ChainCatcher report: The U.S. Department of the Treasury has issued a notice of proposed rulemaking for the implementing regulations of the GENIUS Act, seeking public comment on the regulatory framework for U.S. payment stablecoins. The draft clarifies the criteria for “issuing payment stablecoins in the United States” and “providing or selling payment stablecoins to persons within the United States,” to assist issuers and digital asset service providers in determining licensing and compliance obligations. Under the Act, beginning January 18, 2027, issuing payment stablecoins in the United States will generally require a federal or state license; beginning July 18, 2028, digital asset service providers will generally be prohibited from providing or selling payment stablecoins issued by unlicensed issuers to persons within the United States. The public comment period will last 60 days following publication in the Federal Register.
U.S. Treasury Seeks Public Comments on GENIUS Act Stablecoin Implementation Rules
ChaincatcherShare
Summary
The U.S. Treasury has released a notice of proposed rulemaking for the GENIUS Act, seeking public comments on stablecoin regulation. The draft outlines issuance criteria and compliance obligations for payment stablecoins, aiming to address risks including CFT (Countering the Financing of Terrorism). Payment stablecoin issuers must obtain federal or state licenses by January 18, 2027, and service providers must cease selling unlicensed stablecoins to U.S. persons by July 18, 2028. The 60-day public comment period begins upon publication in the Federal Register.
Source:Show original
Disclaimer: The information on this page may have been obtained from third parties and does not necessarily reflect the views or opinions of KuCoin. This content is provided for general informational purposes only, without any representation or warranty of any kind, nor shall it be construed as financial or investment advice. KuCoin shall not be liable for any errors or omissions, or for any outcomes resulting from the use of this information.
Investments in digital assets can be risky. Please carefully evaluate the risks of a product and your risk tolerance based on your own financial circumstances. For more information, please refer to our Terms of Use and Risk Disclosure.