Aug 17, 2026
Treasury Proposes GENIUS Act Rules for Stablecoin Licensing
The U.S. Treasury opened a 60-day comment period on proposed GENIUS Act rules that would define when stablecoin issuance and sales require federal or state licensing.
On Aug. 17, the U.S. Treasury proposed rules under the GENIUS Act that would define when stablecoin issuance, offers and sales to U.S. persons require federal or state licensing. The proposal sets an expected effective date of Jan. 18, 2027, with broader restrictions on unlicensed stablecoin sales taking effect on July 18, 2028.
The rules tighten distribution for foreign issuers and aim to provide regulatory certainty. However, the stalled CLARITY Act creates headwinds: senators delayed votes and market-implied odds of a 2026 signing fell to 19% from 82%.