US Treasury “Moving Quickly” to Implement Crypto GENIUS Act

The US Department of Treasury is now “moving quickly” to implement the crypto GENIUS act, according to Treasury Secretary Scott Bessent. Today, the U.S. Department of the Treasury issued a Notice of Proposed Rulemaking, seeking public comment related to Treasury’s implementation of section 3 of the Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS) Act.

“President Trump and Congress delivered the GENIUS Act, establishing a landmark framework and clear rules of the road for payment stablecoins, and Treasury is moving quickly to implement that framework,” said Treasury Secretary Scott Bessent. “Treasury welcomes input from stakeholders as we work to provide the regulatory certainty businesses need to innovate and grow in America, cement the role of the U.S. dollar as the world’s reserve currency, and keep America the crypto capital of the world.”

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