Treasury has proposed rules under the GENIUS Act requiring US exchanges and digital-asset service providers to conduct reasonable due diligence before offering foreign-issued payment stablecoins. Platforms would be held accountable if they know, have reason to know, or should know that an issuer cannot or will not comply with lawful US orders such as freeze or seizure requests. The general regime is expected to take effect on January 18, 2027, with stricter foreign-issuer eligibility rules beginning July 18, 2028. Comments on the proposed standard close on October 19, 2026. The proposal does not identify or approve specific tokens and has not decided whether USDT or any other named stablecoin can remain available.
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