Treasury Proposes GENIUS Act Rules Defining Payment Stablecoin Issuance and Licensing

The U.S. Treasury has proposed new rules under the GENIUS Act to clarify when payment stablecoins are “issued,” “offered,” or “sold” in the United States, and how those activities relate to licensing obligations for issuers and platforms. The proposal is intended to set core definitions and jurisdictional boundaries ahead of major GENIUS Act restrictions scheduled to begin in January 2027 ^{[1] [2]}.

Treasury said the notice opens a public comment period lasting 60 days from publication in the Federal Register, and described the GENIUS Act as a framework with “rules of the road” for payment stablecoins. The rules would help determine when stablecoin-related activity requires federal or state oversight and how regulators characterize platforms that make stablecoins available in the U.S ^[3].

Congress completed the GENIUS Act legislation, and the Treasury’s latest rulemaking steps are part of implementing the stablecoin regulatory framework as the law’s operational requirements move closer ^{[4] [1]}.