Treasury Opens Public Consultation on GENIUS Act Stablecoin Rules

The United States Department of the Treasury has taken its next step towards regulating payment stablecoins by publishing an Advance Notice of Proposed Rulemaking (ANPRM) under the Guiding and Establishing National Innovation for US Stablecoins (GENIUS) Act. Issued on 18 September 2025, the consultation invites public comment on how Treasury should balance fostering innovation in digital assets with safeguarding consumers, financial stability and the wider economy.

The GENIUS Act directs Treasury to design a regulatory framework tailored to the specific risks and opportunities posed by payment stablecoins. While the new ANPRM does not create immediate obligations, it provides industry participants, financial institutions, technology firms and members of the public with the chance to shape future rulemaking. Treasury is particularly seeking data, evidence and perspectives that will support the development of practical, proportionate measures.

The notice follows Treasury’s ongoing Request for Comment on Innovative Methods to Detect Illicit Activity Involving Digital Assets, launched on 18 August 2025 and open until 17 October 2025. By linking both initiatives, Treasury signals its intention to integrate financial crime prevention and technological innovation into a cohesive policy for digital assets.

Responses to the ANPRM must be submitted within 30 days of publication in the Federal Register. All comments will be made publicly available through regulations.gov, ensuring transparency in the rulemaking process.

The GENIUS Act represents a significant milestone in the regulation of stablecoins, with Treasury’s consultation highlighting the government’s dual aim of enabling digital asset growth while ensuring robust oversight against illicit finance and systemic risks.

Read the notice here.