The U.S. Treasury has released the first major proposed rules for implementing the GENIUS Act.
The proposal begins defining:
Who qualifies as a stablecoin issuer Which regulators have jurisdiction How offshore issuers may be treated How payment stablecoins should operate under the new frameworkThe industry now gets a 60-day comment period before the rules move toward final form.
Passing a crypto law is one thing.
Turning it into rules companies can actually build around is another.
That process has officially started.
