Treasury Unveils Stablecoin Rules as GENIUS Act Deadline Looms

The US Treasury has taken another step towards implementing landmark stablecoin regulations under the GENIUS Act. On August 17, 2026, the Treasury released proposed rules for a 60-day public consultation on governance of payment stablecoins in the US.

The new regulations aim to clarify what constitutes issuing a stablecoin 'in the United States' and when digital asset service providers are considered to be offering or selling stablecoins to US customers. This clarification is crucial for businesses seeking access to the world's largest financial market.

Under the GENIUS Act, from January 18, 2027, businesses will generally be prohibited from issuing payment stablecoins in the US unless they hold an appropriate federal or state licence. Further restrictions are scheduled from July 18, 2028, when platforms will generally be unable to offer payment stablecoins to US users unless the tokens come from qualifying issuers under the new regulatory framework.