The U.S. Department of the Treasury releases the first draft of implementation rules for the GENIUS Act, seeking public comments.

Odaily · 2026-04-01T22:06:52+00:00

The U.S. Department of the Treasury has released a rulemaking proposal for the "GENIUS Act," focusing on regulatory standards for small stablecoin issuers. It allows institutions with less than $10 billion to choose state-level regulation, provided they meet federal standards. This move aims to clarify the regulatory boundaries between state and federal authorities and provide a clear compliance pathway for the stablecoin industry. The public will have 60 days to submit comments.

Odaily

2026-04-01 22:06:52

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Odaily Planet Daily News: The U.S. Department of the Treasury has issued its first notice of proposed rulemaking (NPRM) regarding the stablecoin regulatory bill, the “GENIUS Act,” signaling that the bill is entering a concrete implementation stage.

This proposal focuses on the regulatory pathway for “small stablecoin issuers,” and plans to establish criteria to determine whether a state-level regulatory framework is “substantially equivalent” to the federal framework. Under the bill, institutions with an issuance size of less than $10 billion may choose to accept state regulation, provided that their regulatory regime meets federal standards.

The Treasury said the proposal is intended to clarify the boundary between state and federal oversight, and to provide the stablecoin industry with a clearer compliance route.

The public will have 60 days to submit comments on the draft rule. At the same time, other federal regulatory agencies, including the FDIC and the OCC, are also moving forward with related supporting rules, and the overall stablecoin regulatory framework is gradually taking shape.

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