US Treasury Unveils GENIUS Act Stablecoin Rules Amid January Deadline Looms

The US Department of the Treasury has proposed rules to implement the GENIUS Act, which aims to regulate stablecoins in the US. The notice opens a 60-day public comment period on stablecoin issuance definitions. According to the act, no entity may issue a payment stablecoin in the US without a federal or state license once it takes effect on January 18, 2027.

Treasury Secretary Scott Bessent said the administration is moving quickly to deliver regulatory certainty, with the goal of 'cementing the role of the US dollar as the world's reserve currency and keeping America the crypto capital of the world.'

The proposed rules also exist alongside separate legislative activity in Congress, including the Digital Asset Market Clarity (CLARITY) Act, which would rewrite portions of the GENIUS Act. However, the bill has stalled after failing to advance key votes earlier in August.