U.S. Treasury · US Congress · Scott Bessent · The Block
The Treasury issued a Notice of Proposed Rulemaking on Monday seeking public comment on how it plans to implement Section
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The GENIUS Act is expected to take effect on Jan. 18, 2027.
Key facts
- The GENIUS Act is expected to take effect on Jan. 18, 2027
- The Treasury issued a Notice of Proposed Rulemaking on Monday seeking public comment on how it plans to implement Section 3 of the Guiding and Establishing National Innovation for U.S. Stablecoins Act
- Beginning July 18, 2028, digital asset service providers generally will not be permitted to offer or sell payment stablecoins to people in the U.S. unless the tokens are issued by a licensed issuer
- In July 2025, U.S. President Donald Trump signed a bill that would create a federal regulatory framework for stablecoins, marking the first significant crypto-related legislation to be signed into law
Summary
The U.S. Treasury Department on Monday will begin seeking public comments on the GENIUS Act, the landmark crypto legislation signed into law last year. The Treasury issued a Notice of Proposed Rulemaking on Monday seeking public comment on how it plans to implement Section 3 of the Guiding and Establishing National Innovation for U.S. Stablecoins Act. " 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," Bessent wrote in a post on X. In July 2025, U.S. President Donald Trump signed a bill that would create a federal regulatory framework for stablecoins, marking the first significant crypto-related legislation to be signed into law.