U.S. Treasury proposes GENIUS Act stablecoin regulations
6.8 Regulation The U.S. Treasury proposed GENIUS Act rules for stablecoins, requiring issuers to obtain licenses. Public comment is open for 60 days. New licensing rules start in 2027 and 2028.
The U.S. Treasury Department has released a proposed rulemaking to implement the GENIUS Act, advancing the regulatory framework for payment stablecoins in the United States. The proposal is open for public comment for 60 days and aims to clarify when a payment stablecoin is considered issued, offered, or sold in the U.S., as well as when issuers and service providers must obtain a federal or state license. Starting January 18, 2027, entities issuing payment stablecoins in the U.S. will generally be required to hold the appropriate license. From July 18, 2028, digital asset service providers will be prohibited from offering or selling payment stablecoins to U.S. persons unless the stablecoin is issued by a licensed entity. The Treasury highlights that these rules are intended to provide regulatory certainty for businesses and reinforce the global role of the U.S. dollar. This marks a shift from a legislative framework to enforceable regulation for the stablecoin industry.
