Treasury Seeks Feedback on GENIUS Act Stablecoin Rules

US Treasury issues NPRM for GENIUS Act implementation, seeking public input on licensing and distribution rules for payment-style stablecoins to advance regulatory clarity.

Woofun AI reports that the U.S. Department of the Treasury issued a Notice of Proposed Rulemaking on August 17 to implement the GENIUS Act, soliciting public feedback on payment-style stablecoin regulations. Treasury Secretary Scott Bessent stated the administration aims to provide regulatory certainty to support business innovation while strengthening the dollar's global reserve status. The draft rules clarify definitions for issuing stablecoins in the U.S. and offering them to domestic persons, requiring licenses from January 18, 2027, and restricting foreign-issued tokens unless specific compliance conditions are met by July 18, 2028. A 60-day public comment period begins upon publication in the Federal Register.