- The US Department of Treasury has issued a Notice of Proposed Rulemaking to implement Section 3 of the GENIUS Act.
- Treasury Secretary Scott Bessent confirmed the department is “moving quickly” to establish a regulatory framework for payment stablecoins.
- The Treasury is actively seeking public comment from stakeholders and crypto experts to guide the new rules.
The US Department of Treasury, under Treasury Secretary Scott Bessent, has officially begun the process to implement the Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS) Act on August 17, 2026. The department issued a Notice of Proposed Rulemaking, seeking public comment on Section 3 of the landmark legislation.
“President Trump and Congress delivered the GENIUS Act, establishing a landmark framework and clear rules of the road for payment stablecoins, and Treasury is moving quickly to implement that framework,” said Secretary Bessent. He emphasized that the Treasury welcomes stakeholder input to provide the regulatory certainty businesses need.
The Trump administration has backed this effort, aiming to keep the US the global leader in the digital asset domain. The GENIUS Act streamlines the role of stablecoins within the current financial structure.
Meanwhile, the closely related Clarity Act remains under consideration. The Treasury is now actively gathering public opinion and input from crypto experts to finalize the GENIUS Act framework.
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