFi liquidity providers, and institutions conducting proprietary trading are not subject to regulation due to their activities. The association also opposed the direct classification of ordinary market-making, token distribution, and secondary market trading as participation in illegal stablecoin issuance, arguing that related liability should be based on actual knowledge and substantive assistance provided in collaboration with the issuer. https://www.(wublock123.com)/news/us-crypto-lobby-treasury-market-making-not-illegal-stablecoin-issuance-70335