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【New Developments in US Cryptocurrency Regulation】
① Details of the GENIUS Act (Stablecoin Licensing / Custody / Capital Requirements) are expected to be implemented by mid-2026 and fully effective by early 2027, requiring 100% reserves + priority claims;
② SEC plans to introduce an “Innovation Exemption,” providing a 12-24 month light regulatory testing period for crypto startups, simplifying disclosures, and lowering compliance thresholds. Accelerating compliance, benefiting both institutions and startups!