TechFlame reports that the US Stablecoin Certification Review Board will determine whether each state's framework is “substantially similar” to the federal stablecoin issuance system. The committee is headed by the Secretary of the Treasury and includes the Chairman of the Federal Deposit Insurance Corporation (FDIC). An agreement is required for each state jurisdiction to obtain approval from the federal government to regulate stablecoins. The “GENIUS Act” aims to simplify state-level regulation, and Gavin Meyers, financial services regulatory partner at Pierson Ferdinand LLP, said the bill is expected to reduce regulatory chaos in various states.