Treasury Advances GENIUS Act Rules Amid Tightened Timeline

The U.S. Treasury has launched a formal rulemaking process for the payment-stablecoin framework established by the GENIUS Act, which is set to take effect in January 2027.

The law's implementation timeline was delayed due to internal timing targets being missed by multiple agencies, including the OCC, FDIC, and Federal Reserve. However, Treasury still plans to open comments for a 60-day period after publishing the notice in the Federal Register.

The proposed framework would require entities to have a federal or state license before issuing a payment stablecoin in the U.S., with comments open until November 15th for the public to weigh in on how the framework should operate in practice. The law's effectiveness timeline leaves limited margin for delays, and market participants will be watching closely to see if agencies can converge on final requirements in time.