Treasury Proposes New Rules to Define Stablecoin Issuers Under GENIUS Act

The U.S. Treasury Department has proposed rules clarifying who counts as a stablecoin issuer under the GENIUS Act, a major step toward putting the law into full effect.

Officials Push for Quick Action

Treasury Secretary Scott Bessent said the goal is to give businesses regulatory clarity while keeping the U.S. dollar strong and the country competitive in crypto.

Public Input and Delays

The public now has 60 days to comment, with special focus expected on foreign issuers like Tether. The law’s one-year deadline already passed last month, and its January 18 effective date may also slip, though transition periods are typical for new rules.

The proposal overlaps with the stalled Digital Asset Market Clarity Act, which would revise stablecoin reward rules but faces uncertain prospects after failing key votes.