US Treasury opens comments on GENIUS Act rules

• The US Treasury has opened public comments on proposed rules for the GENIUS Act.
• The stablecoin law is scheduled to take effect on January 18, 2027.
• Treasury, the OCC, FDIC and Federal Reserve missed a July deadline to finalise rules.

The US Treasury has opened a 60-day public comment period on rules for the GENIUS Act.

The law creates a federal framework for payment stablecoins and is due to take effect on January 18, 2027.

“The department welcomes input from stakeholders as [it works] to provide the regulatory certainty businesses need to innovate and grow in America,” said US Treasury Secretary Scott Bessent.

The Treasury, OCC, FDIC and Federal Reserve also issued proposed rules for the law earlier this year.

The agencies missed a 120-day deadline in July to finalise the rules before the January start date.

Under the GENIUS Act, issuers generally cannot issue payment stablecoins in the US without a federal or state licence.

The latest process could determine whether the law starts with final rules in place, as regulators continue work before January 2027.