DEPARTMENT OF THE TREASURY ISSUES PROPOSED RULE: GENIUS ACT REGULATIONS ON PAYMENT STABLECOIN ISSUANCE, OFFER, AND SALE

WASHINGTON, Aug. 18 -- Department Of The Treasury has issued a proposed rule called: GENIUS Act Regulations on Payment Stablecoin Issuance, Offer, and Sale.

The proposed rule was published in the Federal Register on Aug. 18 by Rachel Miller, Executive Secretary.

Summary: The Department of the Treasury (Treasury) proposes to issue regulations to implement section 3 of the Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS) Act regarding the statutory prohibitions and limitations on payment stablecoin issuance, offer, and sale in the United States.

For more information, contact Brendan Costello and Cody Gaffney, Attorney-Advisors, Office of the General Counsel, and Jonathan Hurowitz, Senior Advisor, Office of Financi...