Donald Trump · U.S. Treasury · U.S. · US Congress · Decrypt
Treasury Proposes Rules Defining Who Can Legally Sell Stablecoins in US
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The U.S. Department of the Treasury proposed rules Monday defining which stablecoins can be issued or sold in the United States under the GENIUS Act.
Key facts
- Public comments on the proposal are due by October 19, 2026, 60 days after its publication in the Federal Register
- According to the proposal, beginning January 18, 2027, stablecoin issuers generally must obtain a federal or state license
- Starting July 18, 2028, broader restrictions would generally prevent crypto exchanges and other digital asset platforms from selling stablecoins to U.S. customers, “unless the payment stablecoin is issued by a permitted payment stablecoin issuer
- The proposal implements Section 3 of the GENIUS Act, signed into law last summer
Summary
Treasury proposed rules defining when stablecoins are issued, offered, or sold in the US under the GENIUS Act. Beginning January 18, 2027, issuers generally must obtain a federal or state license to issue payment stablecoins in the US. Starting July 18, 2028, crypto platforms generally cannot sell stablecoins to US customers unless they come from an approved issuer. The U.S. The proposal implements Section 3 of the GENIUS Act, signed into law last summer.