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The US Genius Act controls stabechoin as separate financial instruments. Indian experts suggest that India adopts a similar outline for INR-supported stablecoins.
The recent developments in the Genius Act have brought the US a step close to regulate the $ 250 billion Stabecrim market.
As the US takes a big step towards regulating stabechoin with the Genius Act, Indian crypto experts say it is time for India to follow a similar path-by creating a stabeloin-specific structure instead of regulation in the east crypto landscape.
Recently proposed a clear outline for the establishment and establishment of national uniform innovation in the Stabechines (Genius) Act approved by the US Senate Banking Committee, a clear outline for “payment stabelcoins” – 1: 1 was supported by Fiat, for payment and disposal. According to the GIOTTUS CEO, Vikram Subbraj, the Act is important as it considers Stabechines as a separate financial instrument, similar to the money market funds, distinguishes them from the regulatory ambiguity around other digital assets.
It also recognizes the systemic importance of stablecoins in digital payments and developed architecture of programmable finance. Customer-centric provisions have been clearly determined. Its provision for reserved requirements (cash, bank-sub-deposits etc.); Clear redemption rights; And dual licensing (federal and state-recorders) are clearly aimed at protecting users, while all allow adequate scope for innovation within a defined compliance perimeter.
Sabbaraja noted that the Act includes strong consumer safety measures – requirements, redemption rights, and dual licenses – which protect users by promoting innovation. He believes that India can benefit from a uniform phased strategy. He said, “A Stabechoin-first policy like the Genius Act can offer a practical entry point for Indian regulators,” he said that INR-supported stabilcoins can be integrated at domestic and globally with systems such as UPI and system such as UPI and low remittance and transaction costs.
While doing this, Edul Patel, CEO of Madrex, emphasized that a targeted regulatory approach would promote legal clarity, innovation and strengthen the consumer trust. Highlighting the economic capacity, he said, “Using Stabelcoin alone can save Indian users $ 6-8 billion per year.”
He said that such regulation would offer very essential legal clarity, increase consumer protection and open doors for innovation in digital finance, he said.
Varun Yadav is a deputy editor in News18 Business Digital. He writes articles on markets, personal finance, technology and more. He completed his post-graduation diploma in English journalism with Indian example …Read more
Varun Yadav is a deputy editor in News18 Business Digital. He writes articles on markets, personal finance, technology and more. He completed his post-graduation diploma in English journalism with Indian example … Read more
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