U.S. Treasury Proposes GENIUS Act Stablecoin Rule

The U.S. Treasury Department has proposed a rule to implement the GENIUS Act's stablecoin framework, moving the federal approach to dollar-pegged tokens from legislation toward regulation, the Treasury said.

The proposal was announced on August 17, according to a Treasury statement. CoinDesk first reported the development.

The GENIUS Act, which gained bipartisan support in Congress, sets out a framework for stablecoin issuance. The proposed rule is the first step in translating that legislation into enforceable requirements.

A proposed rule is a preliminary regulatory instrument. It does not take effect until a public comment period and final rulemaking are completed. The Treasury did not specify a timeline for the comment period or the effective date.

Stablecoin issuers, exchanges, and market participants will review the full text once published. The official rule text has not yet been released.