{"id":95863,"date":"2026-04-02T17:48:44","date_gmt":"2026-04-02T14:48:44","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=95863"},"modified":"2026-04-02T17:50:20","modified_gmt":"2026-04-02T14:50:20","slug":"us-treasury-initiates-implementation-of-genius-act","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/us-treasury-initiates-implementation-of-genius-act\/","title":{"rendered":"US Treasury Initiates Implementation of GENIUS Act"},"content":{"rendered":"<p>The US Department of the Treasury has begun implementing the GENIUS Act. The regulator <a href=\"https:\/\/home.treasury.gov\/system\/files\/136\/NPRM-GENIUS4c-Principles.pdf\">issued<\/a> its first notice and invited market participants to provide comments within 60 days.<\/p>\n<p>In an 87-page document, the department explains how to determine whether state-level regulatory regimes for <a href=\"https:\/\/forklog.com\/en\/news\/what-are-stablecoins\">stablecoins<\/a> are &#8220;substantially similar&#8221; to the federal system.<\/p>\n<h2 class=\"wp-block-heading\">Two Levels of Requirements<\/h2>\n<p>Under the GENIUS Act, issuers of &#8220;stablecoins&#8221; with an issuance volume of less than $10 billion may opt for state-level regulation, provided they meet federal standards.<\/p>\n<p>The proposed rule sets general criteria for such assessment, allowing local authorities freedom in licensing, supervision, and enforcement. The document divides the requirements into two types:<\/p>\n<ul class=\"wp-block-list\">\n<li>uniform \u2014 reserve backing, compliance with <span data-descr=\"anti-money laundering and counter-terrorist financing system\" class=\"old_tooltip\">AML\/CFT<\/span>;<\/li>\n<li>state-calibrated \u2014 where local regulators retain discretion (e.g., capital and risk management standards).<\/li>\n<\/ul>\n<p>The key role in overseeing non-bank stablecoin issuers (when exceeding the $10 billion threshold) is assigned to the <span data-descr=\"Office of the Comptroller of the Currency\" class=\"old_tooltip\">OCC<\/span> \u2014 it is to its rules and interpretations that the federal standard is tied.<\/p>\n<p>State regimes may be stricter than federal ones, provided they do not contradict the law and maintain overall comparability.<\/p>\n<h2 class=\"wp-block-heading\">Reporting and Naming Requirements<\/h2>\n<p>States will not be able to weaken basic disclosure standards. Issuers are required to publish reports on reserve composition at least once a month \u2014 with the same frequency as at the federal level.<\/p>\n<p>Naming restrictions also apply to both systems: companies regulated by states are prohibited from using certain terms in the branding of &#8220;stablecoins.&#8221;<\/p>\n<p>The federal law remains the baseline. Any future Congressional legislation on stablecoin issuer regulation automatically applies to firms under state supervision unless otherwise specified.<\/p>\n<h2 class=\"wp-block-heading\">Context<\/h2>\n<p>The adoption of the <a href=\"https:\/\/forklog.com\/en\/news\/donald-trump-enacts-stablecoin-legislation\">GENIUS Act in 2025<\/a> marked a turning point in US cryptocurrency policy. The law established the first federal standard for stablecoins, requiring issuers to have full reserve backing, comply with AML\/CFT requirements, and publish reports.<\/p>\n<p>Simultaneously, Congress is advancing additional bills, including the CLARITY Act, which aims to delineate the jurisdictions of the <span data-descr=\"US Securities and Exchange Commission\" class=\"old_tooltip\">SEC<\/span> and the <span data-descr=\"US Commodity Futures Trading Commission\" class=\"old_tooltip\">CFTC<\/span>.<\/p>\n<p>Discussions are ongoing \u2014 the current version of the bill has raised questions among industry representatives. Many <a href=\"https:\/\/forklog.com\/en\/news\/cryptocurrency-firms-seek-compromise-on-clarity-act-disputes\">opposed<\/a> the provision that prohibits earning income solely from holding stablecoins.<\/p>\n<p>In March, US authorities <a href=\"https:\/\/forklog.com\/en\/news\/us-authorities-acknowledge-privacy-rights-of-crypto-mixer-users\">recognized<\/a> the right of cryptocurrency mixer users to privacy.<\/p>\n<p>Later, the country <a href=\"https:\/\/forklog.com\/en\/news\/us-proposes-rules-for-cryptocurrency-in-pension-investments\">proposed<\/a> new rules for 401(k) retirement plans, reforms for the mining industry, and legislative protection for the strategic bitcoin reserve.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The US Treasury has begun implementing the GENIUS Act. The regulator issued its first notice and invited market participants to provide comments within 60 days.<\/p>\n","protected":false},"author":1,"featured_media":95864,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"US Treasury begins implementing GENIUS Act, inviting market comments within 60 days.","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[36,26],"class_list":["post-95863","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-regulation","tag-usa"],"aioseo_notices":[],"amp_enabled":true,"views":"90","promo_type":"1","layout_type":"1","short_excerpt":"US Treasury begins implementing GENIUS Act, inviting market comments within 60 days.","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/95863","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=95863"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/95863\/revisions"}],"predecessor-version":[{"id":95865,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/95863\/revisions\/95865"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/95864"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=95863"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=95863"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=95863"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}