The US Treasury has published its first major rule proposal to implement the GENIUS Act, the law governing stablecoin issuance in the United States, arriving one year after the original legal deadline. The rule establishes federal definitions for US stablecoin issuance and clarifies that these tokens should be treated as payment instruments rather than securities under existing financial law. The public consultation runs for 60 days until mid-October, with critical questions remaining about the treatment of foreign issuers such as Tether, whose USDT stablecoin holds approximately 189 billion dollars in market cap as of Q1 2026 according to CoinGecko. The next legal deadline is January 18, when the law takes effect, though it is unlikely all final rules will be in place by then.
Source: Read the original article
