U.S. Treasury proposes GENIUS Act rules requiring stablecoin issuers to obtain federal or state licenses by January 2027, and restricting foreign stablecoin offerings to U.S. users starting July 2028.
DeFi & Yields ·
The U.S. Treasury Department has released its first major proposal to put the GENIUS Act into effect, defining how stablecoin issuers will operate and which entities must comply with the law Congress passed last year. Treasury Secretary Scott Bessent said the administration aims to provide regulatory clarity while supporting the U.S. dollar's role as the world's reserve currency. The public and industry participants have 60 days to submit feedback, with a final rule expected months later; the law's one-year implementation deadline passed last month, and the effective date is set for January 18, though full compliance by then is considered unlikely.