New regulations require stablecoin issuers to obtain federal or state licenses by January 2027 and restrict platform sales by mid-2028.
The U.S. Treasury proposed rules Monday outlining who can legally issue or sell stablecoins in the U.S. under the GENIUS Act. Issuers must secure a federal or state license by January 18, 2027, to operate domestically.
The rules also bar crypto platforms from selling stablecoins to U.S. customers after July 18, 2028, unless the tokens come from an approved issuer. Foreign issuers may qualify if they comply with U.S. legal orders and bilateral agreements.
Treasury Secretary Scott Bessent said the regulations aim to provide regulatory clarity for businesses while enforcing the framework established by Congress last year.