Treasury Spells Out Stablecoin Issuance Rules Under GENIUS Act

The U.S. Department of the Treasury has proposed rules defining which stablecoins can be issued or sold in the United States under the GENIUS Act.

According to the proposal, beginning January 18, 2027, stablecoin issuers generally must obtain a federal or state license to issue payment stablecoins in the US. Platforms can also sell foreign-issued stablecoins, but only if the foreign issuer complies with U.S. legal orders and agreements between the U.S. and the country where it is regulated.

Starting July 18, 2028, broader restrictions would generally prevent crypto exchanges and other digital asset platforms from selling stablecoins to U.S. customers, 'unless the payment stablecoin is issued by a permitted payment stablecoin issuer.'

Treasury Secretary Scott Bessent wrote that the regulations would provide businesses with regulatory certainty while helping 'cement the role of the U.S. dollar,' and welcomed public input.