US Treasury Initiates Rulemaking Process for GENIUS Act Stablecoin Regulations
The U.S. Treasury opens a second period for public comments on the GENIUS Act, focusing on stablecoin issuer regulations and compliance with anti-money laundering standards.
TRUMP
Fact Check
The statement is strongly confirmed by the evidence. Multiple press releases from the U.S. Department of the Treasury (Sources 2, 8, 10) explicitly state that the agency has issued a 'Request for Comment' and an 'Advance Notice of Proposed Rulemaking (ANPRM)' regarding the GENIUS Act. Issuing a request for comment or an ANPRM is a standard, formal step for initiating the federal rulemaking process. This is corroborated by numerous other sources (1, 3, 12, 13, 16) that confirm the Treasury's legal mandate to create rules for the Act after it was signed into law.
Summary
The U.S. Treasury has extended the public comment period for the GENIUS Act, a law regulating stablecoin payments in the U.S., inviting feedback on issuer regulations and compliance measures. The new comment window closes on October 17, 2025. The act aims to implement stablecoin regulations by late 2026 or early 2027, with ongoing legislative developments including the Responsible Financial Innovation Act in Congress.
Terms & Concepts
- GENIUS Act: A U.S. legislative measure aimed at regulating stablecoins, focusing on compliance, issuer restrictions, reserve asset management, and anti-money laundering standards.
- Stablecoin: A type of cryptocurrency designed to maintain a stable value by pegging it to a reserve asset, such as a fiat currency or commodity.
- Advance Notice of Proposed Rulemaking (ANPRM): A public notice issued by a government agency to solicit feedback before formally proposing new regulations.