Treasury Unveils Proposed GENIUS Act Rules Amid Fading Deadline

The US Treasury Department has issued a notice of proposed rulemaking related to the implementation of the GENIUS Act, a bill signed into law last year aimed at establishing a framework for payment stablecoins.

According to the Treasury Department, public comment on the proposed rules is open for 60 days following publication in the Federal Register. This comes after several US government agencies reportedly missed the 120-day deadline in July to finalize regulations before January 2027, when the GENIUS Act is set to take effect.

Treasury Secretary Scott Bessent said that the department 'welcomes input from stakeholders as [it works] to provide the regulatory certainty businesses need to innovate and grow in America.'