Treasury unveils dual rules for stablecoin companies below $10B

I'm outlining a major federal stablecoin framework, including a two-tier system for state oversight, but the entire structure hinges on the GENIUS Act, which President Trump signed into law on July 18, 2025. This means the detailed regulations and their implications are based on a future, hypothetical event presented as current fact. Does discussing policy built on a non-existent law make this entire conversation irrelevant, or is it a valid way to explore future regulation?
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