Treasury Seeks Public Comment on Implementation of the GENIUS Act

WASHINGTON – Today, the U.S. Department of the Treasury issued an Advance Notice of Proposed Rulemaking (ANPRM), seeking public comment related to Treasury’s implementation of the Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS) Act.The GENIUS Act tasks Treasury with issuing regulations that encourage innovation in payment stablecoins while also providing an appropriately tailored regime to protect consumers, mitigate potential illicit finance risks, and address financial stability risks. Today’s ANPRM invites the public to offer comments, including providing data and other information, that may be useful for Treasury to consider. While the ANPRM does not implement new requirements under the GENIUS Act, it offers the public an opportunity to contribute to the implementation of this law.