U.S. Treasury · U.S. · CryptoSlate
Treasury just put a deadline on offshore stablecoins’ access to US customers
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By July 18, 2028, a stablecoin could still move freely across blockchains and yet disappear from the buy menu on an American exchange.
Key facts
- Starting Jan. 18, 2027, companies won't be able to issue a payment stablecoin in the United States without entering the GENIUS regime
- The general regime is expected to start on Jan. 18, 2027, and the wider service-provider restriction arrives on July 18, 2028
- By July 18, 2028, a stablecoin could still move freely across blockchains and yet disappear from the buy menu on an American exchange
- Foreign issuers still have a route into the US market under Section 18 of GENIUS
Summary
01 GENIUS rules could bar US providers from offering offshore payment stablecoins to Americans after July 18, 2028. 02 Offshore tokens could circulate abroad and in self-custody, but US exchanges may narrow access and stablecoin choice. 03 Treasury seeks comments on issuer eligibility and smart-contract checks before finalizing rules; comments close Oct. 19. The proposal doesn’t ban an offshore token from circulating abroad or moving between private wallets; it controls how regulated businesses distribute that token inside the US.