The US Treasury Department issued a notice of proposed rulemaking regarding the implementation of the GENIUS Act, a stablecoin bill signed into law last year. The stablecoin legislation is scheduled to take effect on January 18, 2027, which is 18 months after its passage in July 2025. Federal agencies including the OCC, FDIC and the Federal Reserve all missed the 120-day deadline in July to finalize regulations, signaling the law may go into effect without clear guidance. Once effective, entities generally may not issue payment stablecoins in the US without a federal or state license. Public comment on the proposed rules is open for 60 days.
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