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flag Fed Governor Barr supports the GENIUS Act for stablecoin clarity but warns of risks.

flag U.S. Federal Reserve Governor Michael Barr praised the recently passed GENIUS Act for providing necessary clarity for stablecoin issuers. flag While the law aims to support market growth, Barr warned that effective implementation is critical to mitigate risks, including bank runs, money laundering, and financial instability. flag He emphasized that unresolved challenges regarding reserve assets, consumer protections, and regulatory oversight must be addressed to ensure the safety of the market.

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