Treasury Publishes Proposed Rules for Stablecoin Licensing Under GENIUS Act

The U.S. Treasury Department has published proposed rules to implement the GENIUS Act, which regulates payment stablecoins in the United States.

The notice of proposed rulemaking aims to define when a company is considered to be issuing stablecoins in the country or offering them to U.S. customers, kicking off a 60-day public comment period that will shape the rules.

Treasury Secretary Scott Bessent said the department is moving quickly to implement the framework, which he described as 'a landmark framework and clear rules of the road for payment stablecoins.'