US Treasury Seeks Public Input on Stablecoin Regulations

The US Treasury Department is requesting public feedback on the implementation of the Guiding and Establishing National Innovation for US Stablecoins (GENIUS) Act. Signed into law in July, this legislation aims to regulate payment stablecoins. The Treasury seeks insights on innovative strategies for detecting and mitigating risks associated with illicit finance involving digital assets. A deadline of October 17th has been set for submitting comments. The public feedback will be used by the Treasury Department to research proposed methods and subsequently report findings to the Senate Banking Committee and House Financial Services Committee.