US Treasury Sets 60-Day Comment Window for GENIUS Stablecoin Rules

The proposal is a key step in implementing the GENIUS Act. It seeks to clarify when stablecoin issuers need a federal or state license and when crypto platforms are considered to be making stablecoins available in the U.S.

Treasury’s notice opens a public-comment period lasting 60 days from its publication in the Federal Register. Treasury Secretary Scott Bessent described the GENIUS Act as “a landmark framework and clear rules of the road for payment stablecoins” and said the department is moving quickly to implement it.

According to Bessent, the goal is to give businesses the regulatory certainty needed to “innovate and grow in America,” while strengthening the global role of the U.S. dollar.

When stablecoin activity falls under U.S. rules

The proposed rule focuses on two legal definitions: what it means to issue a payment stablecoin in the United States and to offer or sell one to a person in the country.

These definitions will determine which companies must comply with the GENIUS Act’s licensing requirements. Beginning January 18, 2027, companies generally will not be allowed to issue paymen...