Proposed rules require U.S. and foreign stablecoin issuers to obtain licenses by January 2027 and July 2028, respectively.
The U.S. Treasury proposed rules to enforce the GENIUS Act, mandating stablecoin issuers secure federal or state licenses to operate. Starting January 18, 2027, entities issuing payment stablecoins in the U.S. must hold an appropriate license.
From July 18, 2028, digital asset service providers may only offer payment stablecoins to U.S. users if issued by licensed entities. The rules aim to clarify regulatory oversight for domestic and foreign stablecoins. Treasury is accepting public comments for 60 days.