Treasury Seeks Public Comment on GENIUS Act Stablecoin Regulations

The U.S. Treasury Department is seeking public input on implementing new stablecoin regulations under the GENIUS Act.

The legislation, signed by President Donald Trump last year, establishes a framework for stablecoins and requires each token to be backed by liquid assets such as cash or short-term US Treasuries.

Section 3 of the Act is specifically up for public comment, which outlines who can issue and sell stablecoins in the United States.

The GENIUS Act is set to go into effect on January 18th, prohibiting individuals from issuing stablecoins unless they're licensed. Additional restrictions will kick in on July 18th, 2028, restricting digital asset service providers from offering or selling payment stablecoins unless issued by a licensed issuer.

Treasury Secretary Scott Bessent welcomes opinions from stakeholders as the department works to implement the framework and provide regulatory certainty for businesses.