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The US has built a gate for foreign digital money companies.
Any company outside the US that wants to sell digital dollars to American customers needs permission from the US Treasury Secretary first — a formal decision that their home country's rules are "comparable" to the new US stablecoin law.
Here's the problem: the US Treasury hasn't published what "comparable" means. No country has been approved. No country even knows what it needs to do to get approved.
The gate exists. The key does not.
Part V of The GENIUS Files maps the full cross-border control architecture for digital dollar issuers— including three things the coverage has completely missed.
Start with n.1 : how the GENIUS Act controls foreign stablecoin issuers — the four mechanisms
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