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U.S. Treasury proposes new regulatory framework for stablecoins under GENIUS Act
The U.S. Department of the Treasury has issued a Notice of Proposed Rulemaking to implement Section 3 of the Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS) Act. Treasury Secretary Scott Bessent stated the department is “moving quickly” to establish a regulatory framework intended to provide certainty for businesses and reinforce the global role of the U.S. dollar.
The proposed rules aim to clarify the legal definitions of issuing, offering, and selling payment stablecoins within the United States. A key component of the framework involves licensing requirements, where entities will generally need federal or state authorization to issue payment stablecoins domestically. The rules also address the status of foreign issuers; digital asset service providers may be prohibited from offering unlicensed foreign stablecoins to U.S. customers starting July 18, 2028, unless the foreign issuers can comply with U.S. regulatory orders.
The GENIUS Act is expected to take effect on January 18, 2027. The Treasury has opened a 60-day public comment period, which is expected to conclude in mid-October 2026, to gather input from industry stakeholders and crypto experts on the economic impact and practical application of these regulations.
Entities
Bastion · Circle · Genius Act · McKinsey & Company · Scott Bessent · Tether · U.S. Department of the Treasury · U.S. Treasury Department
Claims
What the coverage asserts, and how many sources carry each claim.
- [● 7 SOURCES] Treasury Secretary Scott Bessent stated the department is moving quickly to establish the regulatory framework. bitnewsbot.com · www.tronweekly.com · blockchainreporter.net · www.cryptobreaking.com · news.bitcoin.com · +1 more
- [● 2 SOURCES] By July 18, 2028, service providers generally cannot offer unlicensed foreign payment stablecoins to U.S. persons. blockchainreporter.net
- [● 2 SOURCES] The proposed rules aim to define when an entity is issuing a payment stablecoin in the United States. blockchainreporter.net
- [○ 1 SOURCE] The Treasury is seeking feedback on 87 specific questions regarding the economic impact and compliance of the rules. news.bitcoin.com
- [● 4 SOURCES] The GENIUS Act is scheduled to take effect on January 18, 2027. blockchainreporter.net · www.cryptobreaking.com · news.bitcoin.com
- [● 6 SOURCES] The public comment period for the proposed rules is set for 60 days. www.tronweekly.com · blockchainreporter.net · www.cryptobreaking.com · news.bitcoin.com
- [● 3 SOURCES] The proposal includes requirements for foreign stablecoin issuers to comply with U.S. regulatory orders to serve U.S. customers. blockchainreporter.net · news.bitcoin.com
- [● 7 SOURCES] The US Treasury has issued a Notice of Proposed Rulemaking to implement Section 3 of the GENIUS Act. bitnewsbot.com · www.tronweekly.com · blockchainreporter.net · www.cryptobreaking.com · news.bitcoin.com · +1 more