Treasury Seeks Public Comments on Proposed Stablecoin Rules Under GENIUS Act
The US Department of the Treasury is seeking public comments on its proposed framework for implementing key provisions of the Guiding and Establishing National Innovation for US Stablecoins (GENIUS) Act. The GENIUS Act establishes a regulatory framework for stablecoins, which are digital assets pegged to the value of a traditional currency.
The proposed rules aim to clarify when a company is considered to be issuing a stablecoin in the US and when digital asset service providers are offering or selling stablecoins to US users. Under the GENIUS Act, only permitted issuers will generally be allowed to offer stablecoins to US customers. Beginning on January 18, 2027, issuers will need to obtain an appropriate federal or state license to operate.
Treasury Secretary Scott Bessent stated that the proposed rules are intended to provide businesses with greater regulatory certainty while supporting innovation and the role of the US dollar in global markets. He emphasized that Treasury welcomes input from stakeholders as they work to provide the regulatory certainty businesses need to innovate and grow in America.