The US Is About to Require Licenses for Stablecoin Issuers. Here’s What We Know

TLDR

• The US Treasury has issued a Notice of Proposed Rulemaking on the GENIUS Act stablecoin law
• The GENIUS Act is set to take effect on January 18, 2027
• Entities will need a federal or state license to issue payment stablecoins in the US
• The OCC, FDIC, and Federal Reserve also issued proposed rules but all missed the July deadline to finalize them
• Public comment is open for 60 days after publication in the Federal Register

The US Treasury Department has begun seeking public comment on how it plans to implement the GENIUS Act, the stablecoin legislation signed into law by President Trump in July 2025.

JUST IN: 🇺🇸 Treasury Secretary Scott Bessent says the "Treasury is moving quickly to implement" the GENIUS Act 👀

"Beginning on January 18, 2027, the expected effective date of the GENIUS Act," 👀 pic.twitter.com/VCxbnwNM5G

- Bitcoin Magazine (@BitcoinMagazine) August 17, 2026

The Treasury issued a Notice of Proposed Rulemaking on Monday. It covers Section 3 of the Guiding and Establishing National Innovation for US Stablecoins Act and is now open to public feedback.

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