The U.S. Department of the Treasury has issued a notice for public comments on the "Guidance and Establishment of the U.S. Stablecoin National Innovation Act" (GENIUS), which was signed into law by President Donald Trump in July.
In the notice released on Monday, the Treasury stated that "interested individuals and organizations" can provide feedback to the government on "innovative or novel methods, technologies, or strategies to detect and mitigate illegal financial risks associated with digital assets." Treasury officials indicated that the comment period, which ends on October 17, is part of the requirements of the GENIUS Act.
In a post on X on Monday, Treasury Secretary Scott Bansen described this move as crucial for implementing the law and "ensuring U.S. leadership in the digital asset space." After receiving public comments, the Treasury will review the proposed methods and submit a report to the Senate Banking Committee and the House Financial Services Committee.
The regulatory bill governing stablecoins is expected to take effect 18 months after its signing on July 18, or 120 days after the U.S. Treasury and the Federal Reserve finalize the regulatory framework.
The timeline suggests that this is one of the first cryptocurrency-related laws passed under the Trump administration, and it is unlikely to become a campaign issue for candidates running on cryptocurrency policy in the 2026 midterm elections.
The Treasury's request for comments on "illegal activities" may include the use of cryptocurrencies for money laundering. The GENIUS Act also explicitly states that the department needs feedback on application programming interfaces (APIs), artificial intelligence, digital identity verification, and "the use and monitoring of blockchain technology."
The passage of the GENIUS Act is one of the first cryptocurrency-related bills approved by the Republican-controlled Congress during Trump's presidency and is one of three pieces of legislation currently under consideration.
As part of the Republican "Cryptocurrency Week" initiative in July, the House passed the GENIUS Act, the "Digital Asset Market Clarification Act" (CLARITY), and the "Anti-Central Bank Digital Currency Monitoring National Act" with bipartisan support.
The CLARITY Act and the central bank digital currency (CBDC) bill have been sent to the Senate, which will be in recess until September. The leadership of the Senate Banking Committee has indicated that it intends to prioritize addressing cryptocurrency market structure and pass its version of the CLARITY Act before October.
Related: Thailand plans to launch a cryptocurrency payment pilot for tourists
Original: “U.S. Treasury Seeks Public Comments on GENIUS Stablecoin Bill”
免责声明：本文章仅代表作者个人观点，不代表本平台的立场和观点。本文章仅供信息分享，不构成对任何人的任何投资建议。用户与作者之间的任何争议，与本平台无关。如网页中刊载的文章或图片涉及侵权，请提供相关的权利证明和身份证明发送邮件到support@aicoin.com，本平台相关工作人员将会进行核查。
