U.S. Treasury to Seek Public Comments on Genius Act for Stablecoin Issuance and Sales

Stablecoin Regulatory Proposal Released

On the 17th, the U.S. Treasury released a regulatory proposal for the Genius Act, a law targeting payment-oriented stablecoins.

The purpose of this proposal is to define activities such as the issuance, provision, and sale of stablecoins in the United States, thereby clarifying the rules for the industry. Following the publication of the proposal in the Federal Register, the Treasury will accept public comments for 60 days.

Last September, the Treasury had already solicited public comments on the implementation of the Genius Act. This regulatory...