20.09.2025 15:55
In a significant step towards regulating digital currencies, the United States Department of the Treasury has initiated a second public consultation phase concerning the implementation of the GENIUS Act. This landmark legislation, which was signed into law by former President Donald Trump, is designed to establish a comprehensive framework for stablecoin payments across the nation.
While acknowledging that a preliminary notice for proposed rulemaking was not legally required, the Treasury stated it is voluntarily inviting public commentary to enhance and build upon its ongoing regulatory efforts. This new 31-day window for feedback follows an initial comment period that launched in August and concluded on October 17, which primarily sought input on preventing illicit financial activities. In its official statement, the department emphasized that it "welcomes comments and views from a wide range of stakeholders."
The GENIUS Act's journey to becoming law began in the U.S. House of Representatives, where it was passed in July as part of a trio of crypto-related bills during an initiative championed by Republican lawmakers called "Crypto Week." The bill was officially enacted on July 18 in a high-profile ceremony attended by influential executives from leading cryptocurrency firms, including Gemini, Coinbase, Circle, and Kraken.
Designed specifically to establish a regulatory regime for payment stablecoins in the United States, the act's enforcement is slated to commence 18 months after it was signed into law, or 120 days after the Treasury and the Federal Reserve finalize the associated regulations. This projected timeline consequently places its earliest possible implementation in late 2026.
Meanwhile, legislative momentum on digital assets continues to build on Capitol Hill. According to online reports and statements from Wyoming Senator Cynthia Lummis, a prominent member of the Senate Banking Committee, the U.S. Senate is scheduled to vote on a comprehensive market structure framework for digital assets later this month, signaling a broader and ongoing effort to bring clarity to the crypto industry.
