The Treasury seeks public comment on stablecoin regulations as agencies miss a July deadline for finalizing rules under the GENIUS Act.
The US Treasury Department has released proposed rulemaking for the GENIUS Act, a 2025 law establishing a framework for payment stablecoins. The act is set to take effect in January 2027, though final regulations may not be completed by then.
The bill required agencies to finalize rules within 120 days or by July 2026, whichever came first. However, the Treasury, OCC, FDIC, and Federal Reserve missed the deadline, delaying full implementation. The law aims to provide regulatory clarity for stablecoin issuers and users.
Treasury Secretary Scott Bessent emphasized the need for stakeholder input to foster innovation while ensuring compliance. Public comments will shape the final rules before the 2027 deadline.