Andreas Veneris: Comment in Response to the U.S Treasury Dept. Advanced Notice of Proposed Rulemaking for GENIUS Act Implementation

Comment in Response to the U.S. Department of the Treasury's Advanced Notice of Proposed Rulemaking on the Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS) Act Implementation

Abstract
This comment recommends the delineation of criteria for a voluntary heightened standard for privacy in compliant decentralized payment systems. The comment also explains how this standard could be met by relatively decentralized stablecoin payment systems that support compliance with regulations governing sanctions, Know Your Customer (KYC), Anti-Money Laundering (AML), and Countering the Financing of Terrorism (CFT). This can be achieved by embedding privacy-preserving compliance mechanisms directly into a stablecoin's distributed ledger.

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