US Treasury Proposes Rules Defining Who Can Legally Issue and Sell Stablecoins Under GENIUS Act
The US Treasury Department has proposed rules implementing the GENIUS Act, the stablecoin law signed last year, according to CoinDesk. The Treasury is seeking public comment on the rules, according to The Block.
Under the law, entities generally cannot issue payment stablecoins in the US without obtaining an appropriate federal or state license, according to The Block. Decrypt reports that exchanges and other crypto platforms would face new restrictions on selling stablecoins to US customers beginning in 2027.
The proposal comes after a July deadline, according to Cointelegraph, which notes the law is scheduled to take effect in January 2027, potentially without finalized regulations in place from US government agencies.
Sources: CoinDesk, Cointelegraph, The Block, Decrypt
This article is for information only and is not financial advice.
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US Department of the Treasury GENIUS Act
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