The U.S. Treasury Department is moving ahead with its work to implement the GENIUS Act, opening another stage in the creation of a federal framework for payment stablecoins. The department is
The U.S. Treasury Department is moving ahead with its work to implement the GENIUS Act, opening another stage in the creation of a federal framework for payment stablecoins.
The department is seeking public input on proposed rules as regulators work to turn the legislation into a functioning regulatory system.
The move gives stablecoin companies, financial institutions and other industry participants an opportunity to weigh in before the rules are finalized.
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The Guiding and Establishing National Innovation for U.S. Stablecoins Act, better known as the GENIUS Act, establishes the first federal framework specifically designed to regulate payment stablecoins in the United States.
President Donald Trump signed the legislation into law in July 2025. The law is designed to establish rules around stablecoin issuers while addressing consumer protection, financial stability and illicit-finance risks.
Among other provisions, the framework requires payment stablecoins to be backed by reserves and establishes requirements for permitted issuers.
It also gives smaller issuers the option of operating under state regulatory regimes when those systems are substantially similar to the federal framework.
Treasury has already issued proposals covering parts of the law, including state-level regulation and anti-money-laundering and sanctions requirements.
Treasury Secretary Scott Bessent said the administration is moving quickly to implement the framework and welcomed feedback from stakeholders.
“POTUS 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,” Bessent wrote on X.
He said the rules could provide businesses with greater regulatory certainty while helping the U.S. dollar maintain its position as the world's reserve currency.
Bessent also said the administration wants to “keep America the crypto capital of the world.”
For the stablecoin industry, the rulemaking represents another step toward clearer U.S. regulation after years of uncertainty.
