U.S. Treasury Department Seeks Public Comment on Implementation of GENIUS Act Stablecoin Legislation

The U.S. Department of the Treasury is asking for public comment on the upcoming implementation of new stablecoin rules.

The GENIUS Act, signed by US President Donald Trump last year, establishes a regulatory framework for stablecoins, crypto assets pegged to the US dollar. The legislation requires each token to be fully backed by liquid assets such as cash or short-term US Treasuries.

The Treasury Department is specifically requesting public opinion on section 3 of the Act, which delineates who can issue and sell stablecoins in the United States.

The GENIUS Act is expected to go into effect on January 18th, prohibiting people from issuing stablecoins in the US unless they’re licensed.

Additional restrictions materialize later: On July 18th, 2028, the legislation is set to restrict digital asset service providers from offering or selling any payment stablecoins to people in the US unless the assets are issued by a licensed issuer.

Treasury Secretary Scott Bessent says the department welcomes opinions from stablecoin stakeholders.

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