Treasury Unveils GENIUS Act Licensing Rules for Payment Stablecoins

Treasury Secretary Scott Bessent announced on Monday that the Treasury is moving quickly to implement the GENIUS Act, a landmark framework for payment stablecoins. The act sets out who needs a federal license to issue or sell stablecoins in the United States.

The Notice of Proposed Rulemaking defines what it means to issue a payment stablecoin and when an issuer needs a GENIUS Act license. Starting January 18, 2027, no one can issue a payment stablecoin without an appropriate federal or state license.

The act also clarifies who can offer or sell stablecoins to US persons. Starting July 18, 2028, digital asset service providers cannot offer or sell any payment stablecoin to U.S. persons unless the issuer holds a valid license.

Bessent posted on X that Donald Trump and Congress delivered the GENIUS Act as a landmark framework for payment stablecoins and that the Treasury is moving quickly to implement it.