The U.S. Treasury Department is seeking comments on the implementation rules for stablecoins under the GENIUS Act

The U.S. Department of the Treasury has released a proposed rulemaking notice for the implementation of the GENIUS Act and is seeking public comments on the regulatory framework for payment stablecoins in the United States. The draft focuses on clarifying the applicable standards for "issuing payment stablecoins in the United States" and "offering or selling payment stablecoins to individuals within the United States," to assist issuers and digital asset service providers in determining licensing and compliance obligations.

According to the provisions of the Act, starting from January 18, 2027, issuing payment stablecoins in the United States will generally require federal or state-level licensing; starting from July 18, 2028, digital asset service providers will generally be prohibited from offering or selling payment stablecoins issued by unlicensed issuers to individuals within the United States. The public comment period will last for 60 days following the publication in the Federal Register.