In brief: The GENIUS Act stablecoin rules have provided the statutory framework for payment stablecoins in the United States since July 2025, yet full implementation in the market is still outstanding. Treasury published a further proposed rule on August 17, 2026, and the OCC is aiming, by its own account, for a final rule by November 2026. January 18, 2027 counts as the central statutory date to watch, but a proposal or an expected timetable is not an applicable final rule. MiCA already gives the EU an established framework, although in legal and institutional terms it cannot be equated with the US regime.
The GENIUS Act stablecoin rules have been making headlines for months, yet many readers rightly wonder how much of it actually applies today. The answer is uncomfortable but important: the GENIUS Act was passed in July 2025, but what now shapes US stablecoin regulation are the concrete rules, procedures and supervisory decisions of Treasury, the OCC and other bodies. A statute on its own does not create a finished, workable market.
A stablecoin is at its core a crypto asset whose value is meant to be pegged to a referenc...
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