US Treasury moves forward with rules on GENIUS Act after July deadline

The US Treasury has issued a proposed rulemaking to implement the GENIUS Act, which establishes a regulatory framework for payment stablecoins, with public comments open for 60 days before the law's January 2027 effective date. The act will require payment stablecoin issuers to hold federal or state licences, and the Treasury and other agencies missed the July deadline to finalise rules, raising regulatory uncertainty.

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