NYDIG has said that the USD1 stablecoin, issued by the Trump family-linked World Liberty Monetary challenge, requires higher and extra well timed attestation reviews, that are essential for investor and regulatory transparency. As of early October, the latest out there report was from July, lagging behind rivals like Circle’s USDC. Greg Cipolaro of NYDIG emphasised that up-to-date attestations are “non-negotiable” for a challenge of USD1’s stature. Moreover, NYDIG famous that USD1’s construction, with 78% of its $2.7 billion provide held offshore, might battle with the incoming GENIUS Act, which is anticipated to restrict stablecoin issuance to subsidiaries of regulated banks or state-qualified entities. NYDIG suggests BitGo Applied sciences, which oversees custody, doesn’t at present match these {qualifications}, doubtlessly necessitating structural modifications.
(Supply：CoinDesk)
