The Blockchain Association urged the U.S. Department of the Treasury to replace its proposed reasonably believes standard for identifying U.S. counterparties with an actual knowledge standard based on ordinary business operations.

From the articleBlockchain Association backs Treasury stablecoin rule but wants tighter definitionsAlso in GENIUS Act: Blockchain Association Seeks Clearer DeFi, Stablecoin Rules, Blockchain Association says Treasury's GENIUS Act rollout needs clearer DeFi, foreign issuer rules