Treasury proposes rules defining stablecoin issuance, sales in U.S.
The U.S. Treasury Department has proposed new rules to define the issuance and sale of payment stablecoins under the GENIUS Act. These regulations aim to provide legal clarity for market participants while balancing financial innovation with consumer protection.
Why it matters
As stablecoins become more integrated into the financial system, federal oversight is critical to preventing market instability and ensuring regulatory compliance.
The Treasury Department has proposed rules defining what counts as issuing, offering, or selling payment stablecoins in the United States, and has asked the public to weigh in on how the new federal stablecoin law should reach cross-border activity. ( TREAS-DO-2026-0496 , 8/18/2026)
The Notice of Proposed Rulemaking (NPRM) sets out Treasury’s framework for implementing section 3 of the Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS) Act, P.L. 119-27, and builds on an advance notice the department issued in September 2025. It defines key terms left open by the statute and creates safe harbors for market participants.
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