NYDFS proposes stablecoin rules to align New York oversight with the GENIUS Act
The New York State Department of Financial Services has proposed new rules for payment stablecoin issuers, aiming to align the state’s long-running stablecoin framework with federal standards under the GENIUS Act. The June 9 proposal is designed to preserve New York’s supervisory role over state-regulated issuers if the framework is certified under the federal regime.