Fed's Warsh Says Regulators Must Coordinate on GENIUS Act Rules to Curb Arbitrage
JH Kim
Summary
- Federal Reserve Chair Kevin Warsh said regulators need to coordinate as they draft implementing rules for the GENIUS Act.
- Warsh said he does not want companies to engage in regulatory arbitrage by moving to the jurisdiction with the loosest rules.
- He added that regulators should work together to prevent such regulatory arbitrage.
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Federal Reserve Chair Kevin Warsh said regulators need to coordinate as they draft implementing rules for the GENIUS Act, Bitcoin.com reported on July 15.
Warsh said he does not want companies to engage in "regulatory arbitrage" by seeking out the least restrictive jurisdiction to avoid oversight. He added that regulators should work together to prevent that.
JH Kim
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