Treasury Seeks Public Input on GENIUS Act Stablecoin Regulations

The U.S. Treasury is moving quickly to implement the GENIUS Act, a landmark framework for regulating stablecoins in the country. The legislation was signed into law by President Donald Trump in 2025 and allows banks and other entities to issue stablecoins backed by assets like U.S. Treasuries, provided they meet certain conditions.

The Treasury is now seeking public input on proposed rules that would clarify who needs a license to issue a stablecoin. The consultation comes as the U.S. government works to craft laws to regulate the crypto industry, with lawmakers aiming to pass the Clarity Act in September. President Trump has urged lawmakers to get the bill over the line, saying it's necessary for the U.S. to take the lead over China.

The GENIUS Act is expected to go into effect on January 18, 2027, with stricter rules on stablecoin issuance set to kick in from July 18, 2028. Treasury Secretary Scott Bessent said that the department welcomes input from stakeholders as it works to provide regulatory certainty for businesses and cement the role of the U.S. dollar as the world's reserve currency.