US Treasury opens second round of comments on Genius Act implementation

The bill to establish rules for payment stablecoins was signed into law by US President Donald Trump in July and awaits final regulations before implementation.

The US Department of the Treasury on Thursday opened a second period of public comment on the implementation of the GENIUS Act, legislation aimed at regulating stablecoin payments in the US that was signed into law by US President Donald Trump.

In a Thursday notice, the Treasury said that, though the advance notice of proposed rulemaking was not required to implement the GENIUS Act, it invited the public to comment on the stablecoin law, saying it would build upon its work.

The Treasury officially opened up comment in August, giving the public until Oct. 17 to submit concerns or feedback related to illicit activity. The Thursday notice provides a 31-day window for comments.

Read more