US Treasury issues proposed rules for GENIUS Act

The U.S. Department of the Treasury has begun establishing specific implementation guidelines for the GENIUS Act, a law regulating stablecoins, Punchbowl News reported. The Treasury has issued an 87-page Notice of Proposed Rulemaking (NPRM) and will gather opinions from industry and experts over the next 60 days. This procedure is viewed as the final design stage for the law's actual administrative enforcement following its passage.