The GENIUS Act establishes a federal framework for payment stablecoins, requiring Treasury and the Federal Reserve to issue implementing rules; the Treasury has opened a second public comment period to gather stakeholder input on illicit‑finance safeguards and regulatory details.
GENIUS Act sets federal rules for payment stablecoins and triggers Treasury/Fed rulemaking.
The Treasury opened a 31‑day public comment window focused on illicit activity and implementation specifics.
Implementation is tied to rule finalization and an 18‑month countdown, likely pushing full effect into late 2026.
GENIUS Act stablecoin payments: Treasury opens a second 31‑day comment period — submit feedback now to shape rules and enforcement.
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What is the GENIUS Act and how does it regulate stablecoin payments?
The GENIUS Act is U.S. federal legislation that creates a regulatory framework for payment stablecoins and directs the U.S. Department of the Treasury and the Federal Reserve to issue implementing rules. It focuses on consumer protections, reserve requirements, and anti‑money‑laundering safeguards for stablecoin payment systems.
How is the U.S. Treasury seeking public comment on GENIUS Act implementation?
The Treasury opened a second 31‑day public comment period focused on the advance notice of proposed rulemaking for the GENIUS Act. Stakeholders are invited to submit views on illicit finance risks, enforcement coordination, and technical rule details. The Treasury previously solicited comments in August with a broader window that closed Oct. 17.
When will the GENIUS Act take effect?
The law is slated to take effect 18 months after enactment or 120 days after the Treasury and Federal Reserve finalize regulations, whichever is later. Given current timelines, full implementation is likely in late 2026 at the earliest once final rules are published.
Why does the comment period matter for market participants?
Public comment shapes definitions, compliance timelines, and enforcement priorities. Financial institutions, crypto firms, and consumer advocates can influence anti‑illicit finance measures, reserve standards, and operational requirements that will determine how payment stablecoins operate in the U.S. market.
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Front‑load comments with key recommendations and supporting data. Cite operational impacts, compliance costs, or examples from payment systems. Reference official data from the U.S. Department of the Treasury, the Federal Reserve, and public market reports as evidence (all cited in text only).
The Senate is expected to consider a market structure framework that clarifies agency roles over digital assets. Senator Cynthia Lummis has indicated committee action is planned, and the bill — tentatively titled the Responsible Financial Innovation Act — could advance to a vote, shaping oversight and enforcement for exchanges and market participants.
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