A recent evaluation indicates that the majority of U.S. dollar-pegged stablecoins fail to comply with the stringent reserve asset requirements outlined in the GENIUS Act.
Released on Friday, a research study conducted by the Bank Policy Institute (BPI) analyzed data concerning the reserve holdings of the ten largest circulating dollar stablecoins. According to the findings, these top digital assets accounted for 97% of the total stablecoin market share as of June of this year.
The evaluation casts light on ongoing regulatory compliance challenges within the digital asset sector as policymakers push for stricter oversight of financial reserves backing digital currencies.