{"id":49678,"date":"2026-08-17T16:36:51","date_gmt":"2026-08-17T16:36:51","guid":{"rendered":"https:\/\/cryptomag.finance\/?p=49678"},"modified":"2026-08-17T16:36:51","modified_gmt":"2026-08-17T16:36:51","slug":"us-treasury-asks-for-public-input-on-landmark-genius-act-crypto-legislation","status":"publish","type":"post","link":"https:\/\/cryptomag.finance\/?p=49678","title":{"rendered":"US Treasury Asks For Public Input on Landmark Genius Act Crypto Legislation\u00a0"},"content":{"rendered":"<p><a rel=\"nofollow\" href=\"https:\/\/bitcoinmagazine.com\/\">Bitcoin Magazine<\/a><br \/>\n<img decoding=\"async\" src=\"https:\/\/bitcoinmagazine.com\/wp-content\/uploads\/2026\/08\/US-Treasury-Asks-For-Public-Input-on-Landmark-Genius-Act-Crypto-Legislation.jpg\" \/><br \/>\n<a rel=\"nofollow\" href=\"https:\/\/bitcoinmagazine.com\/news\/us-treasury-asks-for-input-on-genius-act\">US Treasury Asks For Public Input on Landmark Genius Act Crypto Legislation\u00a0<\/a><\/p>\n<div><\/div>\n<p class=\"wp-block-paragraph\">The U.S. Department of the Treasury is moving fast with crypto regulation, with the government body asking for public comment on the landmark <a href=\"https:\/\/bitcoinmagazine.com\/news\/president-donald-trump-america-will-show-the-world-how-to-win-with-digital-assets-like-never-before\">GENIUS Act<\/a>.\u00a0<\/p>\n<p class=\"wp-block-paragraph\">In a Monday announcement, the Treasury said that it was welcoming input from stakeholders on a proposed rule that would provide clarity to industry regarding who needs a license to issue a stablecoin.\u00a0<\/p>\n<p class=\"wp-block-paragraph\">President Donald Trump signed the GENIUS Act into law in 2025. The legislation allows banks and other entities to issue stablecoins if they back the tokens with assets like U.S. Treasuries and provide monthly disclosures of their reserves.<\/p>\n<p class=\"wp-block-paragraph\">While the law was passed by Congress last year, U.S. regulations typically require agencies to draft and finalize more specific implementing rules \u2014 with a period for public comment \u2014 before those rules take legal effect. The overall effective date of the GENIUS Act is expected to be January 18, 2027, with stricter offer and sale prohibition of stablecoins prohibited from July 18, 2028.\u00a0<\/p>\n<figure class=\"wp-block-embed is-type-rich is-provider-x wp-block-embed-x\">\n<div class=\"wp-block-embed__wrapper\">\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">JUST IN: <img decoding=\"async\" src=\"https:\/\/s.w.org\/images\/core\/emoji\/17.0.2\/72x72\/1f1fa-1f1f8.png\" alt=\"\ud83c\uddfa\ud83c\uddf8\" class=\"wp-smiley\" \/> Treasury Secretary Scott Bessent says the &#8220;Treasury is moving quickly to implement&#8221; the GENIUS Act <img decoding=\"async\" src=\"https:\/\/s.w.org\/images\/core\/emoji\/17.0.2\/72x72\/1f440.png\" alt=\"\ud83d\udc40\" class=\"wp-smiley\" \/><\/p>\n<p>&#8220;Beginning on January 18, 2027, the expected effective date of the GENIUS Act,&#8221; <img decoding=\"async\" src=\"https:\/\/s.w.org\/images\/core\/emoji\/17.0.2\/72x72\/1f440.png\" alt=\"\ud83d\udc40\" class=\"wp-smiley\" \/> <a href=\"https:\/\/t.co\/VCxbnwNM5G\">pic.twitter.com\/VCxbnwNM5G<\/a><\/p>\n<p>\u2014 Bitcoin Magazine (@BitcoinMagazine) <a href=\"https:\/\/x.com\/BitcoinMagazine\/status\/2089337014889927032?ref_src=twsrc%5Etfw\">August 17, 2026<\/a><\/p><\/blockquote>\n<\/div>\n<\/figure>\n<p class=\"wp-block-paragraph\">\u201cPresident Trump 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,\u201d Treasury Secretary Scott Bessent <a href=\"https:\/\/home.treasury.gov\/news\/press-releases\/sb0605\" target=\"_blank\" rel=\"noopener\">said<\/a> in a statement.\u00a0<\/p>\n<p class=\"wp-block-paragraph\">\u201cTreasury welcomes input from stakeholders as we work to provide the regulatory certainty businesses need to innovate and grow in America, cement the role of the U.S. dollar as the world\u2019s reserve currency, and keep America the crypto capital of the world,\u201d he added.\u00a0<\/p>\n<p class=\"wp-block-paragraph\">The statement added that from January 2027, a person generally may not \u201cissue a payment stablecoin in the United States\u201d unless the person has obtained an appropriate federal or state license.\u00a0<\/p>\n<p class=\"wp-block-paragraph\">Questions for stakeholders in consultation include whether key terms are defined clearly enough, when exactly a stablecoin should be considered \u201cissued,\u201d and what due diligence obligations digital asset service providers should have when relying on a foreign issuer\u2019s compliance representations.\u00a0<\/p>\n<p class=\"wp-block-paragraph\">The consultation comes as the U.S. races to craft laws to regulate the crypto industry. Lawmakers were this month aiming to get a vote on the crypto market structure bill, the Clarity Act, but it was delayed until September.\u00a0<\/p>\n<p class=\"wp-block-paragraph\">Bessent this year urged lawmakers to get the Clarity Act over the line.\u00a0<\/p>\n<p class=\"wp-block-paragraph\">President Trump said this month passing legislation like the Clarity Act is necessary for the U.S. to take the lead over China. He also claimed that more people were using Bitcoin to make payments.<\/p>\n<p>This post <a rel=\"nofollow\" href=\"https:\/\/bitcoinmagazine.com\/news\/us-treasury-asks-for-input-on-genius-act\">US Treasury Asks For Public Input on Landmark Genius Act Crypto Legislation\u00a0<\/a> first appeared on <a rel=\"nofollow\" href=\"https:\/\/bitcoinmagazine.com\/\">Bitcoin Magazine<\/a> and is written by <a rel=\"nofollow\" href=\"https:\/\/bitcoinmagazine.com\/authors\/mathewdisalvo\">Mathew Di Salvo<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"<p>Bitcoin Magazine US Treasury Asks For Public Input on Landmark Genius Act Crypto Legislation\u00a0 The U.S. Department of the Treasury is moving fast with crypto regulation, with the government body asking for public comment on the landmark GENIUS Act.\u00a0 In a Monday announcement, the Treasury said that it was welcoming input from stakeholders on a [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":49679,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_exactmetrics_skip_tracking":false,"footnotes":""},"categories":[],"tags":[],"class_list":["post-49678","post","type-post","status-publish","format-standard","has-post-thumbnail"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.2 - 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