US Treasury moves forward with rules on GENIUS Act after July deadline

The US Department of the Treasury issued a notice of proposed rulemaking related to the implementation of the Guiding and Establishing National Innovation for US Stablecoins (GENIUS) Act, a bill to establish a framework for payment stablecoins signed into law last year.

In a Monday notice, the Treasury Department said that it was opening a proposed rule up to public comment ahead of the January 2027 implementation of the GENIUS Act. Under the terms of the bill, the stablecoin law had been scheduled to go into effect 120 days after agencies finalize rules, or 18 months after it was passed in July 2025, making its effective date Jan. 18, 2027. 

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

Together with the Treasury Department, other US government agencies including the Office of the Comptroller of the Currency (OCC), the Federal Deposit Insurance Corporation (FDIC) and the Federal Reserve Board have issued notices of proposed rules in 2026 related to the implementation of GENIUS. However, all departments reportedly missed the 120-day deadline in July to finalize regulations before January, signaling that GENIUS could go into effect without clear guidance.