The U.S. Department of the Treasury releases the first draft of implementation rules for the GENIUS Act.

金色财经_ · 2026-04-02T01:08:56+00:00

The U.S. Department of the Treasury has released the proposed rules for the "Guidance and Establishment of the U.S. Stablecoin National Innovation Act," seeking public comments. The rules allow small stablecoin issuers to choose state-level regulation. The aim is to clarify the substantive similarities between state and federal regulation while addressing the regulatory issues of interest-bearing stablecoins.

金色财经_

2026-04-02 01:08:56

Abstract generation in progress

Golden Finance reports that on April 2, the U.S. Department of the Treasury issued its first proposed rulemaking (NPRM) for the “Guidance and Establishing the United States National Stablecoin Innovation Act” (GENIUS Act), seeking public comment on the criteria for determining which state-level regulatory framework applies to small stablecoin issuers.
The proposal is intended to clarify that when a state-level regulatory system is “substantially similar” to the federal framework, stablecoin issuers with an issuance size of less than $10 billion may choose to accept state regulation rather than full federal regulation.
The public will have a 60-day comment period after the rule is published in the Federal Register. The Treasury said the rule will establish general principles for determining whether state-level regulation meets federal standards.
At present, major U.S. bank regulators, including the Federal Deposit Insurance Corporation (FDIC) and the Office of the Comptroller of the Currency (OCC), are also rolling out related draft rules to move the stablecoin regulatory framework into practice. Meanwhile, the GENIUS Act still does not cover rules related to interest-bearing stablecoins, and this issue has become a major obstacle for Congress in advancing broader crypto market-structure legislation.

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