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US Treasury seeks comments on rules for stablecoin licensing under GENIUS Act
The proposed rule would spell out who must obtain federal or state licenses to issue payment stablecoins, ahead of the law’s Jan. 18, 2027 effective date.
The U.S. Department of the Treasury has opened a public consultation on implementing rules tied to the GENIUS Act, focusing on stablecoin licensing requirements, according to Bitcoin Magazine.
In a Monday announcement, Treasury said it is seeking input from stakeholders on a proposed rule meant to clarify who needs a license to issue a stablecoin, particularly for payment stablecoins that would be subject to new regulatory thresholds.
The GENIUS Act, signed into law in 2025, permits banks and other entities to issue stablecoins if they back the tokens with assets such as U.S. Treasuries and provide monthly disclosures of their reserves. Treasury said that while the law was passed by Congress, agencies still need to draft and finalize specific implementing rules, which will follow a public comment period before taking legal effect.
Treasury also highlighted several questions for respondents, including whether key terms are defined clearly enough, when a stablecoin should be treated as “issued,” and what due diligence digital asset service providers should perform when relying on compliance representations from a foreign issuer. The effective date is expected to be Jan. 18, 2027, with stricter offer and sale prohibitions for certain stablecoin activity beginning July 18, 2028.
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