U.S. Treasury Seeks Public Input on GENIUS Act Implementation for Stablecoin Regulation

The U.S. Treasury Department has initiated a formal comment period to shape the regulatory framework for stablecoins under the newly enacted GENIUS Act. Public and industry stakeholders have until October 20 to address key compliance questions, including reserve custody standards and cross-border regulatory alignment.

Treasury's advance notice of proposed rulemaking marks the first step in crafting detailed rules for stablecoin issuers. The process emphasizes balancing state/federal oversight while combating illicit finance—building on last month's separate anti-money laundering risk assessment for digital assets.

The GENIUS Act represents Washington's first major crypto legislation, mandating clear issuer standards, tax treatment, and AML enforcement. International coordination remains a focal point as global jurisdictions race to establish stablecoin regimes.