The U.S. Department of the Treasury has proposed rules implementing restrictions under section 3 of the Guiding and Establishing National Innovation for U.S. Stablecoins Act. The framework would clarify when payment stablecoin issuers need a federal or state license and when stablecoins are considered offered or sold to persons in the United States. From January 18, 2027, the Act’s expected effective date, a person generally may not issue a payment stablecoin in the United States without an appropriate license. Digital asset service providers also generally may not make foreign-issued payment stablecoins available unless the issuer can and will comply with lawful orders and applicable reciprocal arrangements. From July 18, 2028, providers generally may offer or sell payment stablecoins to persons in the United States only if the coins are issued by a licensed issuer.
2026-08-17U.S. Department of the Treasury
U.S. Department of the Treasury proposes GENIUS Act framework for payment stablecoin licensing and U.S. sales
The U.S. Department of the Treasury has proposed a framework clarifying when payment stablecoin issuers require a GENIUS Act license and when stablecoins are offered or sold in the United States. The rules would implement restrictions on unlicensed issuance and on the U.S. distribution of foreign-issued or unlicensed stablecoins.