Treasury Seeks Public Comments on Proposed Stablecoin Regulations Under GENIUS Act

The US Department of the Treasury is seeking public input on its proposed framework for implementing key provisions of the Guiding and Establishing National Innovation for US Stablecoins (GENIUS) Act. The legislation aims to establish a regulatory framework for stablecoins, which are digital assets pegged to a fiat currency.

Under the GENIUS Act, only permitted issuers will be allowed to offer stablecoins to US customers. Beginning on January 18, 2027, issuers will need to obtain an appropriate federal or state license to operate. The legislation also restricts foreign-issued stablecoins, allowing foreign issuers who satisfy certain criteria to issue payment stablecoins in the US.

Treasury Secretary Scott Bessent emphasized that the proposed rules are intended to provide businesses with greater regulatory certainty while supporting innovation and the role of the US dollar in global markets. He noted that Treasury welcomes input from stakeholders as it works to provide the regulatory certainty businesses need to innovate and grow in America.