Today, the U.S. Department of the Treasury released a draft rule to implement the GENIUS Act in the United States. The public has 60 days to provide input.
The government uses a formal process called a notice of proposed rulemaking (NPRM) to propose new regulations and solicit public feedback before finalising them. Its main objective is to provide standards for determining whether state-level regulations are sufficiently similar to federal rules.
Stablecoin companies with $10 billion or less in circulation have the option to choose state-level regulation instead of federal oversight under the GENIUS Act.
State regulations must, nevertheless, closely align with federal rules. The Treasury will determine whether state regulations are “substantially similar” to federal rules. This is to ensure that a business adheres to the same safety standards regardless of whether it is overseen by federal or state regulators.
Donald Trump signed the GENIUS Act, also known as the “Guiding and Establishing National Innovation for U.S. Stablecoins Act”, into law in July 2025 with the primary objective of creating a legal framework for stablecoins in the country.
Source: home.treasury.gov
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