View Rule

Treasury intends to issue regulations implementing the Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS) Act (Pub. L. 119-27). The GENIUS Act tasks Treasury (and various other federal agencies) 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. Treasury intends its regulatory framework to provide regulatory clarity by covering, as appropriate, prohibitions on certain issuances and marketing, Bank Secrecy Act (BSA) anti-money laundering (AML) and sanctions obligations, the balance of state-level oversight with federal oversight, and comparable foreign regulatory and supervisory regimes, among other things.